Weekly Composite Index of Container Freight Rates by Ningbo Shipping Exchange

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The Ningbo Containerised Freight Index (NCFI), compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange, provides a weekly composite of container freight rates. The index covers rates for 20ft, 40ft, and Hi-Cube containers.

Weekly Index Overview

The NCFI is updated every Friday at 1600 (Beijing) except during Chinese holidays. For the week ending on June 14, 2024, the index showed the following changes compared to the previous week (June 7, 2024):

  • Ningbo to Europe: 3043.72, up 7.79% from 2823.63
  • Ningbo to West Mediterranean: 3184.37, up 4.39% from 3050.60
  • Ningbo to East Mediterranean: 2426.54, up 1.34% from 2394.46
  • Ningbo to the Middle East: 2259.52, down 2.38% from 2314.69

Port Destinations for Each Route

The index includes rates for the following routes and corresponding ports:

  • Ningbo to Europe: Hamburg & Rotterdam
  • Ningbo to West Mediterranean: Barcelona, Valencia & Genoa
  • Ningbo to East Mediterranean: Piraeus & Istanbul
  • Ningbo to Middle East: Dammam & Dubai

Data Collection and Reporting

Transactional data for the NCFI is submitted by various logistics companies, including:

  • 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

Included and Excluded Surcharges

The reported total ocean freight includes several surcharges, such as:

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

However, certain surcharges are 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