Note: 1994 = 100.
Continuous Commodity Index and Average Container Shipping Rates, 1994-2011
The container shipping rate is an un-weighted average of shipping rates per TEU along four major long distance shipping routes (Asia - United States and Asia - Europe). Between the mid-1990s and the early 2000s, container shipping rates have on average been declining as economies of scale were applied in maritime shipping. During the same period the Continuous Commodity Index (CCI) followed a related trend. While the CCI surged after 2002, the average container shipping rate continued its overall decline (inflation adjusted). From a cargo value / transport cost per TEU proposition, the containerized shipping of commodities has become more advantageous, and this even after the sharp correction that took place in late 2008 due to the unfolding financial crisis. This correction also had a deflationary impact on container shipping rates, so the spread between the evolution of the price of commodities and container shipping rates remains significant.