China Ningbo Containerized Freight Index remains stable in Europe and fluctuates slightly in Mediterranean

The China Ningbo Containerized Freight Index (NCFI) remains stable in Europe and fluctuates slightly in Mediterranean routes.

NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 936.3 points Friday, down 0.3 percent compared with last week.

The sub-index for the route to Europe stood at 830.9 points, remaining almost the same as last week. Freight indices in the routes to the east coast of Mediterranean quoted 813.2 points, up 0.1 percent against last week while that in the route to the west coast quoted 932.2 points, down 4.3 percent.

According to the Ningbo Shipping Exchange, since it was the last week before the Chinese Lunar New Year, there remains a strong market demand, and some liner companies have begun stockpiling voyages for the upcoming festival.

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