What surcharges apply to Europe & Mediterranean ocean freight?

Six standard surcharges apply to the Asia-Europe/Mediterranean lane: BAF (Bunker Adjustment Factor), LSS (Low Sulphur Surcharge), THC (Terminal Handling Charge, at origin and destination), SCS (Suez Canal Surcharge), ENS (EU Entry Summary Declaration fee), and ISPS (International Ship and Port Facility Security charge). During Q3 peak season (Aug-Oct), PSS (Peak Season Surcharge) is added. EUR/USD currency fluctuations may trigger CAF (Currency Adjustment Factor). European inland destinations incur additional IHC (Inland Haulage Charge) for barge or rail extension.

What is the Asia-Europe BAF rate for July 2026?

The July 2026 BAF reference rate for the Europe/Mediterranean lane is USD 280 per 20GP and USD 560 per 40GP/40HQ. BAF is adjusted monthly or quarterly based on IFO 380 / VLSFO bunker fuel indices (typically benchmarked to Singapore and Rotterdam). BAF cannot be locked in annual contracts — it floats with carrier-published adjustments. Different carriers may have slightly different BAF rates, ranging within USD 20-50 per container of each other.

What is the SCS Suez Canal surcharge and does it still apply in 2026?

SCS (Suez Canal Surcharge) is the cost pass-through of Suez Canal transit fees, which can reach USD 300,000-700,000 per passage for large container vessels. As of mid-2026, most carriers route Asia-Europe vessels via the Cape of Good Hope due to Red Sea security concerns. In this case, traditional SCS may be suspended or replaced by a Cape of Good Hope / Diversion Surcharge. The additional fuel cost of the longer Cape route is typically reflected through EBS (Emergency Bunker Surcharge) or a separate diversion surcharge. Always confirm the carrier's actual routing and corresponding surcharges when booking.

When does Peak Season Surcharge (PSS) apply on Asia-Europe routes?

PSS on the Asia-Europe lane applies during Q3 (July to November), coinciding with the pre-Christmas peak shipping season. Typical PSS ranges from USD 100-200 per 20GP and USD 150-400 per 40HQ. North Europe routes (Rotterdam, Hamburg) tend to see slightly higher PSS than Mediterranean routes. Carriers announce PSS 2-4 weeks in advance. Note that carriers do not always proactively cancel PSS after peak season ends — freight forwarders should actively verify and negotiate removal.

How much are Terminal Handling Charges (THC) for Europe-bound shipments?

Origin THC at Chinese ports: approximately CNY 600-900 per 20GP and CNY 900-1,200 per 40GP/40HQ. Destination THC at European ports (Rotterdam, Hamburg, Antwerp): approximately EUR 150-250 per 20GP and EUR 200-350 per 40HQ. THC covers container loading/unloading, yard storage, tallying, and intra-terminal movement at the port. On the Europe/Mediterranean lane, THC from both origin and destination is typically bundled into all-in freight quotes.

What is the Currency Adjustment Factor (CAF) for EUR/USD?

CAF is charged as a percentage of the base ocean freight, typically 1.5%-3.5%. It applies on Europe/Mediterranean routes when EUR/USD exchange rate fluctuations increase the carrier's euro-denominated costs (port dues, agency fees, barge charges) in dollar terms. During the recent strong-dollar cycle, CAF has been largely suspended or at minimal levels. However, if the dollar weakens materially against the euro, CAF returns quickly — carriers are highly sensitive to currency exposure on this lane.

What are inland haulage costs from European ports?

IHC (Inland Haulage Charge) applies when cargo moves from European base ports to inland destinations. Barge via the Rhine River network (Rotterdam/Antwerp to Germany's Ruhr region): EUR 150-300 per 40HQ — approximately 40-60% of trucking cost. Rail to Central/Eastern Europe (Poland, Czech Republic, Hungary): EUR 400-700 per 40HQ. IHC is not included in standard ocean freight quotes and must be confirmed separately. Using T1 transit documents, importers can move cargo under bond from the port of entry to the destination country for customs clearance, avoiding double duty payment.

