Ningbo Containerized Freight Index decease significantly in November 2022
In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) 1 in November was quotes 1055.1 points, have a significant decrease of 24.2% compare to last month, according to the Port of Ningbo's release.
From Ningbo to North America route, the transportation demand in the market is still in short supply, and the freight rate continues to fall. Due to the high freight rate of the US coast East route, the recent decline is significantly higher than that of the US West coast route. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York&New Jersey port in November was $1502（- 17.4%）and $4307（-26.1%）month-on-month respectively.
Ningbo Containerized Freight Index (NCFI) is used to objectively reflect the fluctuation of freight rates of international container shipping market by calculating and recording the container freight rates change information of 21 routes departing from Ningbo-Zhoushan port, including composite Index and 21 Indexes of branch routes.
