Ningbo Containerized Freight Index Weekly Commentary (2.5-2.11）

The freight rate of most routes was stable, but the freight rate of Thailand and Vietnam has fallen sharply

 

Ningbo Containerized Freight Index: In the week ending Feb-11, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4064.5 points, slightly falling by 1.4% against last week. Meanwhile, six of the selected twenty-one routes maintain an upward trend while other fourteen have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, two ports appear a constant rising tendency while other fifteen are declining.

Europe and Mediterranean routes: There was little new freight demand in the post-holiday market, and the freight rate of the Europe and Mediterranean route fluctuated steadily.This week, freight index in the route from Ningbo-Europe quotes 5624.0 points, down by 1.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4465.4 points and 5602.5 points, reducing by 0.5% and having a decrease of 1.3% against last week respectively.

North America route: After the holiday, a large number of sailings were suspended in the market, and most of the loaded goods were hoarded last years. Therefore, the North America route basically maintained the original freight rate. This week, freight indices in the routes from Ningbo to East America and West America quote 3499.3 points and 4846.8 points, increasing by 0.0% and climbing by 1.9% from one week ago respectively.

Mideast route: The relationship between supply and demand remained stable on the whole, and the freight rate of the route showed a stable trend. This week, freight index in the route from Ningbo-Mideast quotes 3436.4 points, having a week-on-week increase of 0.3% compared with last week.

Thailand& Vietnam route: After the holiday, most of the shipping schedules were normal, but the volume of shipments was limited. Therefore, the freight rate of the route has dropped sharply. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 2565.0 points, falling by 19.2% against last week.

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