24.05.21NCFI Jumps in Week 20

The Ningbo Containerized Freight Index (NCFI) stood at 2,037.2 points in Week 20, which jumped 12.4% from the previous week as strong demand raised spot rates for container exports from Ningbo-Zhoushan, according to the Ningbo Shipping Exchange (NBSE). On the 21 trade lanes from Ningbo-Zhoushan to which the individual NCFIs are applied, there were increases on 18 and decreases on three. On those from Ningbo-Zhoushan to the major ports on the so-called Maritime Silk Road, there were increases on 13 and decreases on three.

More specifically, the NCFIs went up 6.4% to 2,120.2 points to Europe, 0.9% to 1,966.7 points to the Eastern Mediterranean and 0.2% to 2440.5 points to the Western Mediterranean. On the route to Europe, space remained tight, leading to spot rate hikes. On those to the Mediterranean, supply and demand were relatively well balanced, making spot rate fluctuations stable.

On the trade to North America, the NCFIs surged 14.2% to 2,238.4 points to the east coast and 18.2% to 3,107.7 points to the west coast. The trade maintained steady transport demand, making most vessels from Ningbo-Zhoushan fully loaded in late May and notably increasing spot rates.

On the route to the Middle East, the NCFI soared 13.9% to 2,031 points. Shipping lines slightly reduced capacity, contributing to improving supply and demand and lifting spot rates.

On the trade lane to East Africa, the NCFI skyrocketed 59.3% to 2,473.2 points, as operators significantly cut space supply, which caused spot rates to increase substantially.