China Ningbo Containerized Freight Index (U.S. route) rises significantly
The China Ningbo Containerized Freight Index (NCFI) reported a significant rise in freight indices in the United States routes due to cabin space tension and low sulfur fuel fees.
NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 785.4 points Friday, up 16.5 percent from last week.
Freight indices in the routes from Ningbo-Zhoushan port to the east and west coast of the United States quote 934.9 points and 974.2 points accordingly, rising by 19.5 percent and 27.6 percent from last week.
According to the Ningbo Shipping Exchange, a certain scale of suspended voyages that upgrade cabin space tension and low sulfur fuel fees has brought up the indices. The freight rate is expected to rise in December.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.