China Ningbo Containerized Freight Index (Middle East routes) rises significantly

0 Comment(s)Print E-mail Xinhua, October 23, 2020
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NINGBO, Oct. 23 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a significant rise in freight indices in the Middle East routes.

NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 1,247.1 points on Friday, up 2.9 percent compared with last week.

The sub-reading for the Middle East routes quoted 1,204.6 points, up 10.6 percent compared with last week.

According to the Ningbo Shipping Exchange, the shortage of shipping space pushed liner companies to continue to raise freight rates.

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

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