China Ningbo Containerized Freight Index (Red Sea routes) down 8.3 pct

0 Comment(s)Print E-mail Xinhua, March 20, 2020
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NINGBO, March 20 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a drop in freight indices in the Red Sea routes.

The sub-index for the route to the Red Sea stood at 901.0 points, down 8.3 percent compared with last week.

According to the Ningbo Shipping Exchange, as market volume recovered slowly, liner companies cut down the price to gain more goods.

The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 771.8 points, down 1.1 percent compared with last week.

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

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