Ningbo Containerized Freight Index: In the week ending Jan-22, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2451.9 points, slightly falling by 0.4% against last week. Meanwhile, eight of the selected twenty-one routes maintain an upward trend while other thirteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, nine ports appear a constant rising tendency while other eight are declining.
Europe and Mediterranean routes: The lack of containers began to ease, but the ship schedule disorder still exists. As the Spring Festival holiday approaches, cargo was transported in a concentrated manner, and European-to-land routes were hot. However, box liners tended to take a wait-and-see attitude in pricing, and freight rates fluctuated slightly. This week, freight index in the route from Ningbo-Europe quotes 3508.0 points, down by 0.2% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2701.4 points and 3499.7 points, reducing by 1.6% and having a decrease of 0.4% against last week respectively.
North America route: The slow operation of the destination port had led to some problems that are difficult to solve in a short-term, such as serious port congestion and poor turnover of ships and containers. The loading rate of the routes continued to run at a high level, and the freight rates were generally stable. This week, freight indices in the routes from Ningbo to East America and West America quote 1702.3 points and 2297.7 points, increasing by 0.1% and climbing by 0.3% from one week ago respectively.
Mideast route: There is no further increase in transportation demand. As a result, the tight shipping space began to loosen, and the current freight rate dropped. This week, freight index in the route from Ningbo-Mideast quotes 2120.3 points, down by 4.3% compared with last week.
Thailand and Vietnam route: Some box liners had adjusted the allocation of container resources, and the problem of lack of containers on the Thai-Vietnam route reappeared. The available space was tight and the current freight rate was increasing. This week, freight index in the route from Ningbo to Thailand and Vietnam route quotes 1956.0 points, up by 13.2% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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