The Ningbo Containerised Freight Index (NCFI), a key indicator for container shipping rates, has revealed some fluctuations in global shipping prices for the week ending February 28, 2025. Compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, the index covers rates for 20ft, 40ft, and Hi Cube containers, offering insights into market trends and pricing movements across various shipping routes.
Key Highlights
- Ningbo to Europe: The shipping rate from Ningbo to Europe saw an increase, rising by 7.25% from the previous week, bringing the index to 1036.38 on February 28, 2025. This indicates stronger demand or capacity constraints for the route, especially in major ports like Hamburg and Rotterdam.
- Ningbo to West Mediterranean: Conversely, rates for shipments from Ningbo to the West Mediterranean fell by 4.69%, dropping to 1548.79. This decline reflects weaker demand or improved capacity in ports such as Barcelona, Valencia, and Genoa.
- Ningbo to East Mediterranean: The East Mediterranean route, serving ports like Piraeus and Istanbul, showed a strong growth of 8.91%, bringing the index to 1390.42. This increase suggests growing demand for containerized shipments in this region.
- Ningbo to Middle East: The Middle East route, covering ports like Dammam and Dubai, saw a significant 9.79% drop, with the index falling to 634.14. This could be attributed to reduced demand or logistical challenges in this particular market.
Freight Index Breakdown
The NCFI is based on data submitted by prominent freight forwarders, including CCL Logistics Co, Ningbo E-Union Group of China, and Sinotrans Ningbo Logistics Co., Ltd. The index factors in various surcharges, such as bunker adjustment, peak season, and war risk surcharges, but excludes terminal operation fees and customs charges.
The latest data from the Ningbo Containerised Freight Index highlights a mixed outlook for global container shipping. While some routes, like those to Europe and the East Mediterranean, have seen upward price movements, others, like the Middle East and West Mediterranean, experienced price declines. This reflects the dynamic nature of the shipping market, where fluctuations in demand, port congestion, and regional conditions play a pivotal role in shaping freight costs.
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Source: Baltic Exchange
