Weekly Trends in Ningbo Shipping Rates

By
Mfame Editor
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554

  • The Ningbo Containerised Freight Index (NCFI) tracks weekly freight rates across key routes.
  • Freight rates increased for most routes, except the Middle East, which saw a decrease.
  • The NCFI includes specific surcharges in its data, while others are excluded.

The Ningbo Containerised Freight Index (NCFI) is a weekly composite index covering rates for 20ft, 40ft, and Hi-Cube containers, compiled by the Ningbo Shipping Exchange and supported by the Baltic Exchange. The index is updated every Friday, except during Chinese holidays, and is reported at 1600 (Beijing time) by Baltic Exchange.

Weekly Rate Analysis

Rates are reported on four primary routes from Ningbo, with significant weekly changes:

  1. Ningbo – Europe: Rates increased to “1808.02” from “1715.84,” a 5.37% rise.
  2. Ningbo – West Mediterranean: Rates rose to “2062.96” from “1915.56,” marking a 7.69% increase.
  3. Ningbo – East Mediterranean: Rates surged to “1668.56” from “1516.00,” an increase of 10.06%.
  4. Ningbo – Middle East: Rates fell to “1127.24” from “1233.55,” reflecting an 8.62% decrease.

Served Ports by Route

Each route is linked to major ports:

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

Data Contributors

The NCFI index relies on transactional data from multiple 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. Ningbo Jet Express International Freight Forwarding Co., Ltd
  7. Dashing International Logistics
  8. Huanji International
  9. De Well Group
  10. Whale Logistics Co., Ltd
  11. Sinotrans Ningbo Logistics Co., Ltd

Included Surcharges

The NCFI data includes a range of surcharges, which affect total ocean freight costs:

  1. Bunker adjustment factor, fuel adjustment factor, and low sulphur surcharge
  2. Emergency bunker surcharge and emergency bunker additional
  3. Currency adjustment factor and Yen applica surcharge
  4. Peak season surcharge
  5. War risk surcharge
  6. Port congestion surcharge
  7. Suez Canal transit fee/surcharge and Panama Canal surcharge

Excluded Surcharges

Certain fees are not covered in the NCFI total freight rate:

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

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Source: Baltic Exchange