China Ningbo Containerized Freight Index (Red Sea routes) plummets

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NINGBO, June 7 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a significant drop in freight indices in the Red Sea routes.

The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 702.7 points Friday, down 2.4 percent compared with last week.

The sub-index for the route to Red Sea stood at 598.2 points, down 27.2 percent compared with last week.

According to the Ningbo Shipping Exchange, the shipping space on the route is abundant, and the market freight rate fluctuates sharply in the short term.

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

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