China Ningbo Containerized Freight Index (Middle East routes) falls

0 Comment(s)Print E-mail Xinhua, May 23, 2020
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NINGBO, May 23 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a 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 690.9 points on Friday, down 2.2 percent compared with last week.

The sub-reading for the Middle East quoted 578.8 points, down 11.7 percent compared with last week.

According to the Ningbo Shipping Exchange, as the market demand for freight transportation is sluggish, the supply exceeds the demand and the market freight rate continues to fall.

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

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