Ningbo Containerized Freight Index Weekly Commentary (7.3-7.9）

The freight rates of some routes retraced, and the composite index maintained an upward trend

 

Ningbo Containerized Freight Index: In the week ending Jul-9, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3442.4 points, slightly up by 0.3% against last week. Meanwhile, seven of the selected twenty-one routes maintain an upward trend while other fourteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, four ports appear a constant rising tendency while other thirteen are declining.

Europe and Mediterranean routes: Due to the congestion of the destination port, the late sailing schedule was serious, which indirectly supported the hot space supply. The overall transportation demand in this week was stable, and the booking price fluctuated slightly. This week, freight index in the route from Ningbo-Europe quotes 5568.6 points, increasing 1.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4003.3 points and 5098.0 points, growing by 1.6% and having a decrease of 0.7% against last week respectively .

North America route: The transportation demand remained high, route supply-demand relationship maintained a dynamic balance, and the freight rate trended steady this week. This week, freight indices in the routes from Ningbo to East America and West America quote 2429.0 points and 3276.0 points, slipping by 0.2% and climbing by 0.1% from one week ago respectively.

Mideast route: After continuous increased in the previous period, freight rates have accumulated a large increase. This week, the supply and demand of the routes were stable, and the market freight rate slightly corrected. This week, freight index in the route from Ningbo-Mideast quotes 3010.1 points, down by 2.5% compared with last week.

Australia and New Zealand route: The transportation demand remained high, and the tight capacity urged the shipping price to continue to rise. This week, freight index in the route from Ningbo to Australia and New Zealand route quotes 4596.3 points, up by 8.2% against last week.

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