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Ningbo Containerized Freight Index Weekly Commentary (12.26-1.1)

Transport demand surged at the end of the year, and the composite index reached a new high level
 
Ningbo Containerized Freight Index: In the week ending Jan-1, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2493.6 points, slightly up by 5.3% against last week. Meanwhile, sixteen of the selected twenty-one routes maintain an upward trend while other five have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eleven ports appear a constant rising tendency while other six are declining.

Europe and Mediterranean routes: Transportation demand has remained strong which lead to the average slot utlization rate reached nearly hundred percentage.  Most carriers implemented rate hiking plans at the began of the New year, spot market freight rate  reached a new peak again.This week, freight index in the route from Ningbo-Europe quotes 3685.7 points, increasing 15.1% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2722.0 points and 3466.8 points, growing by 5.4% and rising by 13.5% against last week respectively.

North America route: Box liners still adopt a flexible overtime ship model in terms of capacity deployment. The supply and demand fundamental of the route was generally stable, and the freight rate had risen slightly at high levels.This week, freight indices in the routes from Ningbo to East America and West America quote 1780.0 points and 2455.2 points, slipping by 2.3% and dipping by 6.1% from one week ago respectively.

Mideast route: The market cargo volume was on the rise, and the supply-and-demand relationship was improved. The current freight rate had gradually increased. This week, freight index in the route from Ningbo-Mideast quotes 2266.2 points, having a week-on-week increase of 5.2% compared with last week.

East South America route: Most of the voyages departed with full loads. By support of hot transport demand,carriers pushed up the freight rates. This week, freight index in the route from Ningbo to North Africa route quotes 4610.7 points, up by 9.8% against last week.


The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

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