Ningbo Containerized Freight Index decrease 8.2% in August 2023
In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) 1 in August was quotes 735.4 points, have an increase of 8.2% compare to last month, according to the Port of Ningbo's release. In August, the cargo volume transported in the North American market continued to increase this month, and carriers continued to implement strict capacity control measures.
In the first half of this month, market freight rates were successfully pushed up. In the second half of the year, as part of the shipping capacity returned to the market, the market freight rate dropped slightly, but as of the end of the month, the freight rates of the Ningbo Port to US East and US West routes still rose slightly compared with the end of July.
The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in August was $2013（21.8%）and $3099（16.4%）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.
