Ningbo Containerized Freight Index Weekly Commentary (4.2-4.8）

The shipping demand was oldrums, freight rates fell on most routes

 

Ningbo Containerized Freight Index: In the week ending Apr-8, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3430.6 points, slightly falling by 1.5% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other fifteen have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, six ports appear a constant rising tendency while other ten are declining.

Europe and Mediterranean routes: There was still a surplus of capacity on the route, and the carriers mainly focused on more shipping orders, and the market freight rate continued to adjust slightly.  This week, freight index in the route from Ningbo-Europe quotes 4383.6 points, down by 2.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4063.5 points and 5088.1 points, reducing by 1.8% and having a decrease of 1.1% against last week respectively.

North America route: The overall transportation demand was stable, and the market freight rate continued to maintain a high level. This week, freight indices in the routes from Ningbo to East America and West America quote 3674.6 points and 5013.9 points, slipping by 0.3% and dipping by 0.4% from one week ago respectively.

Mideast route: The market transportation order volume was still weak, and the spot freight rate maintained a downward trend. Therefore, the spot freight rate kept falling. This week, freight index in the route from Ningbo-Mideast quotes 2174.3 points, down by 4.5% compared with last week.

Thailand and Vietnam route: The cargo was shipped in a centralized manner, and the loading rate of the route was full, which drove the spot freight rate to rise continuously. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 2154.8 points, up by 6.6% against last week.

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