NINGBO, Nov. 9 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a 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 1,224.4 points in October, up 4.8 percent compared with last month.
The sub-index for the route to Europe stood at 857.3 points, increasing by 0.8 percent compared with last month, and up 94.1 percent year on year. Freight indices in the route to the east coast of Mediterranean quoted 829.3 points, up 3 percent against last month, and up 70.8 percent year on year, while that in the route to the west coast of Mediterranean quoted 952.5 points, up 6.4 percent compared with last month, and up 74.4 percent year on year.
According to the Ningbo Shipping Exchange, the market did not enter the off-season market as in previous years, and the demand remained strong. Due to the tight supply of transport capacity, freight rates rose slightly compared with last month.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
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