Ningbo Containerised Freight Index Weekly Update

53

The Ningbo Containerised Freight Index (NCFI), compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, reports box rates for 20ft, 40ft, and Hi-Cube containers across major global trade routes. The index is updated every Friday at 16:00 Beijing time, except during Chinese holidays.

Weekly Rate Changes (September 20, 2024)

The NCFI saw a notable decline across all major routes for the week ending September 20, 2024, compared to the previous week (September 13, 2024):

  • Ningbo – Europe: Decreased by 11.57% to 1,629.23 from 1,842.34.
  • Ningbo – West Mediterranean: Fell by 10.28% to 1,708.61 from 1,904.46.
  • Ningbo – East Mediterranean: Dropped by 11.14% to 1,306.79 from 1,470.59.
  • Ningbo – Middle East: Experienced the sharpest decline, down 26.79% to 670.15 from 915.39.

Ports Served by Each Route

  • Ningbo – Europe: Ports of Hamburg and Rotterdam
  • Ningbo – West Mediterranean: Ports of Barcelona, Valencia, and Genoa
  • Ningbo – East Mediterranean: Ports of Piraeus and Istanbul
  • Ningbo – Middle East: Ports of Dammam and Dubai

Data Contributors

The NCFI is based on real transactional data submitted by various logistics companies, including:

  • 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 Reported Freight Rates

The total ocean freight reported in the NCFI includes the following surcharges:

  • Bunker Adjustment Factor (BAF), Fuel Adjustment Factor (FAF), Low Sulphur Surcharge
  • Emergency Bunker Surcharge/Additional
  • Currency Adjustment Factor (CAF), Yen Applicability Surcharge
  • Peak Season Surcharge
  • War Risk Surcharge
  • Port Congestion Surcharge
  • Suez Canal Transit Fee/Surcharge, Suez Canal Fee, Panama Canal Surcharge/Charge

Surcharges Not Included

Certain charges are not included in the total ocean freight reported, such as:

  • Terminal Operation Fees
  • Security Charges
  • Origin Received Charges
  • Inland Point Intermodal
  • Booking Fees
  • Customs Clearance

This comprehensive index provides key insights into shipping trends and freight rate fluctuations, helping stakeholders better understand the dynamics of global container shipping.

 

Did you subscribe to our daily Newsletter?

It’s Free Click here to Subscribe!

Source: Baltic Exchange