Ningbo Containerized Freight Index: In the week ending Feb-5, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2369.8 points, slightly falling by 1.4% against last week. Meanwhile, two of the selected twenty-one routes maintain an upward trend while other nineteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, one ports appear a constant rising tendency while other sixteen are declining.
Europe and Mediterranean routes: The transportation demand declined a little due to some factories were gradually shutting down one week from the Spring Festival. Although the carriers decreased shipping service during the Spring Festival, they still slightly decreased freight rates for storing cargoes in the Spring Festival. This week, freight index in the route from Ningbo-Europe quotes 3379.3 points, down by 0.7% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2584.2 points and 3410.2 points, reducing by 2.1% and having a decrease of 0.5% against last week respectively.
North America route: The import demand of North American market was still prosperous. Most shipping loading rate sustained at high position. The overall freight rates were stabilized at high position, because of the pressure of space caused by jam of the destination ports and shortage of container facilities. This week, freight indices in the routes from Ningbo to East America and West America quote 1719.0 points and 2297.6 points, increasing by 0.4% and climbing by 0.4% from one week ago respectively.
Mideast route: The supply of space remained tight. However, due to fewer goods shipped during the festival, most carriers chose to continue to lower their freight rates, which led to a fall trend. This week, freight index in the route from Ningbo-Mideast quotes 1974.9 points, down by 5.9% compared with last week.
Red Sea route: Affected by factors such as the initial shutdown of the factory, the volume of goods dropped slightly. The freight rate of the route continued to fall from the high level. This week, freight index in the route from Ningbo to Red Sea route quotes 1871.4 points, falling by 9.4% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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