China ports container volume rises 4.8% from January to April of 2023，Ningbo Containerized Freight Index decrease in May 2023

From January to April of 2023, the cargo volume of Chinese ports was 5278.4 million tons, a year-on-year increase of 7.6%; the container throughput of Chinese ports was 95.4 million TEU, a year-on-year increase of 4.8%. The chart below shows the cargo throughput and container throughput data of the twelve major ports in 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 May was quotes 702.9 points, have an decrease of 2.7% compare to last month. From Ningbo Zhoushan Port to the US West coastal and US East coastal routes, most Box liners pushed up the freight rate in June, and the freight rate rebounded significantly.

The increase in the US West route was even more significant because the freight rate was lower before.The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in May was $1584（+20.5%）and $ 2606（+12.4%）month-on-month respectively.
Source: Ningbo Shipping Exchange