China Ningbo Containerized Freight Index (South America route) reports 21.3-pct drop

The China Ningbo Containerized Freight Index (NCFI) has seen a significant drop in freight indices in the South America west coast route due to slowdown of market shipments.

NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 774.3 points Friday, down 1.4 percent from last week.

Freight indices in the route from Ningbo-Zhoushan port to the west coast of South America quotes 825.2 points, falling by 21.3 percent from last week.

According to the Ningbo Shipping Exchange, the weak shipping demand dragged down the index after a big rise in booking price last week.

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