Ningbo Container Freight Index (NCFI) up 14.3% in April 2023

From January to March of 2023, the cargo volume of Chinese ports was 3854.2 million tons, a year-on-year increase of 6.2%; the container throughput of Chinese ports was 69.7 million TEU, a year-on-year increase of 3.5%. The chart below shows the cargo throughput and container throughput data of the twelve major ports in China.

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) in April was quotes 725.7 points, have an increase of 14.3% compare to last month. From Ningbo to North America route, the fundamentals of supply and demand remained stable, and freight rates fell slightly to the US West coastal and US East coastal routes.

As for the freight index to East Coast South America, NCFI was pegged at 1134.94, down 66.59% year-on-year.

The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York port in April was $1462 and $2316,（31.7%）and (+13.7%）month-on-month, respectively.

Source: Hellenic Shipping News

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