Ningbo Containerized Freight Index rises significantly in September
From January to August, the container throughput of Chinese ports decreased slightly compared with the same month last year and the Ningbo Containerized Freight index (NCFI) rises significantly in September, Ningbo Zhoushan Port Group specialist said.
From January to August 2020, the cargo volume of Chinese ports was 9293.0 million tons, a year-on-year increase of 2.2%; the container throughput of Chinese ports was 168.07 million TEU, a year-on-year decrease of 2.5%. The chart below shows the cargo throughput and container throughput data of the eight major ports in China.
In terms of container freight rates, by September 24, the average value of the Ningbo Container Freight index (NCFI)1 in August was 1162.86 points, an increase of 27.95% compared to last month. From Ningbo to the North America route, the trend of rising freight rates has gradually stopped, some carriers have not implemented the freight increase plan in the new round of announcements. The average freight rate of 40GP from Ningbo Port to Los Angeles port and Charleston port in August was $3976 and $4755, a month-on-month increase of 15.8% and 20.7% respectively.
Ningbo Containerized Freight Index (NCFI) is used to objectively reflect the fluctuation of freight rates of international container shipping market by calculating and recording the container freight rates change information of 21 routes departing from Ningbo-Zhoushan port, including composite Index and 21 Indexes of branch routes.