China ports container volume rises 18.1% From January to April 2021, Ningbo Containerized Freight Index rises in May

Date: 24/05/2021

From January to April 2021, the cargo volume of China ports was 4897.3 million tons, a year-on-year increase of 16.6%; the container throughput of China ports was 89.5million TEU, a year-on-year increase of 18.1%. The chart below shows the cargo throughput and container throughput data of the eight major ports in China.

[Comments: Execpt for Dalian port, the other ports have shown a Cargo and Container volume YoY increase. Dalian port has changed its business model [focus on liquid petrochemicals, automobiles etc - does not rely on containers] (source: here)]

In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI)1 in May was quotes 2770.2 points, have an increase of 18.2% compare to last month. From Ningbo to the North America route, the average slot utilization rate of this trade lane remained fully loaded, and the overall space condition was tight. Some carrier planned to start the second round of rising freight rate in the middle of the month. The average freight rate of 40GP from Ningbo Port to Los Angeles port in May was $4549, have an increase of 13.1% compare to last month, from Ningbo Port to New York port was $5719, increase of 12.0% month-on-month.