Ningbo Containerized Freight index rises by 19.8% in November 2020
In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) 1 in November was quotes 1466.7 points, have an increase of 19.8% compare to last month, the company said in its release.
From Ningbo to the North America route, Due to the surge in cargo volume, port operations continue to be under pressure and congestion on US ports. The schedule reliability of vessel is unstable and space is tight. Therefore, the freight rates of the route continue to rise. The average freight rate of 40GP from Ningbo Port to Los Angeles port and Charleston port in October was $3966 and $4764, have a slight increase of 1.2% and 2.3% month-on-month respectively.
Source: Ningbo Shipping Exchange
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.