VCFI confirms development
The Valencia Containerised Freight Index (VCFI) has begun the new year with a growth of 10.41% in line with the second half of 2019. The demand in the shipping market is also reflected in the low share of the idle fleet, which stands at 1%.
In January, all the geographical areas analysed by the index experienced increases in freight rates, in the case of the Western Mediterranean by 3.05% and the Far East by 4.24%.
Thus, the VCFI created by the Port Authority of Valencia to reflect the evolution of maritime transport rates reaches 1,571.29 points, accumulating an improvement of 57.13% since the beginning of the series in 2018.
One of the factors in the variation of freight rates is to be found in the average price of a barrel of European Brent, which in January has once again recorded an increase of 9.56%, making it three consecutive months on the rise. (cd)