In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) 1 in March was quotes 3718.5 points, have a decrease of 8.1% compare to last month. There was a slight ease of port congestion for the US west costal ports. The average space utilization rate of ships from Ningbo Zhoushan Port to the US West and US East routes is almost at full load, freight rate remains at a high point. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in February was $8475 and $10378, have an increase of 1.7% and 3.2% month- on-month 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.
Source: Ningbo Shipping Exchange