Ningbo Containerized Freight Index: In the week ending Jan-15, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2461.9 points, slightly falling by 1.5% against last week. Meanwhile, nine of the selected twenty-one routes maintain an upward trend while other twelve have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, seven ports appear a constant rising tendency while other ten are declining.
Europe and Mediterranean routes: Affected by ship delays and container shortages, the market is still in short supply. After hitting a high point at the beginning of the month, freight rates continued to decline slightly this week in the Europea routes, while freight rates remained stable in the Mediterranean route. This week, freight index in the route from Ningbo-Europe quotes 3516.0 points, down by 2.1% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2746.5 points and 3514.5 points, reducing by 0.6% and rising by 0.1% against last week respectively.
North America route: Transportation demand continued to be strong as it approaches the Chinese New Year. Some box liners added overtime shipping capacity to the service route, and lowered the freight rate to attract more cargo volume. Therefore, the freight rate was declined. This week, freight indices in the routes from Ningbo to East America and West America quote 1701.1 points and 2291.3 points, slipping by 7.7% and dipping by 7.1% from one week ago respectively.
Mideast route: The supply and demand fundamental of the route was generally stable. The tightness of space gradually eased, and the freight rate dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 2216.6 points, down by 2.3% compared with last week.
West Africa route: Transportation demand exceeded the existing supply of capacity, which pushed up the current freight rate. This week, freight index in the route from Ningbo to West Africa route quotes 2828.7 points, up by 17.0% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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