Ningbo Freight Index: Weekly Trends and Insights

By
Mfame Editor
-
27

  • West Mediterranean Rates declined by 3.40%.
  • East Mediterranean Rates Fall by 4.47%.
  • Middle East Freight Rates See Sharpest Drop at 8.62%.

The Ningbo Containerised Freight Index, which is published by the Ningbo Shipping Exchange, offers a weekly composite of freight rates for 20ft, 40ft, and Hi-Cube containers on key global shipping routes. This week’s update focuses on rate movements and route-specific trends, including surcharges affecting freight costs, reports Baltic Exchange.

Weekly Freight Rate Summary

Ningbo – Europe

  1. Weekly rate: 2,222.27 USD
  2. Previous week: 1,699.15 USD
  3. Change: -2.26%
  4. Ports served: Hamburg & Rotterdam

Ningbo – West Mediterranean

  1. Weekly rate: 2,452.37 USD
  2. Previous week: 1,884.32 USD
  3. Change: -3.40%
  4. Ports served: Barcelona, Valencia & Genoa

Ningbo – East Mediterranean

  1. Weekly rate: 1,989.44 USD
  2. Previous week: 1,542.51 USD
  3. Change: -4.47%
  4. Ports served: Piraeus & Istanbul

Ningbo – Middle East

  1. Weekly rate: 1,103.92 USD
  2. Previous week: 1,014.11 USD
  3. Change: -8.62%
  4. Ports served: Dammam & Dubai

Index Composition

NCFI is derived through transactional data from premier logistics providers and freight forwarders, which include among others: CCL Logistics Co. Headwin Logistics Co., Ltd. Perfectever Logistics (Ningbo) Co., Ltd. Ningbo Jet Express International Freight Forwarding Co., Ltd. Sinotrans Ningbo Logistics Co., Ltd., among others. It is built on composite freight rates inclusive of surcharges.

Included Surcharges

  1. Fuel Adjustments: bunker adjustment factor, low sulfur surcharge, and emergency bunker surcharges.
  2. Currency and Seasonal Adjustments: currency adjustment factors, and peak season surcharges.
  3. Route-Specific Charges: Suez Canal tolls, and Panama Canal surcharges.
  4. Risk and Congestion Charges: War risk, and port congestion surcharges.

Excluded Surcharges

The listed rates do not include costs such as Terminal Operating charges, Security charges, Origin receiving fees, Inland point intermodal costs, Booking fees, and customs clearing charges.

Index Reporting

Ningbo Shipping Exchange aggregates and publishes the NCFI each Friday at 16:00 (Beijing Time), excluding Chinese holidays. Together with the Baltic Exchange, they work toward creating a transparent global freight market.

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Source: Baltic Exchange