NINGBO, June 13 (Xinhua) — The China Ningbo Containerized Freight Index (NCFI) reported a slump in freight indices in the east South America routes.
The NCFI, reflecting freight rate changes of 21 routes departing from the Ningbo-Zhoushan port, stood at 737.7 points Friday, up 5 percent compared with last week.
The sub-reading for the east coast of South America quoted 564.3 points, down 18.6 percent from last week.
According to the Ningbo Shipping Exchange, the novel coronavirus outbreak in Brazil has brought great uncertainty to the recovery of transportation demand. The sluggish shipping demand has led to a continuous drop in freight rates.
Reported every Friday (except Chinese holidays), the NCFI was first published in September 2013.