China Ningbo Containerized Freight Index (Middle East routes) falls slightly

0 Comment(s)Print E-mail Xinhua, February 7, 2020
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NINGBO, Feb. 7 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a slight fall in freight indices in the Middle East routes.

NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 901.7 points Friday, down 3.9 percent compared with last week.

The sub-reading for the Middle East quoted 1,180.7 points, declining slightly by 1.2 percent compared with last week.

According to the Ningbo Shipping Exchange, liner companies are shrinking their capacity on a large scale to cope with the off-season market, and some liner companies have slightly reduced their offers.

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

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