China Ningbo Containerized Freight Index (West Africa route) rises significantly

NINGBO, Jan.

3 (Xinhua) -- The China Ningbo Containerized Freight Index (NCFI) reported a significant rise in freight indices in the West Africa route as the Spring Festival cargo pushed up demand for shipment. NCFI, a wind vane of China's busiest port's freight rates for the international container shipping market, stood at 1,001.2 points Friday, up 3 percent against last week. Freight indices in the routes from Ningbo-Zhoushan port to West Africa quotes 950.4 points, rising by 18.0 percent from last week.

According to the Ningbo Shipping Exchange, the Spring Festival cargo pushes up demand for shipment that tightens cabin space and adjustment of shipping price by the liner company, which caused the booking price to rise sharply.

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

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