- The Ningbo Containerised Freight Index (NCFI) experienced a downturn last week.
- The freight rates have decreased across major routes from Ningbo to Europe, the Mediterranean, and the Middle East.
- This indicates a softening in container shipping rates from the Chinese port.
The Ningbo Containerised Freight Index (NCFI) experienced a decline across key routes in the week ending September 8, 2024.
Index Overview
The NCFI, compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, provides a weekly composite index reflecting freight rates for 20ft, 40ft, and Hi-Cube containers from Ningbo to various destinations.
Freight Rate Trends
The composite index fell by 5.96% to 3410.71, indicating a decrease in overall freight rates. Specific route indices also declined:
| Route | 16-08-2024 | 09-08-2024 | Weekly change (%) |
| Ningbo – Europe | 3207.59 | 3410.71 | -5.96 |
| Ningbo – West Mediterranean | 2817.46 | 2906.38 | -3.06 |
| Ningbo – East Mediterranean | 2163.50 | 2257.74 | -4.17 |
| Ningbo – Middle East | 1589.05 | 1633.07 | -2.70 |
Index Methodology
| Route | Port Served |
| Ningbo – Europe | Hamburg & Rotterdam |
| Ningbo – West Mediterranean | Barcelona, Valencia & Genoa |
| Ningbo – East Mediterranean | Piraeus & Istanbul |
| Ningbo – Middle East | Dammam & Dubai |
The Ningbo Containerised Freight Indexis based on transactional data submitted by:
- 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
- Sinotrans Ningbo Logistics Co., Ltd
Surcharges included in the total ocean freight reported:
- Bunker adjustment factor/ fuel adjustment factor/ low sulphur surcharge
- Emergency bunker surcharge/ emergency bunker additional
- Currency adjustment factor/ Yen applica surcharge
- Peak season surcharge
- War risk surcharge
- Port congestion surcharge
- Suez Canal transit fee/surcharge/ Suez Canal fee/ Panama Canal surcharge/ Panama Canal charge
Surcharges not included in the total ocean freight reported:
- Terminal operation fee
- Security charge
- Origin received charges
- Inland point intermodal
- Booking fee
- Customs clearance
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Source: Baltic Exchange
