In September 2025, the Chinese containerized export market continued its adjustment phase with ocean freight rates persistently declining, dragging down the composite index. The average value of the China Containerized Freight Index (CCFI) published by the Shanghai Shipping Exchange was 1120.52 points in September, representing a 6.0% decrease from the previous month. Meanwhile, the average value of the Shanghai Export Container Composite Index (SCFI), reflecting the spot market, stood at 1288.82 points, showing a 12.5% decline compared to August.

1. Growth in Port Container Throughput and Divergent Trends in Vessel Lease Rates

• Port Performance: In August 2025, major ports in China reported favorable operations, with container throughput growing year-over-year. National ports handled 31.49 million TEUs, up 6.5% YoY. Specifically, coastal ports managed 27.75 million TEUs (+6.8% YoY), while river ports processed 3.73 million TEUs (+4.2% YoY).
• Vessel Leasing Market: The charter market remained strong but saw mixed trends across different vessel sizes. According to Clarkson Research, monthly changes in September were +0.5%, -1.7%, no change, +0.6%, and +0.3% for 1000TEU, 1700TEU, 2750TEU, 6500TEU, and 9000TEU vessels, respectively.

2. Continuous Decline in European and Mediterranean Freight Rates

The demand on Europe and Mediterranean routes stayed relatively stable, yet rates kept falling. In September, the average CCFI values for exports to Europe and the Mediterranean were 1512.23 and 1757.02 points, down 14.3% and 9.3% MoM, respectively. Spot rates from Shanghai to these destinations averaged $1123/TEU and $1708/TEU, marking declines of 37.5% and 24.4% MoM.

3. North American Market Initially Rises Then Falls

North American route rates showed resilience in early September but weakened significantly later due to insufficient demand growth. Average CCFI values for exports to the US West Coast and East Coast were 790.62 and 937.72 points, decreasing by 3.6% and 5.8% MoM. Corresponding spot rates averaged $1914/FEU and $2831/FEU, increasing by 4.3% and 0.3% MoM.

4. Increase in Persian Gulf and Red Sea Route Prices

Demand on the Persian Gulf and Red Sea routes remained steady, supporting rate increases despite a slight drop in spot prices. The average CCFI value for this route was 1257.27 points, up 11.6% MoM.

5. Steady Rise in Australia-New Zealand Route Prices

With positive demand dynamics, rates on the Australia-New Zealand route steadily increased. The average CCFI value reached 1115.73 points, a rise of 5.9% MoM.

6. Slight Increase in Japan Route Prices

Stable demand led to minor price hikes on the Japan route. The average CCFI value for September was 963.41 points, indicating a 2.3% increase MoM.

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