Ningbo Containerised Freight Index: Weekly Update (22 Nov 2024)

By
Mfame Editor
-
15

  • Freight Rates Continue to Decline Across Key Routes.
  • Key routes connect Ningbo to ports like Hamburg, Barcelona, Istanbul, and Dubai.
  • Transactional Data Backed by Leading Logistics Providers.

The Ningbo Containerised Freight Index (NCFI) is a weekly index compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, reporting 20ft, 40ft, and Hi-Cube containers. The data reported will represent freight trends on major shipping routes, reports Baltic Exchange.

Reporting Schedule

They are published every Friday at 1600 (Beijing), except for Chinese holidays. Weekly Rate Changes (22 November 2024 vs. 15 November 2024)
The rate for the Ningbo – Europe route fell by 2.26% down to 1699.15 from 1738.42. Meanwhile, the Ningbo-West Mediterranean route saw a decline of 3.40%. The rates fell from 1950.74 to 1884.32. A greater decline was experienced in the Ningbo – East Mediterranean route, where rates fell by 4.47%, from 1614.65 to 1542.51. The deepest fall was noted on the Ningbo – Middle East route, which witnessed an 8.62% decline; with rates falling from 1109.77 to 1014.11.

Routes and Ports Served

The Ningbo – Europe route serves the ports of Hamburg and Rotterdam. The Ningbo – West Mediterranean route connects to Barcelona, Valencia, and Genoa. For the Ningbo – East Mediterranean, the primary ports served are Piraeus and Istanbul. Lastly, the Ningbo – Middle East route services the ports of Dammam and Dubai.

Data Providers

The index is drawn from transactional data submitted by several logistics providers, such as CCL Logistics Co., Headwin Logistics Co., Ltd, Ningbo E-Union Group of China, Zhejiang Xinggang International Freight Co., Ltd, Perfectever Logistics (Ningbo) Co., Ltd, Ningbo Jet Express International Freight Forwarding Co., Ltd, Dashing International Logistics, Huanji International, De Well Group, Whale Logistics Co., Ltd, and Sinotrans Ningbo Logistics Co., Ltd.

Surcharges Included in Total Freight Reported

  1. Fuel Costs: Bunker adjustment factor, low sulphur surcharge, emergency bunker surcharge/additional.
  2. Currency Adjustments: Currency adjustment factor, Yen application surcharge.
  3. Seasonal/Geopolitical Fees: Peak season surcharge, war risk surcharge.
  4. Canal Transit Fees: Suez Canal and Panama Canal surcharges/fees.
  5. Port Congestion: Port congestion surcharge.

Surcharges Excluded from Total Freight Reported

  1. Terminal operation fee
  2. Security charges
  3. Origin received charges
  4. Inland point intermodal charges
  5. Booking fees
  6. Customs clearance fees

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Source: Baltic Exchange