News
The Ningbo Containerized Freight Index (NCFI) fell 3.7% to 614 points in Week due to a slow recovery in export demand, according to the Ningbo Shipping Exchange (NBSE). Of the 21 trade routes, indices rose on four but fell on 17. On routes to major ports on the so-called Maritime Silk Road, indices picked up on those to five but down on those to 11.
At a time when container movement has begun gradually improving on the route to Europe, shipping companies are refraining from blanking sailings to some degree. As a result, the balance between supply and demand has loosen, making spot rates fluctuate in small ranges. The freight index to Europe was 546.7 points, up 1.6%; to the eastern Mediterranean, 876.1 points, down 5.8%; and to the western Mediterranean, 1,003.4 points, down 1.3%.
The NCFI is an index for exports from Ningbo to destinations on the Maritime Silk Road, which was set at 1,000 points in Week 10 of 2021.
