The Port of Valencia Authority (PAV)’s export freight rates have eased but remain low, with the cost of marine transport from the Valencian enclosure declining by 6.78 per cent in August compared to July.
The Valencia Containerised Freight Index (VCFI), which tracks the trend and development of freight from the Valencian area, reflects this, remaining at levels comparable to the first half of 2020.
Since the start of the historical series in January 2018, the VCFI has grown by 21.20 per cent.
The declining trend in export freight rates from Valenciaport’s piers to the Far East area has also calmed, with a 3 per cent dip compared to the 18.92 per cent decline in July of this year.
READ: Port of Valencia witnesses 10 per cent TEU decline
Along the same lines, the VCFI shows a moderate fall in the index with the Middle East (down 12.19 per cent) and also with the Western Mediterranean (down 13.20 per cent) but a significant fall in the areas of Latin America Atlantic (down 20.44 per cent).
The world trade continues to be marked by the slowdown in the international economic recovery – growth weighed down by high inflation and indebtedness – and, in parallel, transport prices are also falling.
On the other hand, for the first time in the last six months, the price of bunkering has risen in the 20 most important ports of the world, experiencing an increase of 8.30 per cent in comparison with July.
In August 2023, PAV purchased a hydrogen fuel cell reachstacker from Hyster, a container handling equipment manufacturer.
One month later, the Port of Valencia announced that 42 private institutions voluntarily aligned themselves with the ‘Valenciaport 2030 Zero Emissions’ initiative.
