The Valencia Containerised Freight Index (VCFI) stood at 1,835.95 points in July, representing a 3.01 per cent monthly decrease and a 3.1 per cent total gain since the beginning of the year.
This pricing index is based on export prices recorded by the Port of Valencia in 13 geographical regions across the world.
Valenciaport noted that this change in index value is unevenly distributed throughout the data’s time range and across the geographical areas that comprise the index.
In this regard, the Far East (-16.64 per cent), Latin America’s Atlantic (-18.54 per cent), and the Indian Subcontinent (-19.88 per cent), among others, have seen the greatest decreases.
In contrast, commodities from Central America and the Caribbean climbed by 11.10 per cent, as did Atlantic Europe (8.84 per cent).
The drop happens in a setting characterised by an increase in operating expenses in marine sector activity (due to the geopolitical environment and the scheduling of longer routes that bypass the Red Sea), but it also occurs in a climate of global economic development, reported the port authority.
According to the current VCFI study in July, European ports had a minor decrease in traffic, which was offset by an increase in Chinese ports.
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The decrease in European ports has been balanced by an increase in other regions.
While container traffic at Chinese ports increased slightly, the North Range index, which measures economic performance in the northern Eurozone and Germany, fell from 112.9 points the previous month to 111.3 points in July.
The Western Mediterranean sub-index fell by 10.67 per cent from the previous month to 1,849.29 points.
Regarding the dynamism of economic exchanges between Valenciaport and the reference nations that comprise the area, the most current figures reveal a decline in traffic with Morocco, while an increase in activity with Tunisia and Algeria.
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In the Far East area, a fall of 16.64 per cent has been recorded, reaching 1,959.65 points.
The reading of trade with this area has shown an increase in Valenciaport’s traffic with China, the region’s main trading partner.
An official from the port stated: “Although consumer demand and anticipation of imports could keep activity levels high, there is uncertainty as to whether these record levels will be sustained during the traditional high season.“
