News
The composite Ningbo Containerized Freight Index (NCFI) stood at 1,722.8 points in Week 50, according to the Ningbo Shipping Exchange (NBSE). Freight rates for container exports from Ningbo notably increased on the North America trade, helping the index improve 4.8% from the previous week. On the selected 21 trade lanes from Ningbo to which the individual NCFIs are applied, seven saw their freight rate indices rise, and the remaining 14 witnessed theirs fall. As for the major ports along the so-called Maritime Silk Road, four saw their indices increase and 12, decrease.
On the routes to Europe and the Mediterranean, there was still a gap between supply and demand. However, ex-Ningbo spot rates remained stable, although mildly declining from time to time. The individual NCFIs, as such, decreased 2% to 2,082.6 points to Europe, 2.7% to 1,933.6 points to the Eastern Mediterranean and 0.7% to 2,476.5 points to the Western Mediterranean.
On the trade lanes to North America, shipping line reduced capacity, while some west coast services arranged port-of-call itineraries and alter schedules, causing spot rates for container exports from Ningbo to rise more sharply than on that to the east coast. The NCFIs picked up 10% to 1,808.1 points to the east coast and 43.5% to 2,092.1 points to the west coast.