NINGBO, Nov. 9 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) has seen a remarkable rise in freight indices in the South America west coast route amid reduced shipping capacity.
The NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 725.9 points Friday, down 2.3 percent from last week.
Freight indices in the route from Ningbo-Zhoushan port to the west coast of South America quotes 1,238.3 points, increasing by 37 percent from last week.
According to the Ningbo Shipping Exchange, the reduction of shipping capacity and adjustment of shipping price by the liner company caused the booking price to rise sharply. The overall freight price is close to 3,000 USD/FEU (Forty-foot Equivalent Unit).
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
