From January to July of 2023, the cargo volume of Chinese ports was 9617.1 million tons, a year-on-year increase of 8.0%; the container throughput of Chinese ports was 176.2 million TEU, a year-on-year increase of 4.5%. The chart below shows the cargo throughput and container throughput data of the twelve 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) in August was quotes 735.4 points, have an increase of 8.2% compare to last month. In August, the cargo volume transported in the North American market continued to increase this month, and Carriers continued to implement strict capacity control measures. In the first half of this month, market freight rates were successfully pushed up. In the second half of the year, as part of the shipping capacity returned to the market, the market freight rate dropped slightly, but as of the end of the month, the freight rates of the Ningbo Port to US East and US West routes still rose slightly compared with the end of July. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in August was $2013（21.8%）and $3099（16.4%）month-on-month respectively.

Source: Ningbo Shipping Exchange