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Ningbo Containerized Freight index soars in November

Wednesday, 23 December 2020 | 01:00

From January to November, the Container throughput of Chinese ports remains same Compared with the same month last year, and the Ningbo Containerized Freight index (NCFI) keep significant rises in December

From January to November 2020, the cargo volume of Chinese ports was 13248.9 million tons, a year-on-year increase of 4.7%; the container throughput of Chinese ports was 241.7 million TEU, a year-on-year increase of 0.8%. The chart below shows the cargo throughput and container throughput data of the eight major ports in China.

Source:Ministry of Transport of the People's Republic of China

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI)1 in December was quotes 2007.5 points, have an increase of 31.2% compare to last month. From Ningbo to the North America route, Affected by the congestion of the destination port, the delay of the shipping schedule was serious, some service were forced to merge by carriers, and the overall capacity was reduced. At the end of the year, the tightness of space intensified and the market freight rate was high. The average freight rate of 40GP from Ningbo Port to Los Angels port and New York port in December was $4078 and $5045, have a increase of 3.5% and 6.8% month-on-month respectively.

Source: Ningbo Shipping Exchange

Source: Ningbo Shipping Exchange

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