The China Ningbo Containerized Freight Index (NCFI) has seen a significant drop in freight indices in the Australia and New Zealand route due to decline of shipment demand.
NCFI, a wind vane of China’s busiest port’s freight rates for the international container shipping market, stood at 674.2 points Friday, down 2.3 percent from last week.
Freight indices in the route from Ningbo-Zhoushan port to the ports in Australia and New Zealand quotes 1,289.7 points, dropping by 15.8 percent from last week.
According to the Ningbo Shipping Exchange, the decline of shipment demand and intensifying market competition has brought down the indices.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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