China Ningbo Containerized Freight Index (South America routes) falls significantly
The China Ningbo Containerized Freight Index (NCFI) reported a significant drop in freight indices in the routes to the west coast of South America.
NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 938.9 points Friday, down 2.6 percent compared with last week.
The sub-index for the route to the west coast of South America stood at 905.0 points, declining by 9.0 percent from last week.
According to the Ningbo Shipping Exchange, supply and demand in the market remains good, and some liner companies continue to reduce prices to maintain the supply of goods and make preparations for cargo voyages during the Spring Festival.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.