China ports container volume rises 4.8% from January to August 2023，Ningbo Containerized Freight Index decrease in September 2023

From January to August of 2023, the cargo volume of Chinese ports was 11102.0 million tons, a year-on-year increase of 8.4%; the container throughput of Chinese ports was 203.7 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.

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) in September was quotes 661.7points, have an increase of 10.6% compare to last month. In September, the transportation demand from Ningbo to the North American market is weak, but the vessel capacity of Box liners is sufficient, and the decline in freight rates has further expanded. With the arrival of China’s National Day holiday, the volume of export cargo has further decreased. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in August was $2626（-2.6%）and $1960（-15.2%）month-on-month respectively.
Source: Ningbo Shipping Exchange