China ports container volume rises 4.9% from January to October 2023，Ningbo Containerized Freight Index decrease in November 2023

From January to October of 2023, the cargo volume of Chinese ports was 14030.9 million tons, a year-on-year increase of 8.5%; the container throughput of Chinese ports was 257.0 million TEU, a year-on-year increase of 4.9%. 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 November was quotes 706.6 points, have an increase of 8.8% compare to last month. In November, the supply and demand were imbalance from Asia to North America trade lane. Cargoes shipments before the Christmas and New Year holidays have ended, and the container shipping market has once again in the off-season. At the same time, although carriers took measures to control the space supply, a large number of new orders vessel are delivered and deployed in the service trade lane, and there is affected by the large surplus of capacity. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in November was $1768（2.0%）and $2338（6.6%）month-on-month respectively.

Source: Ningbo Shipping Exchange