China Ningbo Containerized Freight Index down 14.3 pct in February
The average China Ningbo Containerized Freight Index (NCFI) in February stood at 819.0 points, down 14.3 percent from January and 13.7 percent over the previous year.
The index is issued monthly by the Ningbo Shipping Exchange, located in the Ningbo-Zhoushan port in east China’s Zhejiang Province.
The index calculates and records the container freight rates of 21 routes departing from the Ningbo-Zhoushan port, including a composite index and 21 indexes of branch routes.
Of the 21 routes, the indices all fell in February. Among the major ports along the 21st Century Maritime Silk Road, 18 reported lower rates.