The freight rates required for the compilation of containerized freight index

(Europe service) are collected from the panelists of the Europe-US Service

Subcommittee under the SSE China (Export) Containerized Freight Index (CCFI)

Compilation Committee. As of August 2023, the Subcommittee has 15 panelists,

of which 14 (including 10 liner companies and 4 freight forwarders) report the

settled freight rates of the Europe service to SSE. The list of the panelists is

available on SSE’s official website.

SSE has a clear specification on the freight rate information collected from the

panelists of the Index Compilation Committee. The specification covers the port

of departure, port of destination, cargo type, container type and size, payment

method, shipping terms, freight composition, and currency. Specifically, the

port of departure is the Port of Shanghai; the port of destination is the base

port of the route—Hamburg, Rotterdam, Antwerp, Felixstowe, and Le Havre.

The containers are dry cargo containers, including 20-foot General Purpose

containers (20GP), 40-foot General Purpose containers (40GP), and 40-foot

High Cube containers (40HQ). The cargoes are general cargoes. The payment

method is the prepayment of freight. The shipping term is Container Yard to

Container Yard (CY/CY). The freight comprises the per-container ocean freight

and related surcharges, which include fuel-related surcharge (e.g., BAF/FAF/

LSS), currency surcharge (e.g., CAF), peak season surcharge (e.g., PSS), war

surcharge (e.g., WRS), port congestion surcharge (e.g., PCS), canal surcharge

(e.g., SCS/SCF), and other per-container USD ocean freight surcharges.

The spot market for shipping liners is defined as a three-month or less contract

market, or a FAK (Freight All Kinds Rates)-based market, or an open market.

The spot market for freight forwarders is defined as a market for retail contracts

between them and clients, and the transaction price in which is not influenced by

such factors as the type of cargo owner or the particulars of container volume.

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