NINGBO, Nov. 15 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported significant drops in freight indices in the United States routes this week due to slowdown of market shipments.
NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 690.2 points Friday, down 4.9 percent from last week.
Freight indices in the routes from Ningbo-Zhoushan port to the east and west coast of the United States quote 829.8 points and 818.1 points accordingly, dropping by 7.6 percent and 12.2 percent from last week.
According to the Ningbo Shipping Exchange, the slowdown of cargo shipments and intensifying market competition have brought down the indices.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.