Ningbo Containerized Freight index rises significantly in November

From January to October, the Container throughput of Chinese ports remains same Compared with the same month last year, and the Ningbo Containerized Freight index (NCFI) rises significantly in November

From January to October 2020, the cargo volume of Chinese ports was11933.8 million tons, a year-on-year increase of 3.7%; the container throughput of Chinese ports was 217.2 million TEU, a year-on-year decrease of 0.03%. The chart below shows the cargo throughput and container throughput data of the eight major ports in China.

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) in November was quotes 1466.7 points, have an increase of 19.8% compare to last month. From Ningbo to the North America route, Due to the surge in cargo volume, port operations continue to be under pressure and congestion on US ports. The schedule reliability of vessel is unstable and space is tight. Therefore, the freight rates of the route continue to rise. The average freight rate of 40GP from Ningbo Port to Los Angeles port and Charleston port in October was $3966 and $4764, have a slight increase of 1.2% and 2.3% month-on-month respectively.