China's export container shipping price index down in July

BEIJING, Aug. 16 (Xinhua) -- China's export container shipping price index dropped in July, data from the Shanghai Shipping Exchange shows.

The average China Containerized Freight Index (CCFI) stood at 869.89 last month, down 5.3 percent from June, according to the shipping exchange.

The sub-reading for the Korea service led the decline, with a month-on-month decrease of 13 percent. It was followed by the Europe service and Mediterranean service, which fell 6.9 percent and 6.5 percent, respectively.

The CCFI tracks spot and contractual freight rates from Chinese container ports on 12 shipping routes across the globe, based on data from 22 international carriers.

The index was set at 1,000 on Jan. 1, 1998.