China ports container volume rises 2.9% from January to February of 2022: Ningbo Containerized Freight Index decrease in March

From January to February of 2022, the cargo volume of Chinese ports was 2358.1 million tons, a year-on-year increase of 2.7%; the container throughput of Chinese ports was 43.6 million TEU, a year-on-year increase of 2.9%. 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)1 in March was quotes 3718.5 points, have a decrease of 8.1% compare to last month. There was a slight ease of port congestion for the US west costal ports.

The average space utilization rate of ships from Ningbo Zhoushan Port to the US West and US East routes is almost at full load, freight rate remains at a high point. The average freight rate of 40GP from Ningbo Port to Los Angeles port and New York& New Jersey port in February was $8475 and $10378, have an increase of 1.7% and 3.2% month-on-month respectively.

Source: Ningbo Shipping Exchange

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