The Ningbo Containerised Freight Index (NCFI), compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, offers a comprehensive look at freight rates across various international shipping routes. This weekly index, based on transactional data from key logistics companies, tracks the fluctuations in 20ft, 40ft, and Hi-Cube box rates, providing valuable insight for the global shipping industry. The index is reported every Friday at 16:00 (Beijing time), excluding Chinese holidays.
Weekly Changes in Freight Rates
- Ningbo to Europe: The rate increased slightly by 0.62%, reaching 871.91 compared to 866.58 the previous week. This reflects a modest upward trend in containerized freight from Ningbo to major European ports, including Hamburg and Rotterdam.
- Ningbo to West Mediterranean: A decline of -4.16% was recorded, with the rate falling from 1,347.19 to 1,291.15. Ports affected include Barcelona, Valencia, and Genoa.
- Ningbo to East Mediterranean: The rate dropped by -5.77%, from 1,050.97 to 990.38, reflecting weaker demand for shipping to Piraeus and Istanbul.
- Ningbo to Middle East: A significant increase of 12.38% was noted, with rates climbing from 710.26 to 798.18, indicating stronger demand for shipping to key Middle Eastern ports like Dammam and Dubai.
Surcharges and Adjustments
The freight rates reported include various surcharges such as:
- Bunker Adjustment Factor (BAF)
- Fuel Adjustment Factor (FAF)
- Low Sulphur Surcharge
- Emergency Bunker Surcharge
- Currency Adjustment Factor (CAF)
- Peak Season Surcharge
- War Risk Surcharge
- Port Congestion Surcharge
- Suez Canal and Panama Canal fees
Notably, charges like terminal operation fees, security charges, and customs clearance fees are not included in the total ocean freight reported.
Participating Companies
The index is based on data submitted by leading logistics companies including CCL Logistics Co, Headwin Logistics Co. Ltd, and Sinotrans Ningbo Logistics Co. Ltd, among others. These organizations play a vital role in ensuring the accuracy and reliability of the index, which provides a crucial benchmark for freight rates.
The Ningbo Containerised Freight Index continues to serve as a key tool for stakeholders in the global shipping and logistics industries, offering critical insights into market trends and helping companies make informed decisions on international shipping operations.
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Source: Baltic Exchange
