China Ningbo Containerized Freight Index (U.S. routes) remains stable

Xinhua
23 May 2020, 16:00 GMT+10

NINGBO, May 23 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a stable trend this week in freight indices in the U.S. routes.

The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 690.9 points Friday, down 2.2 percent compared with last week.

The sub-readings for the east and west coast of the United States quoted 877.3 points and 1,036.5 points, up 0.3 percent and 0.2 percent from last week respectively.

According to the Ningbo Shipping Exchange, as liner companies reduced shipping capacity on the route to the west coast of the United States, the shipping space is still tight, while the supply and demand fundamentals remained stable on the route to the east coast of the United States. The market freight rate was generally stable.

Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.

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