- The València Containerised Freight Index (VCFI) – which measures the performance and evolution of the cost of container transport by sea from the Valencian precinct – falls by 2.08% compared to August, registering the lowest drop since September 2022
- An increase of 4.64% is observed in Western Mediterranean freight rates, a positive growth that had not been recorded in the last six months.
- Overall, shipping continues to contract in 2023: weighed down by sluggish European economic recovery and weakening domestic demand in China
- Far East down -0.24% in line with downward fluctuations in export levels from Valenciaport to China
València, 6 October 2023.- Export freights from the Port of València contain their fall, registering a decrease of 2.08%, the most moderate in the last year. This is reflected in the València Containerised Freight Index (VCFI) – which measures the trend and evolution of the freight rates of the Valencian precinct – and which in September stands at 1,186.74 points – remaining at similar levels to February 2020. The VCFI accumulates a growth since the beginning of the historical series in January 2018 of 18.67%.
The Index also reflects a moderation in the downward trend of export freight rates from Valenciaport docks to the Far East area which, showing signs of stabilization -0.24% (compared to -18.92% that marked in July or 3% that marked in August this year). Likewise, the index with Western Mediterranean grows again and an increase of 4.64% is observed in the cost of transport by sea from the Valencian docks, a positive growth that had not been recorded in the last six months.
In this sense, the behaviour of world trade -which continues to decline- continues to be marked by the slowdown in economic recovery at international level, weighed down by the slow European economic recovery and the weakening of domestic demand in China and, in parallel, transport prices also decrease.
VCFI Western Mediterranean
With regard to the Western Mediterranean sub-index, an increase of 4.64% was observed with respect to the previous month, after five months of decline. It has thus reached 1,483.44 points, representing an accumulated growth of 48.34% since the beginning of the series in 2018.
As regards Valenciaport, an increase in the volume of exports to Morocco of 26.2% – with respect to the previous month – has been observed. In contrast, exports to Tunisia have contracted by -33.7%.
VCFI Far East
The Far East area shows signs of stabilization, with a subtle drop of -0.24% to 918.71 points. This represents a decrease of -8.13% since the beginning of the series in January 2018.
In parallel, export levels from Valenciaport to China, which is the main trading partner, have experienced downward fluctuations according to the latest available data. If you wish to read the full report, you can consult this link.