China Ningbo Containerized Freight Index (Red Sea routes) tumbles

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NINGBO, July 2 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a slump 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 737.3 points in June, up 5.2 percent month on month and up 14.2 percent year on year.

The sub-index for the Red Sea routes stood at 712.9 points, down 21.8 percent month on month and down 30.5 percent year on year, according to the Ningbo Shipping Exchange.

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

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