China Ningbo Containerized Freight Index (European and Mediterranean routes) falls slightly
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E-mail Xinhua, January 18, 2020
NINGBO, Jan. 18 (Xinhua) -- The sub-reading of the China Ningbo Containerized Freight Index (NCFI) for the European and Mediterranean routes reported a slight drop.
NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 938.9 points Friday, down 2.6 percent compared with last week.
The sub-reading for the Europe route dropped 1.3 percent week on week to 830.6 points, while sub-indices for east and west Mediterranean routes stood at 812.4 points and 973.7 points, down 0.7 percent and 0.9 percent respectively.
According to the Ningbo Shipping Exchange, as a result of the strong market demand, some liner companies have lowered their booking prices and begin stockpiling voyages for the upcoming Spring Festival.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem
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