China Ningbo Containerized Freight Index (Middle East routes) plummets

0 Comment(s)Print E-mail Xinhua, February 14, 2020
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NINGBO, Feb. 14 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a plummet 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 827 points on Friday, down 8.3 percent compared with last week.

The sub-reading for the Middle East quoted 1,094.9 points, down 7.3 percent compared with last week.

According to the Ningbo Shipping Exchange, remaining a large scale of suspension of their service in light of the insufficient goods, liner companies are still not optimistic about the subsequent market demand.

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

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