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China Supports China-Europe Railway "CRExpress" by Paying for War Insurance

The Chinese government will begin to support the China-Russia/European cross-border freight rail transport "Central Rail Express (CRExpress)". The program is designed to help shippers pay for war insurance, which provides compensation for damage caused by fighting at the shipper's expense, by an operator under the local government. There is a move to reduce freight rates by about 20% in some areas. Although war insurance is not mandatory, the operators are aiming to promote the use of CRExpress as a freight sourcing by reducing the burden and concerns of shippers. The Central Europe Hantai route, which connects China and Hungary via Ukraine, has been changed to a route that bypasses areas where heavy fighting continues.


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CCFI Summary week 14

Ocean freight rates decreased via North America East Coast (-3.9% week-over-week), North America West Coast (-2.8%), Europe (-0.7%), and Korea (-1.9%).


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