Shipping Rate Indices Explained: SCFI, WCI, FBX, CCFI — How to Read Freight Data (2026)

Last updated: July 26, 2026 | By Great Hensen founder, 10-year shipping line pricing veteran

Key Takeaways

SCFI is the most important index for China-based exporters — 15 Shanghai-origin routes, weekly Friday release, spot rates only. For Qingdao departures, add $100-200/40ft to the SCFI rate
No single index tells the full story — SCFI + Drewry WCI gives you China-specific + global context. FBX gives daily snapshots. CCFI adds contract rate visibility
"A freight rate index is a market thermometer — it tells you the temperature and trend, but it cannot tell you the exact price for your container tomorrow" — carrier market strategies (blank sailings, GRI, container rollovers, premium pricing) can push actual transaction prices away from index averages

1. Why Freight Rate Indices Matter 2. The Four Major Indices: Side-by-Side Comparison 3. SCFI — Shanghai Containerized Freight Index 4. Drewry WCI — World Container Index 5. FBX — Freightos Baltic Index 6. CCFI — China Containerized Freight Index 7. How to Use Indices in Practice 8. The Index-Reality Gap: What Indices Cannot Tell You 9. FAQ

1. Why Freight Rate Indices Matter for Shippers

Container freight rates are not publicly listed like airline tickets. There is no single "price" for shipping a container from Shanghai to Rotterdam — rates vary by carrier, contract type (spot vs annual), cargo specifics, and negotiation. Freight rate indices aggregate actual transaction data to provide a representative market price, enabling shippers to benchmark their quotes, anticipate cost trends, time their shipments, and negotiate with data instead of guesswork.

The four core use cases:

Benchmarking: Is your forwarder's quote above or below the market? An index gives you a reference point
Negotiation: When the SCFI is trending down for 3-4 consecutive weeks, you have more leverage. When it is rising, lock in rates quickly
Budgeting: Use index trends to forecast quarterly logistics costs — avoid surprises in your P&L
Timing: Ship when indices are at seasonal lows (typically Q1 and early Q2) to minimize freight costs

2. The Four Major Indices: Side-by-Side Comparison

The four indices serve different purposes. Using the wrong one for your decision is like reading the wrong financial index for your investment. Here is how they compare:

Feature	SCFI	Drewry WCI	FBX	CCFI
Full Name	Shanghai Containerized Freight Index	World Container Index	Freightos Baltic Index	China Containerized Freight Index
Publisher	Shanghai Shipping Exchange (SSE)	Drewry Shipping Consultants (UK)	Freightos + Baltic Exchange	Shanghai Shipping Exchange (SSE)
Routes Covered	15 routes from Shanghai	8 east-west trunk routes	12 major global lanes	12 routes from all Chinese ports
Rate Type	Spot only	Spot only	Spot only (live transactions)	Spot + Contract
Frequency	Weekly (Fri 15:00 BJT)	Weekly (Thu)	Daily	Weekly (Fri)
Includes Near-Sea Routes?	✅ Yes (SE Asia, Japan, Korea)	❌ No (east-west only)	Partially	✅ Yes
Data Source	22 liner companies + 17 NVOCCs	Panel of carriers & forwarders	Freightos marketplace transactions	All major Chinese ports
Base Period	Oct 16, 2009 = 1,000 pts	Not index-based; $/FEU	Not index-based; $/FEU	Jan 1, 1998 = 1,000 pts
Unit	USD/TEU (US routes: USD/FEU)	USD per 40ft container	USD per container	Index points
Free Access?	Partially (delayed data; full access ~CNY 15,000/yr)	Partially (delayed)	Partially (delayed)	Partially (delayed)
Best For	China exporters — spot rate benchmarking (30-90 day outlook)	Global trend analysis, boardroom presentations, media citations	Daily rate monitoring, quick market snapshots	Macro-level China export analysis, contract rate context
One-Sentence Summary	"What is the spot rate from Shanghai right now?"	"Where are global container rates heading?"	"What was the rate this morning?"	"What is the broader China export picture?"

3. SCFI — Shanghai Containerized Freight Index: The China Exporter's Primary Tool

The SCFI is the most important freight rate index for anyone exporting containers from China. Published every Friday at 15:00 Beijing time by the Shanghai Shipping Exchange, it reports spot market rates from Shanghai to 15 destinations worldwide. Data is collected from 22 liner companies and 17 NVOCC freight forwarders — every submission reflects actual booking rates for vessels departing 7-14 days later, making SCFI a forward-looking indicator.

