Ningbo Containerized Freight Index: In the week ending Nov-26, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4020.0 points, slightly up by 1.4% 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: At the end of the month, the number of blank sailings on Europe and Mediterranean routes increased, and some carriers raised spot booking prices, which led to a slight rebound in market freight rates. This week, freight index in the route from Ningbo-Europe quotes 5567.0 points, increasing 2.3% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4274.6 points and 5434.0 points, growing by 1.3% and rising by 3.2% against last week respectively.
North America route: The congestion of the destination port has caused difficulties in ship turnover, the empty schedule of routes has gradually become serious, the tightness of space has increased. Therefore, the market freight rate has risen slightly. This week, freight indices in the routes from Ningbo to East America and West America quote 3244.2 points and 4491.7 points, increasing by 0.8% and climbing by 1.3% from one week ago respectively.
Mideast route: Affected by ship schedule delays and blank sailings adjustments, the stock capacity has been reduced accordingly, and market freight rates have continued to rebound. This week, freight index in the route from Ningbo-Mideast quotes 3332.1 points, having a week-on-week increase of 4.0% compared with last week.
Thailand& Vietnam route: Under the dual pressures of centralized cargo shipments and unstable supply of capacity, the shipping route bursts continued, and the market freight rates continued to rise. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 3082.6 points, up by 20.3% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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