The Ningbo Containerised Freight Index (NCFI), compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, reported notable declines across most major routes in the week ending 4 July 2025. The composite index, which tracks rates for 20ft, 40ft, and Hi Cube containers from Ningbo to global ports, reflects weakening freight demand and ongoing rate pressure across Mediterranean and Middle Eastern lanes.
Weakening freight demand
The steepest decline came on the Ningbo–Middle East route, where rates plummeted by 17.48% week-on-week. Freight to Dammam and Dubai dropped to 1,145.62, down from 1,388.28 the previous week, as overcapacity and weaker regional demand weighed heavily on pricing.
Rates also declined across Mediterranean services. The Ningbo–West Mediterranean route, which serves Barcelona, Valencia, and Genoa, fell by 7.33% to 1,581.03, while the Ningbo–East Mediterranean route (serving Piraeus and Istanbul) dropped 6.59% to 1,221.38. These back-to-back declines mark the second straight week of softening in Mediterranean trade lanes.
In contrast, the Ningbo–Europe route, covering ports in Hamburg and Rotterdam, remained stable, slipping only marginally by 0.03% to 1,442.46. This narrow change suggests relative stability in North Europe-bound freight, even as Mediterranean and Middle East services falter.
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Source: Baltic Exchange
