The China Ningbo Containerized Freight Index (NCFI) reported a significant rise in freight indices in the Black Sea route 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 routes from Ningbo-Zhoushan port to the Black Sea quotes 849.7 points, rising by 38.4 percent 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.