News
The composite Ningbo Containerized Freight Index (NCFI) averaged 1,612.6 points in January 2024, up 76.3% from December 2023 and 123.6% from January 2023, according to the Ningbo Shipping Exchange (NBSE). The individual NCFIs increased on all of the 21 trade lanes, to which they are applied, and all of the 16 routes to major ports on the so-called Maritime Silk Road.
To Europe and the Mediterranean Sea, the NCFI stood at 2,029 points on average last month, up 127% from the previous month and 206.6% from the corresponding month of 2023. To the Eastern Mediterranean, the NCFI closed at an average of 2,023 points, up 93.3% from a month earlier and 94% from a year earlier. To the Western Mediterranean, the NCFI came to 2,483 points, up 105.9% from December 2023 and 103% from January 2023.
On the North America route, the NCFIs averaged 2,019.8 points to the east coast in January 2024, up 94.3% month on month and 122.6% year on year, and 2,373 points to the west coast, 111.6% month on month and 205.1% year on year. The index surged 58.6% from the previous week in Week 1 and 64.8% in Week 2. In the following two weeks, spot rates for container exports from Ningbo-Zhoushan fluctuated mildly and remained at levels they had reached in previous rate hikes.
The NCFI amounted to 1,507.3 points to the Middle East last month, up 23.2% from a month earlier and 117.6% from a year earlier.
To northern Africa, the NCFI fluctuated between 2,180.6 points and 1,813.3 points in January 2024, averaging 1,972.5 points, up 89.8% from the previous month and 61.8% from the same month of 2023.
