Ningbo Containerized Freight Index decrease in March

In February of 2021, the container throughput of Chinese ports have a increase of 13% compared with the same month last year, and the Ningbo Containerized Freight index (NCFI) decrease 11.4 in March

In February of 2021, the cargo volume of China ports was 1003.5 million tons, a year-on-year increase of 24.4%; the container throughput of China ports was 18.6million TEU, a year-on-year increase of 35.5%. The chart below shows the cargo throughput and container throughput data of the eight major ports in China.

Source:Ministry of Transport of the People’s Republic of China
Source:Ministry of Transport of the People’s Republic of China

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) in March was quotes 2060.7 points, have an decrease of 11.4% compare to last month. From Ningbo to the North America route, the cargo volume in the market was recovering steadily, and the supply and demand were basically good. Among them, the east coast of North American route had a small capacity base and tighter shipping space, resulting in an increase in freight rates. . The average freight rate of 40GP from Ningbo Port to Los Angels port in March was $3856, have a decrease of 0.1% compare to last month,from Ningbo Port to New York port was $5008, increase of 3.5% month-on-month.

Source: Ningbo Shipping Exchange
Source: Ningbo Shipping Exchange