The demand Increased at the end of the year, and the freight rates of most routes have increased
Ningbo Containerized Freight Index: In the week ending Dec-24, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4188.4 points, slightly up by 1.9% against last week. Meanwhile, fifteen of the selected twenty-one routes maintain an upward trend while other five have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, fifteen ports appear a constant rising tendency,one are declining and one maintains the same.
Europe and Mediterranean routes: The Spring Festival in 2022 is relatively early, and cargo owners have begun to make arrangements for shipments. In addition, the inventory capacity has been reduced due to the impact of empty shifts, and the tight space has promoted the increase in market freight rates. This week, freight index in the route from Ningbo-Europe quotes 5681.8 points, increasing 2.2% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4466.5 points and 5664.0 points, growing by 3.4% and rising by 1.8% against last week respectively.
North America route: At the end of the month, the fundamentals of supply and demand were tight, the loading rate of the route was basically fully loaded, and the market freight rate remained high. This week, freight indices in the routes from Ningbo to East America and West America quote 3377.8 points and 4528.3 points, increasing by 0.2% and dipping by 0.6% from one week ago respectively.
Mideast route: There were still late and blank sailings on the routes, and the tight space has prompted a sharp increase in freight rates. This week, freight index in the route from Ningbo-Mideast quotes 3798.6 points, having a week-on-week increase of 7.1% compared with last week.
Red Sea route: Affected by the adjustment of the shipping schedule of the liner company, the short-term reduction of the stock capacity was more serious, and the spot freight rate continued to rise rapidly. This week, freight index in the route from Ningbo to Red Sea route quotes 5170.4 points, up by 9.4% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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