Ningbo Containerized Freight Index Weekly Commentary (2.6-2.12）

Some voyages were suspended during the festival, and

the composite index trended steady
 

Ningbo Containerized Freight Index: In the week ending Feb-12, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2357.8 points, slightly falling by 0.5% against last week. Meanwhile, six of the selected twenty-one routes maintain an upward trend while other fifteen 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: During the Spring Festival, the freight rates overall held steady. Carriers suspended some voyages, and the rest of the voyages generally loaded stored supply from the time before the Festival. This week, freight index in the route from Ningbo- Europe quotes 3360.5 points, down by 0.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2560.6 points and 3396.3 points, reducing by 0.9% and having a decrease of 0.4% against last week respectively.

North America route: During the Spring Festival, there was hardly new supply from the market because most of the factories closed. Despite carriers decreased their voyages, the rest of the voyages could still full load with stored supply before the Festival. The freight rates overall held steady. This week, freight indices in the routes from Ningbo to East America and West America quote 1699.1 points and 2302.0 points, slipping by 1.2% and climbing by 0.2% from one week ago respectively.

Mideast route: During the Spring Festival, the current freight rates declined slightly. Due to low supply from the market, the carriers suspended voyages. The overall supply and demand of the route kept stable. This week, freight index in the route from Ningbo-Mideast quotes 1950.9 points, down by 1.2% compared with last week.

West South America route: The current freight rates dropped slightly because carries stored limited supply before the Festival that some voyages contained empty space during the Festival. This week, freight index in the route from Ningbo to west South America quotes 2860.7 points, falling by 2.5% against last week.

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