China Ningbo Containerized Freight Index (South America routes) slumps

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NINGBO, July 4 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a plunge in freight indices in the east South America routes.

The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 798.4 points Friday, up 2.9 percent compared with last week.

The sub-reading for the east coast of the South America quoted 366 points, down 25.2 percent from last week.

According to the Ningbo Shipping Exchange, as the epidemic in the destination country led to a continuous downturn in the shipping demand, the market freight rate slumped.

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

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