Ningbo Containerized Freight Index: In the week ending Dec-3, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4038.9 points, slightly up by 0.5% against last week. Meanwhile, eleven of the selected twenty-one routes maintain an upward trend while other nine have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, thirteen ports appear a constant rising tendency, three are declining and one maintains the same.
Europe and Mediterranean routes: The overall supply-demand relationship of the routes was balanced, and some carriers demand goods, which has driven the market freight rate to fall slightly. This week, freight index in the route from Ningbo-Europe quotes 5510.0 points, down by 1.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4248.0 points and 5324.2 points, reducing by 0.6% and having a decrease of 2.0% against last week respectively.
North America route: The poor turnover of ships led to the continued tightness of shipping routes, and the market freight rates continued to rise slightly. This week, freight indices in the routes from Ningbo to East America and West America quote 3259.8 points and 4587.3 points, increasing by 0.5% and climbing by 2.1% from one week ago respectively.
Mideast route: The increase in blank sailings on routes has brought some pressure on the supply side, and the market freight rates have maintained an upward trend. This week, freight index in the route from Ningbo-Mideast quotes 3474.1 points, having a week-on-week increase of 4.3% compared with last week.
Singapore and Malaysia route: The market cargo volume was rising, and the shipping space of the route was tightening, which promoted the increase of spot freight rates. This week, freight index in the route from Ningbo to Singapore& Malaysia route quotes 3573.9 points, up by 9.8% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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