Ningbo Containerized Freight Index Weekly Commentary (8.28-9.3）

Ship schedule adjustments were limited, and some routes had risen

 

Ningbo Containerized Freight Index: In the week ending Sep-3, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4082.4 points, slightly up by 2.1% against last week. Meanwhile, fifteen of the selected twenty-one routes maintain an upward trend while other six have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, sixteen ports appear a constant rising tendency while other one are declining.

Europe and Mediterranean routes: The transportation demand remained high, and the shipping space was tight. Due to the large number of blank sailings on the Mediterranean route, the tightness of space had become more serious, and the market freight rates had risen slightly. This week, freight index in the route from Ningbo-Europe quotes 5977.2 points, increasing 1.1% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4286.9 points and 5580.5 points, growing by 1.9% and rising by 4.3% against last week respectively.

North America route: The market shipments remained strong, and most voyages fully loaded. The market freight rates had a slight correction after rising at the beginning of the month. This week, freight indices in the routes from Ningbo to East America and West America quote 2918.8 points and 4204.5 points, slipping by 1.6% and dipping by 1.5% from one week ago respectively.

Mideast route: The supply-demand relationship of the routes was stable, the space loading condition was good, and the market freight rates remained high. This week, freight index in the route from Ningbo-Mideast quotes 3901.3 points, down by 0.6% compared with last week.

Red Sea route: The adjustment of the shipping schedule of the carriers and the large number of blank sailings had caused a large gap in the inventory capacity, and the market freight rates had risen sharply. This week, freight index in the route from Ningbo to Red Sea route quotes 5280.9 points, up by 14.0% against last week.

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