The China Ningbo Containerized Freight Index (NCFI) reported a relatively big drop in freight indices in the routes to the west coast of South America.
The NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 938.2 points on Jan. 31, up 0.2 percent compared with last week.
The sub-index for the route to the west coast of South America stood at 865.5 points, down 4.6 percent from last week.
According to the Ningbo Shipping Exchange, there were few new sources of shipment during the Spring Festival and the shipping prices fell slightly this week.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
Source: Xinhua
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