China Ningbo Containerized Freight Index (India-Pakistan routes) plummets
The China Ningbo Containerized Freight Index (NCFI) reported a slump in freight indices in the India-Pakistan routes.
The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 643.3 points Friday, up 0.1 percent compared with last week.
The sub-index for the route to India and Pakistan stood at 877.8 points, down 17.2 percent compared with last week.
According to the Ningbo Shipping Exchange, the epidemic continues to spread in the destination ports, resulting in depressed transportation demand and a continuous decline in market freight rates.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.