China Ningbo Containerized Freight Index (Europe & Mediterranean routes) rises slightly

Source: Xinhua

NINGBO, Aug. 8 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a slight 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 837.3 points on Friday, up 1.2 percent compared with last week.

The sub-index for the route to Europe stood at 671.3 points, increasing by 0.4 percent compared with last week. Freight indices in the route to the east coast of Mediterranean quoted 655.2 points, up 4.7 percent against last week, while that in the route to the west coast quoted 697 points, up 5.7 percent.

According to the Ningbo Shipping Exchange, as the market transportation demand slowly picked up, liner companies plan to push up the freight rates after mid-August.