- The Ningo Containerised Freight Index has reported a Decrease in shipping rates from Ningo Port.
- Surcharges included in the total ocean freight reported war risk surcharge and peak season surcharge among others.
Ningbo Index states that freight rates on shipping routes from the Chinese port of Ningbo to key European and Mediterranean destinations have dropped last week. The importers and exporters welcome this decline as it potentially eases costs for goods transported between Asia and Europe and reflects adjustments in global supply chain dynamics.
| Route | 09-08-2024 | 02-08-2024 | Weekly change (%) |
| Ningbo – Europe | 3410.71 | 3505.84 | -2.71 |
| Ningbo – West Mediterranean | 2906.38 | 3117.13 | -6.76 |
| Ningbo – East Mediterranean | 2257.74 | 2381.37 | -5.19 |
| Ningbo – Middle East | 1633.07 | 1778.22 | -8.16 |
| Route | Port Served |
| Ningbo – Europe | Hamburg & Rotterdam |
| Ningbo – West Mediterranean | Barcelona, Valencia & Genoa |
| Ningbo – East Mediterranean | Piraeus & Istanbul |
| Ningbo – Middle East | Dammam & Dubai |
Factors Influencing Freight Rates
Several factors contribute to fluctuations in container freight rates, including fuel costs, port congestion, and global trade dynamics. While the current decline offers some relief to importers, industry experts caution that shipping costs can be volatile.
Surcharges Included
These surcharges are factored into the quoted price by the shipping line and are included in the NCFI. They include:
- Bunker adjustment factor (BAF)/fuel adjustment factor (FAK)/low sulfur surcharge (LLS)
- Emergency bunker surcharge (EBS)/emergency bunker additional
- Currency adjustment factor (CAF)/Yen applicable surcharge (YAS)
- Peak season surcharge (PSS)
- War risk surcharge (WRS)
- Port congestion surcharge (PCS)
- Suez Canal transit fee/surcharge (SCT) / Panama Canal surcharge (PCS) / Panama Canal charge (PCC)
Surcharges Not Included
These surcharges are billed separately by the shipping line or other service providers and are not included in the NCFI. They include:
- Terminal operation fee (TOF)
- Security charge (SC)
- Origin received charges (ORC)
- Inland point intermodal (IPI)
- Booking fee
- Customs clearance
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Source: Baltic Exchange
