Valencia Containerized Freight Index (VCFI) rises for the 15th Straight Month

The Valencia Containerized Freight Index (VCFI), the indicator that measures the trend and evolution of container transport costs by sea from the Port of Valencia, stood at 3,743.95 points in October, which represents an increase of 5.23% over the previous month: its 15th consecutive months of growth.

Since the beginning of 2018, the VCFI has registered an increase of 274.39%. In looking at the regions covered in the index, only Eastern Mediterranean has suffered a slight decrease.

Key points of the latest report include:

• The VCFI continues to be marked by the high demand for maritime traffic, fuel prices and congestion in areas such as the United States
• The idle fleet at the end of October stands at 0.5% of the total fleet and reaches 124,919 containers
• The Index grows in all geographical areas except the Eastern Mediterranean. Central America and the Caribbean (+10.13%) and Latin America Pacific (+9.76%) are the areas with the highest growth
• The celebration of the "Golden Week" in China has paused logistics activity in this area for a week, which has affected supply chains
  
  

Another determining factor in the growth of the Index is the average price of a barrel of European Brent crude oil, which has increased by 12.09% in October compared to the previous month, from $74.49 in September to $83.50 in the last reference month. 

In regards the price of bunkering in the 20 main ports of the world, according to the data offered by Ship&Bunker, the average price of IFO 380 (Intermediate Fuel Oil) has risen from $489 in September to $515 dollars in October, which represents an increase of 5.31%. Similarly, VLSFO (Very Low Sulfur Fuel Oil) has increased by 9.02%, from $581.5 in September to $634 per tonne in October.