NINGBO, Dec. 13 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) in the Europe & Mediterranean routes rises significantly this week as spring festival cargo pushes up demand for shipment.
NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 853.2 points Friday, up by 10.2 percent against last week.
Freight indices in the route from Ningbo-Zhoushan port to Europe quotes 784.1 points, up 24 percent, while indices in the routes to the east and west coast of the Mediterranean quote 751.0 points and 870.0 points accordingly, up 44.2 percent and 48.9 percent respectively from last week.
According to the Ningbo Shipping Exchange, spring festival cargo pushes up demand for shipment that tightens cabin space has raised the booking price.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
