China Ningbo Containerized Freight Index (South America routes) plummets

0 Comment(s)Print E-mail Xinhua, February 22, 2020
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NINGBO, Feb. 22 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a significant drop in freight indices in the East South America routes.

The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 780.6 points Friday, down 5.6 percent compared with last week.

The sub-index for the route to east coast of South America stood at 1,019.6 points, down 11.6 percent compared with last week.

According to the Ningbo Shipping Exchange, the low market volume caused liner companies to adjust their pricing strategies to cope with the off-season market.

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

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