Ningbo Containerized Freight Index (NCFI), a composite index compiled by Ningbo Shipping Exchange (NBSE), has made its debut on the London-headquartered Baltic Exchange last Friday, according to an announcement posted on the website of the National Development and Reform Commission (NDRC).
The index, officially released in China in September 2013, was the first outer index that the Baltic Exchange issued since 1744 and meant much for China's 21st Century Maritime Silk Road initiative.
Currently, four indices of NCFI covering shipping lines between east China's Ningbo and Europe, West Mediterranean, East Mediterranean as well as the Middle East are available for Baltic Exchange's clients to learn related container freight cost and price fluctuations.
From last Friday, NCFI will be updated on the website of the Baltic Exchange every week, which is a part of their agreement under which the two sides will go on to co-release the Baltic Exchange-Ningbo Shipping Exchange Silk Road Container Index.
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