What the composite index means: The headline SCFI number is a weighted average of all 15 routes, with Europe and US routes accounting for approximately 60% of the weighting. This means the composite is heavily influenced by these two major lanes. If you ship to Southeast Asia, always check the route-specific sub-index — the composite may not reflect your actual lane.

Surcharges included in SCFI rates: BAF/FAF (fuel), EBS (emergency bunker), LSS (low sulphur), CAF/YAS (currency), PSS (peak season), WRS (war risk), PCS (port congestion), and canal transit fees. Not included: THC (terminal handling) at either end, port facility security charges, and inland on-carriage — these are local charges that vary by terminal and are not reflected in the index.

Limitations: SCFI reports Shanghai departure only. If you ship from Qingdao, add $100-200 per 40ft for deep-sea routes as a rough premium. It reports spot rates only — your annual contract rate may differ significantly. And it reports averages — DG cargo, OOG cargo, and special equipment are not captured.

4. Drewry WCI — World Container Index: The Global Benchmark

The Drewry World Container Index is the most widely cited global container freight benchmark. Published weekly on Thursdays by Drewry Shipping Consultants (UK), it is a composite of spot freight rates on 8 major east-west container routes, quoted in USD per 40ft container. As of July 16, 2026, the composite WCI stands at $4,547 — down 2% week-on-week, the first decline since late April.

Strengths: Best global benchmark — universally recognized, long historical data series dating to 2011, widely quoted in mainstream media (Financial Times, Wall Street Journal, Reuters). Excellent for boardroom presentations and stakeholder communications.

Limitations: Covers east-west routes only — no north-south (China-Africa, China-South America) or intra-Asia data. Less relevant for regional/short-sea shippers. Quoted per 40ft container, which requires mental conversion if you ship 20ft containers (roughly divide the 40ft rate by 1.6-1.8).

5. FBX — Freightos Baltic Index: Daily Rate Visibility

The FBX is the most frequently updated freight rate index. Powered by real-time transaction data from the Freightos digital freight marketplace and published in partnership with the Baltic Exchange, it provides daily spot rates for 12 major container shipping lanes.

Strengths: Most current data — daily updates vs weekly for SCFI/WCI. Based on actual marketplace transactions, not survey submissions. Useful for daily rate monitoring and rapid market pulse checks.

Limitations: Smaller data sample — only Freightos platform transactions, which represents a fraction of the total container freight market. May not represent the offline/contract market or traditional forwarder-negotiated rates. Less representative of the Chinese export market specifically (Freightos has stronger coverage of Trans-Pacific and Europe-bound lanes from multiple origins).

6. CCFI — China Containerized Freight Index: The Broader China Picture

The CCFI is the bigger, more comprehensive sibling of the SCFI. Also published by the Shanghai Shipping Exchange weekly, it covers 12 routes from all major Chinese ports — Shanghai, Qingdao, Shenzhen, Ningbo, Tianjin, and others — not just Shanghai. Crucially, CCFI includes both spot and contract rates, providing a fuller picture of China's export container market than the spot-only SCFI.

SCFI vs CCFI — the key difference: SCFI = Shanghai only, spot only, sensitive and reactive. CCFI = all China ports, spot + contract, stable and macroeconomic. If you need to know what is happening in the spot market this week, use SCFI. If you need to understand the broader trend over the past month and where contract rates are settling, use CCFI. For Qingdao-based shippers, CCFI is particularly relevant because it includes Qingdao port data that SCFI does not.

7. How to Use Freight Rate Indices in Practice

Here is a five-step workflow for using indices to manage your shipping costs:

Step 1 — Benchmark your quote. When your forwarder gives you a rate, check the SCFI sub-index for your route. If the quote is within 10-15% of the index, it is in the normal range. If significantly higher, ask why — are there DG/OOG surcharges? Special equipment? An urgent booking?

Step 2 — Track the trend. A single weekly number means little. Watch the directional trend over 3-4 weeks. A sustained upward trend = it is time to lock in rates. A sustained downward trend = waiting may save you money. Use a 4-week moving average to smooth out weekly noise.

