China Ningbo Containerized Freight Index (Middle East routes) drops

0 Comment(s)Print E-mail Xinhua, January 18, 2020
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NINGBO, JAN. 18 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a decline in freight indices in the Middle East route.

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 route from Ningbo-Zhoushan port to the Middle East stood at 1,194.0 points, declining by 8.0 percent from last week.

According to the Ningbo Shipping Exchange, the loading rate of the routes has remained high, and some liner companies have reduced their prices, expanded their pick-up and stocked for voyages during the holidays, thereby driving down the market freight rate.

Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem

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