Ningbo Shipping Exchange: Although the freight rate of export containers fell significantly in the first quarter, it is still at a historical high, and the logistics cost of foreign trade enterprises is still high

According to the data of Ningbo shipping exchange, Ningbo export container freight index (ncfi) continued to decline in the first quarter of 2022. By the end of the first quarter, the composite index closed at 3552.9, down 16.7% from the end of December 2021, but up 74.1% year-on-year. Among the 21 sub routes monitored, the freight rates of most routes decreased significantly compared with the end of December 2021, but except for West African routes, the freight rates of all routes increased to varying degrees compared with the same period last year. The freight rate of European routes decreased by 2665.0% compared with the end of December 2021, but the freight rate of European routes increased by 2665.0% compared with the end of December 2021; Compared with the end of December 2021, the market freight rate of 40 foot TEUs after the price increase of the East US Route and the West US Route decreased by 34.7% and 48.5% respectively. Most goods shipped to the West US Route do not need to increase the price and book space, but the freight rate is still more than twice that of the same period last year; The freight rate of 40 foot TEU market of Thailand Vietnam and Singapore Malaysia routes is close to one-half of the freight rate at the end of December 2021, but it has increased by 40.1% and 44.1% respectively year-on-year. On the whole, although the freight rate of export containers has dropped significantly, it is still at a historical high, and the logistics cost of foreign trade enterprises is still high.