Ningbo Shipping Index Shows Volatile Freight Rates on Key Routes

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  • The Ningbo Containerised Freight Index (NCFI) is a benchmark used to track fluctuations in freight rates for international container shipping departing from Ningbo-Zhoushan port in China.
  • Compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, the NCFI provides valuable insights into shipping costs on major routes.

What it Measures

The NCFI is a composite index, meaning it considers rates for various container sizes (20ft, 40ft, and Hi Cube) on four key routes:

Route21-06-202414-06-2024Weekly change (%)
Ningbo – Europe3129.423043.722.82
Ningbo – West Mediterranean3090.183184.37-2.96
Ningbo – East Mediterranean2369.712426.54-2.34
Ningbo – Middle East2107.902259.52-6.71

 

The index is reported every Friday (except Chinese holidays) at 1600 (Beijing).

RoutePort Served
Ningbo – EuropeHamburg & Rotterdam
Ningbo – West MediterraneanBarcelona, Valencia & Genoa
Ningbo – East MediterraneanPiraeus & Istanbul
Ningbo – Middle EastDammam & Dubai

Data Source and Inclusions

The NCFI relies on transactional data submitted by logistics companies in Ningbo.

  • 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 the total ocean freight reported:

  • Bunker adjustment factor/ fuel adjustment factor/ low sulphur surcharge
  • Emergency bunker surcharge/ emergency bunker additional
  • Currency adjustment factor/ Yen applica surcharge
  • Peak season surcharge
  • War risk surcharge
  • Port congestion surcharge
  • Suez Canal transit fee/surcharge/ Suez Canal fee/ Panama Canal surcharge/ Panama Canal charge

Surcharges not included in the total ocean freight reported:

  • Terminal operation fee
  • Security charge
  • Origin received charges
  • Inland point intermodal
  • Booking fee
  • Customs clearance

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Source: Baltic Exchange