According to Port News, from January to July 2024, Chinese ports handled a total container throughput of 190.9 million TEU, marking an 8.3% year-on-year increase. Notably, in July, Shanghai Port recorded a container throughput of 4.84 million TEU, a 15.1% rise from the previous year, while Ningbo Zhoushan Port reached 3.35 million TEU, up by 5.3%.
Container Freight Rate Fluctuations
The Ningbo Containerized Freight Index (NCFI) averaged 2384.5 points in August 2024, reflecting a 12.4% decrease from the previous month but showing a significant 224.2% increase year-on-year. Among the 21 routes monitored, three saw month-on-month increases in freight rates, while the remaining 18 experienced declines.
Regional Performance Insights
Shanghai Port’s substantial growth demonstrates its pivotal role in global trade, while Ningbo Zhoushan Port continues to maintain steady progress. Variations in freight rates highlight the dynamic nature of the container shipping industry amid fluctuating market conditions.
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Source: Port News
