The latest Ningbo Export Containerized Freight Index (NCFI) of Ningbo Shipping Exchange closed at 1193.5 points, down 9.6% from last week. And the freight rates of 21 routes all fell.Besides, from the perspective of the overall level in October, the average value of the index is only at 1391 points, a month-on-month decrease of 20.8%, and a year-on-year decrease of 65.7%.
Compared to last year, the sea freight has risen the most fiercely, some of the container offer has been even up to 30,000 US dollars, many foreign buyers even had to give up their orders because they didn’t get the shipping space or the freight price was too higher than the commodity prices.
The report by Chief Information Officer Xu Kai from Shanghai International Shipping Institute (SISI). he mentioned that according to the data from ports and shipping. It is show that there is about 30% of global container ships were at berth in the third season of last year. And the proportion dropped to about 26% in the same period of this year. Which means that the global shipping turnover capacity has increased. On the other hand, the demand for shipping capacity in global commodity trade has declined. That’s why the lower freight rates are inevitable.