The overall transportation demand was stable, and the freight rates of some routes fell
Ningbo Containerized Freight Index: In the week ending Aug-6, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3734.4 points, slightly up by 1.1% against last week. Meanwhile, twelve of the selected twenty-one routes maintain an upward trend while other nine have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, three ports appear a constant rising tendency while other fourteen are declining.
Europe and Mediterranean routes: The demand for transportation in the market remained high, the situation of late sailing schedules was still severe, and the overall shipping space of the route was tight. At the beginning of the month, most carriers chose to continue using the previous price. This week , freight index in the route from Ningbo-Europe quotes 5866.7 points, down by 0.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4168.9 points and 5368.0 points, growing by 0.1% and rising by 0.8% against last week respectively.
North America route: The blockage of the destination port caused poor turnover of ships and containers, which seriously affected the operation of the route. Some carriers began to collect congestion charges of the destination port at the beginning of this month. This week, freight indices in the routes from Ningbo to East America and West America quote 2606.7 points and 3850.8 points, increasing by 3.8% and climbing by 7.4% from one week ago respectively.
Mideast route: The overall shipping capacity of the route was still tight, but the supply and demand were generally stable. After the continuous increase in the freight rates, the price dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 3424.8 points, down by 1.9% compared with last week.
Thailand and Vietnam route: Transportation demand could not meet the existing capacity scale, carriers generally demanded cargo, and current freight rates fell. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 1275.7 points, falling by 5.6% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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