China Ningbo Containerized Freight Index falls slightly

NINGBO (Xinhua) – The China Ningbo Containerized Freight Index (NCFI) reported slight drops in freight indices in the United States (US) routes this week 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 882.3 points yesterday, up by 3.4 per cent against last week.

Freight indices in the routes from Ningbo-Zhoushan port to the east and west coast of the US quote 858.5 points and 819.9 points respectively, dropping by 1.4 per cent and 1.8 per cent from last week.

According to the Ningbo Shipping Exchange, as market wait-and-see sentiment rises, part of the shippers slow down the new year cargo shipments which have brought down the indices.