25.06.05NCFI Jumps 20% in April

The composite Ningbo Containerized Freight Index (NCFI) averaged 1,135.9 points in April, the Ningbo Shipping Exchange (NBSE) announced yesterday. It was up 20.4% from the previous month but down 43.8% from a year earlier. As for the major ports along the so-called Maritime Silk Road, 14 saw their indices increase from April, but three witnessed theirs decrease.

On the trades to Europe and the Mediterranean, container movements were stable in the first half of April. In the second half, however, shipping capacity decreased, being gradually shifted to the North America route. In addition, shipping companies announced freight rate hikes for early June, raising spot rates as well. The NCFIs, as such, stood at 824.6 points on average to Europe, down 5.4% from April and 61.7% from May 2024; 1,096.2 points to the Eastern Mediterranean, up 12.4% from April but down 45.7% from May 2024; and 1,439 points to the Western Mediterranean, up 11.6% from April but down 42.9% from May 2024.

As spot rates jumped on the North America route, the NCFIs stood at 1,561.9 points to the east coast, up 38.5% from a month earlier but down 28.7% from a year earlier, and 2,048.6 points to the west coast, up 58.7% from a month earlier but down 32.1% from a year earlier.

The NCFI is an indicator for spot rates for container exports from Ningbo, which was set at a baseline of 1,000 points in Week 10 of 2012.