NINGBO, Oct. 23 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a slight increase 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 1,247.1 points on Friday, up 2.9 percent compared with last week.
The sub-index for the route to Europe stood at 856.3 points, increasing by 1.8 percent compared with last week. Freight indices in the route to the east coast of Mediterranean quoted 833.7 points, up 3.4 percent against last week, while that in the route to the west coast quoted 950.9 points, up 2.4 percent.
According to the Ningbo Shipping Exchange, as the available capacity of the route decreased, the overall shipping space is tight, causing the market booking price to rise.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013. Enditem