News
The composite Ningbo Containerized Freight Index (NCFI) stood at 753.5 points in Week 44, up 3.5% from the previous week, according to the Ningbo Shipping Exchange (NBSE). The index continued to rise for five weeks in a row, but last week's growth was smaller than Week 43. Among the 21 trade lanes from Ningbo-Zhoushan to which the individual NCFIs are applied, there were increases on 10 and decreased on the remaining 11. Among those from Ningbo-Zhoushan to major ports along the so-called Maritime Silk Road, there were increases on eight and decreases on eight.
The NCFIs increased 4.7% to 516.6 points to Europe but decreased 0.9% to 642 points to the eastern Mediterranean and 8.4% to 698.6 points to the western Mediterranean. On the route to Europe, shipping lines controlled available space, lifting spot rates, while on that to the Mediterranean, transport demand was weak, causing spot rates to fall.
On the trade to North America, the NCFIs picked up 8.3% to 849.7 points to the east coast and 10.7% to 1,222.6 points to the west coast. There was a shortage of space on the entire trade, which led to continuous declines in spot rates.
The NCFI grew 8.7% to 987.2 points to the Middle East as a capacity shortage made shipping lines raise freight rates, which inflated spot rates as well.
THE NCFI surged 15.3% to 1,611.9 point to the east coast of South America. On the route, transport demand continued to swell, making spot rates increase more than 10% for four weeks running.