Step 3 — Time your RFQ. The best time to request quotes is when indices are at seasonal lows (typically January-March). Carriers are more willing to negotiate when demand is soft. Sending an RFQ in August (peak season) will produce the highest quotes regardless of which forwarder you ask.

Step 4 — Contract vs spot decision. If the SCFI shows high weekly volatility (swings of 5%+ week-on-week), the market is unstable — an annual contract provides budget certainty. If the SCFI is stable or trending down, spot buying may be cheaper than committing to a long-term contract.

Step 5 — Communicate with data. Use index charts to explain logistics cost changes to management, customers, or suppliers. "Freight costs increased 15% because the SCFI Europe index rose from $2,100 to $3,400" is a data-backed explanation. "The shipping line raised prices" is not.

8. The Index-Reality Gap: What Indices Cannot Tell You

"A freight rate index is a market thermometer — it accurately tells you the market's overall level and trend. But it cannot tell you the exact price for your container tomorrow."

Carrier market strategies create a gap between index rates and the rate you will actually pay. Understanding this gap is essential to using indices effectively:

Blank (void) sailings: When a carrier cancels a scheduled sailing, capacity tightens on the remaining vessels. The spot rate for those remaining slots can jump well above the index — which still reflects the broader market including the canceled sailing
GRI (General Rate Increase) announcements: Carriers announce GRIs 30 days ahead, but only 40-60% are fully implemented. The index captures the market average — your specific carrier may implement the GRI fully, partially, or not at all
Container rollovers: When your container gets "rolled" to the next vessel (space was oversold), you may need to pay a premium to secure space on the next sailing — a cost the index does not capture
Premium / priority fees: During tight capacity, carriers and forwarders offer "guaranteed space" at a premium above the index rate. These transaction prices are not reflected in survey-based indices

The correct approach: Use indices for trend direction. Use your forwarder's real-time quote for the actual transaction decision. The two are complementary — indices give you the macro context for negotiation; your forwarder gives you the micro reality for execution. Neither alone is sufficient.

9. Frequently Asked Questions

Why is my forwarder's quote different from the SCFI rate?

Normal. SCFI reports Shanghai departure spot market averages. Your quote differs if: (1) your cargo departs from Qingdao/Shenzhen/Ningbo (add $100-300 port differential), (2) your cargo is DG/OOG/overweight (add special cargo surcharges), (3) you have an annual contract (your rate is not a spot rate), or (4) your shipment includes additional services (customs clearance, inland trucking, insurance) not reflected in the port-to-port SCFI rate. A quote within ±15% of the SCFI route rate is generally in the normal range.

Which index should I pay attention to?

For China-based exports: SCFI (weekly, for spot rate benchmarking on your specific trade lane). For global context and stakeholder presentations: Drewry WCI (weekly, universally recognized). For daily monitoring: FBX. For Qingdao-based shippers: CCFI (includes Qingdao port data). The combination of SCFI + Drewry WCI gives you both the China-specific and global picture.

Can freight rate indices be manipulated?

No. SCFI and CCFI are published by the Shanghai Shipping Exchange, a government-affiliated institution, with data collected from 22 independent liner companies and 17 NVOCCs — the sample is large enough that no single carrier can manipulate the index. Drewry is an independent UK-based consultancy. FBX is based on actual marketplace transactions. While no index is perfect, deliberate manipulation is unlikely. However, carrier market strategies (blank sailings, GRI timing) can temporarily push actual transaction prices away from index averages — this is market behavior, not index manipulation.

SCFI and WCI are moving in opposite directions. Which one should I trust?

Both are correct — they are measuring different things. SCFI includes near-sea routes (Southeast Asia, Japan, Korea) that WCI does not cover. WCI is a narrower basket of 8 east-west trunk routes. When they diverge, it means different route groups are experiencing different market conditions. Check the sub-index for your specific trade lane — do not rely on composite indices for route-level decisions.

How often should I check freight rate indices?

Weekly is sufficient for most shippers. Check the SCFI every Friday afternoon (Beijing time) and the Drewry WCI every Thursday. If you are actively negotiating a contract or about to book a large shipment, check daily via FBX. The key is not the frequency of checking but the consistency — track the trend over weeks, not the number on a single day.