China Ningbo containerized freight indices for European, Mediterranean routes down
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E-mail Xinhua, January 11, 2020
NINGBO, Jan. 11 (Xinhua) -- The sub-indices of the China Ningbo Containerized Freight Index (NCFI) for European and Mediterranean routes reported drops.
The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 964 points Friday, down 3.7 percent compared with the previous week.
The sub-reading for the Europe route dropped 7.8 percent week on week to 841.6 points, while sub-indices for east and west Mediterranean routes dropped 4.2 percent and 0.8 percent, respectively.
According to the Ningbo Shipping Exchange, some liner companies have begun stockpiling voyages during and after the holiday season, and lowered their booking prices to increase cargo deliveries.
The NCFI was first published in September 2013. Enditem
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