Ningbo Containerized Freight Index Weekly Commentary (10.9-10.15）

The supply and demand situation had improved, and the composite index had fallen slightly

 

Ningbo Containerized Freight Index: In the week ending Oct-15, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4027.8 points, slightly falling by 1.6% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other sixteen 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: Transportation demand had fallen to a certain extent compared to the period before the National Day, and the relationship between supply and demand had eased. The freight rates of the European route market had dropped slightly. The Mediterranean route had a relatively stable supply and demand relationship due to a small capacity base, and the fluctuation of freight rates was flat. This week, freight index in the route from Ningbo-Europe quotes 5740.9 points, down by 2.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4289.7 points and 5631.7 points, reducing by 0.1% and rising by 1.3% against last week respectively.

North America route: The supply-demand relationship of the routes was basically stable, and the market freight rate had not shown obvious fluctuations. This week, freight indices in the routes from Ningbo to East America and West America quote 2907.9 points and 4188.9 points, slipping by 0.4% and dipping by 0.3% from one week ago respectively.

Mideast route: Compared with the pre-holiday period, the market shipment volume had fallen more, the space supply was relatively sufficient, and the market freight rates had dropped significantly. This week, freight index in the route from Ningbo-Mideast quotes 3449.9 points, down by 7.2% compared with last week.

India and Pakistan route: The freight rate of the route was already at a high level, and the eased supply-demand relationship had failed to support the route to maintain the original high price level, and the market freight rates  had fallen sharply. This week, freight index in the route from Ningbo to India &Pakistan route quotes 6642.2 points, falling by 10.8% against last week.

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