Ningbo Containerized Freight Index Weekly Commentary (8.21-8.27）

Ship schedule adjustments were limited, and some routes had risen

 

Ningbo Containerized Freight Index: In the week ending Aug-27, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4000.2 points, slightly up by 2.6% against last week. Meanwhile, fourteen of the selected twenty-one routes maintain an upward trend while other seven have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eleven ports appear a constant rising tendency while other six are declining.

Europe and Mediterranean routes: The loading rate of European and Mediterranean routes had remained close to full load, and the current freight rates had remained high. This week, freight index in the route from Ningbo-Europe quotes 5910.2 points, increasing 0.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4205.0 points and 5350.0 points, growing by 1.3% and having a decrease of 0.5% against last week respectively.

North America route: Affected by the recent adjustments to shipping schedules and lack of containers, most of the voyages at the end of the month burst. Therefore, the tight supply and demand relationship urged freight rates of early September to continue to rise. This week, freight indices in the routes from Ningbo to East America and West America quote 2965.8 points and 4269.2 points, increasing by 3.7% and climbing by 6.1% from one week ago respectively.

Mideast route: The transportation demand was stable, and the shipping capacity of the route was overall tight. The freight rates in the market recently fluctuated steadily. This week, freight index in the route from Ningbo-Mideast quotes 3924.4 points, down by 0.9% compared with last week.

India and Pakistan route: Carriers' schedule adjustments led to an increase in empty shifts. Therefore, the supply of shipping space was in short supply, and the market freight rates had continued to rise. This week, freight index in the route from Ningbo to India &Pakistan route quotes 6230.6 points, up by 23.7% against last week.

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