Export freight rates from the Port of València are growing again and in the last month recorded an increase of +0.09%, the first increase since August 2022.
This is reflected in the València Containerised Freight Index (VCFI) which measures the trend and evolution of the freight rates of the Valencian enclosure and which in November stands at 1,184.76 points remaining at similar levels to those recorded during the year 2020. The VCFI has accumulated growth since the beginning of the historical series in January 2018 of 18.48%.
Export freights from Valenciaport’s docks
The Index also reflects a strong increase in export freights from Valenciaport’s docks to the Far East area, which in recent months showed signs of stabilisation, registering more attenuated decreases, and which in the eleventh month of the year has risen by +43.08%.
Likewise, the index for the Africa West Coast area also grew by +16.48%, that for Africa East Coast by +7.19%, and the Western Mediterranean sub-index: by +3.41%. This evolution of freight from the Port of València corresponds to the general trend of the main reference indices (which have a more global component and respond more immediately to market dynamics) such as the Shanghai Containerised Freight Index (SCFI).
VCFI Western Mediterranean
As far as Valenciaport is concerned, an increase in the volume of exports to Morocco of +2% has been observed
As far as the Western Mediterranean sub-index is concerned, November saw a further increase of +3.41% over October 2023, making it the third consecutive month of increase. It has thus already reached 11,548.44 points, representing an accumulated growth of 54.84% since the beginning of the series in 2018.
As far as Valenciaport is concerned, an increase in the volume of exports to Morocco of +2% has been observed since October 2023. Similarly, exports to Tunisia have increased by +34%, and, as for Algeria, these continue to be minimal due to geopolitical problems, even decreasing concerning October 2023.
VCFI Far East
As for the Far East area, a significant increase of +43.08% has been recorded, reaching 1,213.42 points, representing a cumulative growth of 21.34% since the beginning of the series in January 2018. In this sense, export levels from Valenciaport to China, which is the main trading partner, have increased by +24% according to the latest available data concerning October 2023.