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Major freight indexes hit new record-highs on the last day of the year

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Shri Vaibhavi Logistics

SHANGHAI : Two major freight indexes, SCFI and NCFI, reached record-high figures on the last day of the previous year, which was marked by skyrocketing container freight rates.

The Shanghai Containerized Freight Index (SCFI) has surpassed the US$5,000/TEU mark for the first time in history on 31 December of 2021.

The index, which reflects the ocean freight surcharges of individual shipping routes from Shanghai, launched in October 2009 and on the last day of 2021 reported a record-high US$5,046.66/TEU.

SCFI’s latest figure represented an increase of 90.64 points compared to the previous week’s numbers.

On the same date, another freight index, Ningbo Containerized Freight Index (NCFI), reached an all-time record high of US$4,264/FEU.

NCFI reflects the fluctuation of freight rates of the international container shipping market by calculating and recording the changes of container freight rates of 21 routes departing from Ningbo-Zhoushan port.

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