Weekly Composite Index Report: Ningbo Shipping Exchange

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The Ningbo Shipping Exchange provides a weekly composite index covering rates for 20ft, 40ft, and Hi-Cube containers. As of July 5, 2024, the index reports the following rates and their weekly changes:

  • Ningbo to Europe (Hamburg & Rotterdam): The rate increased by 0.68% from 3537.13 to 3561.24.
  • Ningbo to West Mediterranean (Barcelona, Valencia & Genoa): The rate decreased by 0.99% from 3455.53 to 3421.40.
  • Ningbo to East Mediterranean (Piraeus & Istanbul): The rate decreased by 0.68% from 2623.71 to 2605.96.
  • Ningbo to Middle East (Dammam & Dubai): The rate saw a significant drop of 4.38%, from 1884.01 to 1801.49.

The Ningbo Containerised Freight Index (NCFI) is compiled by the Ningbo Shipping Exchange and promoted by the Baltic Exchange. It is reported every Friday at 1600 (Beijing time), except during Chinese holidays.

Participating Companies

The NCFI is based on transactional data 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 total ocean freight reported in the index includes the following surcharges:

  • 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, some 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

This comprehensive report offers a detailed look at the fluctuations in freight rates, providing valuable insights for stakeholders in the shipping and logistics industry.

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Source: Baltic Exchange