News
The composite Ningbo Containerized Freight Index (NCFI), an indicator for container exports from the Chinese port that was set at 1,000 points in Week 10 of 2012, improved a minute 0.1% from the previous week of 702.4 points in Week 20, according to the Ningbo Shipping Exchange (NBSE). The composite index has increased for the first time in five weeks. On the 21 trade routes to which the individual NCFIs are applied, there were increases on eight, while the remaining 13 routes saw decreases. As for the indexes for freight rates for routes to major ports on the so-called Maritime Silk Road, there were rises on routes to eight ports and falls on those to eight ports.
In Week 20, shipping lines adjusted capacity on the trade to India and Pakistan when freight movement continued to grow. As a consequence, the supply of space on containerships tightened, leading to notable increases in spot rates. The freight rate also surged 29.6% to 1,076.3 points.
