Ningbo Containerized Freight Index: In the week ending Nov-12, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3938.9 points, slightly falling by 0.6% against last week. Meanwhile, ten of the selected twenty-one routes maintain an upward trend while other eleven have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, ten ports appear a constant rising tendency while other seven are declining.
Europe and Mediterranean routes: The market was weak, and the European route had a large capacity base. Most carriers required cargo, and the freight rate maintained a downward trend. This week, freight index in the route from Ningbo-Europe quotes 5504.9 points, down by 1.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4236.5 points and 5284.9 points, reducing by 0.2% and having a decrease of 0.7% against last week respectively.
North America route: Affected by poor ship turnover, the supply of shipping capacity was still tight, and carriers had increased slightly since mid-term. This week, freight indices in the routes from Ningbo to East America and West America quote 3160.2 points and 4300.9 points, increasing by 1.1% and climbing by 0.3% from one week ago respectively.
Mideast route: Market conditions were weakening, and overtime ships have entered the market under the deployment of carriers. Intensified competition had led to a sharp drop in freight rates.This week, freight index in the route from Ningbo-Mideast quotes 3132.3 points, down by 7.6% compared with last week.
Thailand& Vietnam route: The shipment volume has risen rapidly, some of the shifts have burst out of stock, and the spot freight rate has continued to rise. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 1927.0 points, up by 10.0% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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