Freight Routes and Ports Covered by NCFI

By
Mfame Editor
-
95

  • The Ningbo Containerised Freight Index (NCFI) tracks weekly freight rates for key shipping routes.
  • Freight rates declined across all routes for the week ending November 15, 2024.
  • The index includes several surcharges, while some costs are excluded from the reported rates.

The Ningbo Containerised Freight Index (NCFI) is a weekly composite index tracking freight rates for 20-ft, 40-ft, and Hi-Cube containers. It is compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange.

Weekly Freight Rate Changes for Key Routes

The latest report shows a decline in freight rates across all major routes:

  1. Ningbo-Europe: Dropped to 1,738.42, a -3.85% change from the previous week.
  2. Ningbo-West Mediterranean: Fell by -5.44% to 1,950.74.
  3. Ningbo-East Mediterranean: Decreased to 1,614.65, a -3.23% change.
  4. Ningbo-Middle East: Declined slightly by -1.55% to 1,109.77.

Freight Routes and Ports Served

Each route serves key ports:

  1. Ningbo-Europe: Hamburg & Rotterdam
  2. Ningbo-West Mediterranean: Barcelona, Valencia & Genoa
  3. Ningbo-East Mediterranean: Piraeus & Istanbul
  4. Ningbo-Middle East: Dammam & Dubai

Data Sources for the Index

The NCFI is based on transactional data submitted by multiple logistics companies, including:

  1. CCL Logistics Co.
  2. Headwin Logistics Co., Ltd.
  3. Sinotrans Ningbo Logistics Co., Ltd.
  4. Huanji International
    These companies provide accurate, up-to-date freight rate data.

Surcharges Included in Freight Rates

The index includes several surcharges such as:

  1. Bunker adjustment factor (BAF) and low sulphur surcharge.
  2. Currency adjustment factor and peak season surcharge.
  3. Fees for canal transit, like Suez Canal and Panama Canal surcharges.

Surcharges Excluded from Freight Rates

Certain costs are not included in the reported rates:

  1. Terminal operation fees and security charges.
  2. Customs clearance fees and booking fees.
  3. Inland point intermodal charges.

Reporting Frequency and Compilation Details

The index is reported every Friday at 1600 Beijing time.

It excludes Chinese holidays. The weekly changes offer stakeholders insights into market trends.

Trends and Market Implications

The consistent decline in rates suggests weakening market conditions or fluctuations in demand.

For accurate cost calculations, stakeholders must consider both included and excluded surcharges.

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Source: Baltic Exchange