China Ningbo Containerized Freight Index (South America routes) soars
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E-mail Xinhua, May 31, 2020
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NINGBO, May 31 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a soar in freight indices in the South America routes.
The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 720.0 points Friday, up 4.2 percent compared with last week.
The sub-reading for the east coast of the South America quoted 769.8 points, up 22.4 percent from last week.
According to the Ningbo Shipping Exchange, liner companies plan to further reduce capacity and push up freight rates, and the freight rate rises sharply this week on route to the east coast of South America.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem
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