Ningbo Containerised Freight Index Weekly Overview

By
Mfame Editor
-
6

  • Ningbo Containerised Freight Index shows a drop across various routes from the week of 20 to 27 September 2024.
  • Freight rates on the Ningbo-Europe and Mediterranean routes saw significant declines.
  • Multiple surcharges are included in the total ocean freight, though some operational charges are excluded.

The Ningbo Containerised Freight Index (NCFI) provides a weekly composite index covering 20ft, 40ft, and Hi-Cube box rates. Compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, the index offers insights into the global freight market.

Weekly Rate Changes

For the week ending 27 September 2024, the NCFI recorded declines in freight rates across several routes:

  1. Ningbo – Europe: 1476.10 (down 9.40% from 1629.23).
  2. Ningbo – West Mediterranean: 1565.68 (down 8.37% from 1708.61).
  3. Ningbo – East Mediterranean: 1240.54 (down 5.07% from 1306.79).
  4. Ningbo – Middle East: 640.68 (down 4.40% from 670.15).

Ports Served by Routes

The routes for the NCFI connect Ningbo to various major global ports:

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

Data Contributors

The index is based on transactional data from leading logistics companies, including:

  1. CCL Logistics Co.
  2. Headwin Logistics Co., Ltd
  3. Ningbo E-Union Group of China
  4. Zhejiang Xinggang International Freight Co., Ltd
  5. Perfectever Logistics (Ningbo) Co., Ltd
  6. Sinotrans Ningbo Logistics Co., Ltd, among others.

Included Surcharges

The total ocean freight reported includes a variety of surcharges, such as:

  1. Bunker adjustment factor (BAF)/ fuel adjustment factor (FAF)/ low sulphur surcharge.
  2. Emergency bunker surcharge and emergency bunker additional.
  3. Currency adjustment factor/ Yen applicable surcharge.
  4. Peak season surcharge and war risk surcharge.
  5. Suez Canal transit fee/ surcharge/ Panama Canal surcharge.

Excluded Surcharges

Certain operational fees are not included in the total ocean freight:

  1. Terminal operation fee.
  2. Security charge.
  3. Origin received charges.
  4. Inland point intermodal.
  5. Booking fee and customs clearance.

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Source: Baltic Exchange