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October 24, 2015

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Ningbo index docks on Baltic Exchange

A Chinese shipping index debuted yesterday on the website of London’s Baltic Exchange, China’s first such index issued abroad, said the country’s top economic planner.

The Ningbo Containerized Freight Index by the Ningbo Shipping Exchange is also the first index calculated by another institution used by the Baltic Exchange since its founding, according to the National Development and Reform Commission.

The NCFI covers shipping information on four routes from Ningbo to Europe, the Middle East, West and East Mediterranean.

Ou Xiaoli, an official with the Department of Western Region Development under the NDRC, said the move will boost cooperation between countries along the 21st Century Maritime Silk Road, and provide more Chinese high-end shipping services for the world.

The two sides will continue researching and releasing other indexes, Ou added.

Founded in 1744, the Baltic Exchange is a major world maritime market information provider.


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