News
The composite Ningbo Containerized Freight Index (NCFI) stood at 2,490.6 points in Week 27. As spot rates for container exports from Ningbo decreased on some trades, growth in the index was smaller than in the previous week at 2.1%.
In Europe and the Mediterranean, heatwave impacts on terminal operations subsided, but more time is still needed to clear unprocessed containers. The NCFIs were down 0.2% to 2,473.9 points to Europe, down 0.9% to 2,348.2 points to the Eastern Mediterranean, and down 0.5% to 2,955.9 points to the Western Mediterranean.
On the trade to North America, blank sailings in some services by major shipping lines and high peak season surcharges (PSSs) notably lifted spot rates. The NCFIs were up 16.2% to 2,966.8 points to the east coast and up 16.3% to 4,147.2 points to the west coast.
On the route to the Middle East, the situation has improved as the U.S. and Iran have signed a memorandum of understanding to end conflicts. However, leading carriers are still taking a cautious stance toward full service resumption. The NCFI was down 11.1% to 3,431.3 points.
On the trade to the west coast of South America, spot rates that began falling after reaching a peak still hovered at high levels. The NCFI was down 9.4% to 2,192.6 points.
The NCFI, an indicator for spot rates for container exports from Ningbo, is issued by the Ningbo Shipping Exchange (NBSE) with support from the Baltic and International Maritime Council (BIMCO) and was set at a baseline of 1,000 points in Week 10 of 2012.
