The supply and demand relationship did not perform well, the composite index continued to fall
Ningbo Containerized Freight Index: In the week ending Mar-18, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3613.9 points, slightly falling by 1.7% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other sixteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, while other sixteen are declining.
Europe and Mediterranean routes: The market transportation demand was sluggish, and the market freight rate continued to drop slightly under the pressure. This week, freight index in the route from Ningbo-Europe quotes 4803.4 points, down by 1.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4190.8 points and 5145.1 points, reducing by 1.1% and having a decrease of 2.7% against last week respectively.
North America route: The supply and demand fundamentals of the routes were generally good, and the market freight rates were generally stable. This week, freight indices in the routes from Ningbo to East America and West America quote 3692.6 points and 5072.5 points, increasing by 1.4% and climbing by 1.2% from one week ago respectively.
Mideast route: The supply of shipping space obviously exceeded the demand, and the spot freight rate continued to decline. This week, freight index in the route from Ningbo-Mideast quotes 2556.4 points, down by 6.6% compared with last week.
India and Pakistan route: There was exposure to the supply of goods in the market, and carriers were forced to cut freight rates to gain supply. This week, freight index in the route from Ningbo to India &Pakistan route quotes 4679.4 points, falling by 7.4 % against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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