News
The composite Ningbo Containerized Freight Index (NCFI) stood at 1,272.3 points in Week 16, which picked up 1.2% from the previous week, as space supply was tight on the route from Ningbo-Zhoushan to the east coast of South America, according to the Ningbo Shipping Exchange (NBSE). The index has stayed on an upward trend for four weeks in a row. On the 21 trade lanes to which the individual NCFIs are applied, there were increases on 11 and decreases on nine. On the 16 routes to major ports on the so-called Maritime Silk Road, there were increases on 10 and decreases on six.
More specifically, the NCFIs fell 1% to 1,286 points to Europe and 0.9% to 1,470 points to the Eastern Mediterranean. To the Western Mediterranean, it stayed flat at 1,748.1 points.
On the trade to North America, the NCFIs sank 0.1% to 1,211.4 points to the east coast and 0.5% to 1,654 points to the west coast.
The NCFI waned 7.2% to 1,601.3 points to the Middle East. To the east coast of South America, in contrast, the index surged 15% to 2,575.7 points as demand remained massive for shipments bound for destinations in the region.
The NCFI is an indicator for freight rates for container exports from Ningbo-Zhoushan in China, which was set at a baseline point of 1,000 in Week 10 of 2012.
