NINGBO, July 11 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a soar 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 786.9 points Friday, down 1.4 percent compared with last week.
The sub-index for the route to Red Sea stood at 1,174.8 points, up 25.5 percent compared with last week.
According to the Ningbo Shipping Exchange, as the shipping space is tight, market freight rates rises significantly.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem
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