Valencia Containerised Freight Index

VCFI General

In March 2025, the Valencia Containerised Freight Index (VCFI) recorded a fall of -5.18% in respect of the previous month, to stand at 2,050.86 points. Despite the monthly reduction, the index maintains impressive accumulated growth of 10509% since 2018. By way of benchmarking, the Shanghai Containerised Freight Index (SCFI) also recorded declines during March, falling by 2.02% in the third week alone.

Back to the analysis of the VCFI to the regional sub-indexes, the Western Mediterranean was down -13.48% at 2,254.75 points, representing cumulative growth of 125.48% since 2018. The Far East sub-index also saw a fall of -7.26%, to a value of 2,124.99 points and accumulated growth of 112.50% since the start of the series.

As far as global trade is concerned, the World Trade Organisation’s (WTO) Goods Trade Barometer shows moderate growth in world trade , with an index of 102.8, indicating that goods are above trend. This value reflects a growth trend in global trade, but is not necessarily immediately reflected in freight rates. The falls in the VCFI and SCFI are due to transport sector-specific factors, such as overcapacity on some routes and post-holiday adjustments, which have reduced trading activity in certain areas. In this sense, freight dynamics respond to a number of additional factors, such as the adjustment in fleet capacities and geopolitical uncertainty, which could be driving fluctuations in shipping prices.

In the same context, the latest RWI/ISL Index reading suggests an upturn in global trade, with container throughput increasing. However, European ports experienced a slight fall after the strong growth of the previous month. Despite this, the threat of new tariffs from the US government could drive an anticipated increase in imports, which in turn could reduce demand in the future.

With regard to the shipping supply side, according to Alphaliner data, the inactive containership fleet remained stable in March 2025, representing approximately 0.7% of the global fleet. As of 11 March, 73 vessels were idle, totalling 187,755 TEUs, indicating a slight decrease in idle capacity compared to February. This stability suggests that the industry continues to operate close to full capacity, despite fluctuations in demand and geopolitical tensions

As for the energy and commodities market, the price of Brent crude oil registered a 4.83% decrease in February to $75.44 per barrel down from $79.27 in January The marine fuel sector also presented a downward trend, as the price of VLSFO (Very Low Sulphur Fuel Oil) fell to 551,50 in March in the top 20 world ports; this is a consequence of the decrease in energy prices and of the volatility of global markets. In this context, logistics operators are adjusting their strategies to cope with market volatility. While the downward trend in freight rates in March is partly consequence of, it could also signal a period of readjustment in global trade in the face of economic uncertainty. For the time being, all indications are that this uncertainty stemming from the threat of new tariffs by the US  has not had an immediate impact on freight levels, which continue to show a downward trend in March. However, in the coming months, tariff fluctuations may occur, depending on the evolution of demand and international trade policies.

VCFI Western Mediterranean

VCFI Far East