26.08.14NCFI Increases for 2 B2B Weeks

The composite Ningbo Containerized Freight Index (NCFI) increased 3.2% to 2,423.1 points in Week 32, marking two back-to-back weeks of growth, despite various freight rate fluctuations on trade lanes.

On the selected 21 trade lanes from Ningbo to which the individual NCFIs are applied, 12 saw their freight rate indices rise, eight saw theirs fall, and one saw its unchanged. As for the major ports along the so-called Maritime Silk Road, 12 witnessed their indices increase and four witnessed theirs decrease.

The individual NCFIs stood at 2,051.1 points to Europe, down 2%; 1,720.5 points to the Eastern Mediterranean, down 8.1%; and 2,269.6 points to the Western Mediterranean, down 6%.

On the North America trade, the NCFIs quoted 3,298.3 points to the east coast, up 5.6%, and 3,836.9 points to the west coast, up 8.1%.

To the Middle East, the NCFI came to 5,015.5 points, up 4.6%, and to the west coast of South America, the NCFI jumped 16.3% to 2,281.5 points due to significant freight rate rises.

The NCFI, an indicator for spot rates for container exports from Ningbo, is issued by the Ningbo Shipping Exchange (NBSE) with help from the Baltic and International Maritime Council (BIMCO) and was set at a baseline of 1,000 points in Week 10 of 20.

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