Ningbo Containerized Freight Index Weekly Commentary (1.1-1.7）

The freight rates of most routes fell, and the composite index stopped rising and fell

 

Ningbo Containerized Freight Index: In the week ending Jan-7, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4233.2 points, slightly falling by 0.7% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other fourteen have fallen and two keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, three ports appear a constant rising tendency,thirteen are declining and one maintains the same.

Europe and Mediterranean routes: The tightness of space in the market eased slightly, and the freight rates of Europe and Mediterranean routes fluctuated steadily at high levels. This week, freight index in the route from Ningbo-Europe quotes 5883.6 points, down by 0.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4555.7 points and 5751.3 points, growing by 0.4% and having a decrease of 0.5% against last week respectively.

North America route: Recently, there have been many cases of temporary cancellation or change of orders. In order to ensure the loading of ships, carriers have released more space to the market, and the overall freight rate of the route has been stable. This week, freight indices in the routes from Ningbo to East America and West America quote 3451.2 points and 4762.0 points, slipping by 0.3% and climbing by 0.9% from one week ago respectively.

Mideast route: Ships were still suspended on a large scale, but the Spring Festival is approaching, freight demand has begun to show signs of decline, and the freight rate of the route has dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 3637.5 points, down by 4.2% compared with last week.

W. South America route: The markets of the west coast of South America routes were relatively flat, and the freight rates of the routes continued to fall. This week, freight index in the route from Ningbo to West South America quotes 4371.8 points, falling by 4.5% against last week.

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