The Ningbo Containerized Freight Index (NCFI), published by the Ningbo Shipping Exchange, is a vital barometer for tracking fluctuations in container freight rates from the Port of Ningbo to various global destinations.
Decline in freight rates across all major routes
Released weekly, the NCFI offers insights into market trends and shipping costs across several key routes. As of January 24, 2025, the NCFI reported the following freight rates:
| Route | 24-01-2025 | 17-01-2024 | Weekly change (%) |
| Ningbo – Europe | 1446.87 | 1480.60 | -2.28 |
| Ningbo – West Mediterranean | 2009.94 | 2011.52 | -0.08 |
| Ningbo – East Mediterranean | 1556.26 | 1572.89 | -1.06 |
| Ningbo – Middle East | 832.24 | 870.97 | -4.45 |
These figures indicate a significant decline in freight rates across all major routes, with the Europe route experiencing the steepest drop of 10.90%. The downturn reflects ongoing challenges in the global shipping industry, including fluctuating demand and potential overcapacity.
The NCFI is compiled using transactional data from several prominent logistics companies, ensuring a comprehensive and accurate representation of the current market conditions. Surcharges such as bunker adjustment factors, emergency bunker surcharges, and peak season surcharges are included in the total ocean freight reported, providing a holistic view of shipping costs.
For stakeholders in the shipping and logistics sectors, staying informed about these weekly updates is crucial for strategic planning and decision-making. The NCFI serves as a reliable resource for understanding market dynamics and anticipating future trends in containerized freight rates.
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Source: Baltic Exchange
