The Valencia Containerised Freight Index (VCFI) has been developed by the Valencia Port Authority and the Valenciaport Foundation.
The VCFI will be published on the second Friday of each month.
The new index fills the gap in the western Mediterranean, an area that accounts for 3.8% of world trade but lacks its own indicator for export freight rates.
The international container export market has a new reference in the evolution of maritime freight rates. This is the VCFI: the Valencia Containerised Freight Index. An index that will record the freight rates of several maritime routes connecting the Mediterranean with other destinations in the world. It will be a global reference. The VCFI has been developed by the Port Authority of Valencia (APV for its acronym in Spanish) and the Valenciaport Foundation, and was presented this morning to the Port Community in the Clock Building of the Port of Valencia.
The VCFI is intended to be a reference index in the Western Mediterranean, just as the Shanghai Containerized Freight Index is for the Asian area. “The VCFI thus aims to fill a gap and a need for indicators that existed in the Mediterranean area with the greatest commercial traffic, given that despite representing 3.8% of world trade, it did not have its own indicator on the evolution of cargo or export freight rates to date”, according to the president of the Port Authority of Valencia (APV), Aurelio Martínez.
Read more on valenciaport.
