Economy > Trade

China NCFI (Europe & Mediterranean routes) rises significantly in September

Xinhua News,NINGBO
2020-10-12 13:05

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NINGBO, Oct. 12 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a significant rise in freight indices in the Europe and Mediterranean routes.

NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 1,167.8 points in September, up 28.5 percent compared with last month.

The sub-index for the route to Europe stood at 850.4 points, increasing by 20.9 percent compared with last month, and up 81.5 percent year on year. Freight indices in the route to the east coast of Mediterranean quoted 805.0 points, up 19.1 percent against last month, and up 48.1 percent year on year, while that in the route to the west coast of Mediterranean quoted 895.5 points, up 22.1 percent compared with last month, and up 48.5 percent year on year.

According to the Ningbo Shipping Exchange, the market is in the peak season, and the space on the Europe and Mediterranean route continues to be tight. This month, the market booking price rose sharply from last month and from a year ago.

Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
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