- The Ningbo Containerised Freight Index (NCFI) reported declines across all major trade routes for the week ending December 13, 2024, with the sharpest drop seen on the Middle East route (-5.45%).
- The index covers rates for container shipments from Ningbo to Europe, the Mediterranean, and the Middle East, compiled based on data from prominent logistics firms.
- Total freight rates include various surcharges like fuel adjustment and canal fees, while charges like terminal operation and inland transport are excluded.
The Ningbo Containerised Freight Index (NCFI) offers a comprehensive weekly assessment of freight rates across key international trade routes from Ningbo, China. Published by the Ningbo Shipping Exchange and supported by the Baltic Exchange, the index highlights trends in shipping costs influenced by global market conditions and logistics factors.
Weekly Freight Rate Trends
For the week ending December 13, 2024, the NCFI recorded declines across all reported routes.
The Europe route saw a slight drop of -1.96%, while the West Mediterranean and East Mediterranean routes decreased by -0.70% and -2.72%, respectively.
The Middle East route experienced the steepest decline at -5.45%.
Ports Served by Key Routes
The index includes data on prominent port connections:
- Ningbo-Europe: Hamburg and Rotterdam.
- Ningbo-West Mediterranean: Barcelona, Valencia, and Genoa.
- Ningbo-East Mediterranean: Piraeus and Istanbul.
- Ningbo-Middle East: Dammam and Dubai.
Data and Contributors
The NCFI is built on transactional data provided by logistics companies like Headwin Logistics, Sinotrans Ningbo Logistics, and Dashing International Logistics.
This data ensures a reliable benchmark for freight pricing trends.
Included and Excluded Surcharges
The total freight rates incorporate charges like bunker adjustment, emergency fuel surcharges, currency adjustment factors, and canal fees.
However, it excludes costs such as terminal operation fees, inland intermodal transport, and customs clearance.
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Source: Baltic Exchange
