Ningbo Containerized Freight Index Weekly Commentary (4.16-4.22）

Market performance was relative soft, and the composite index fell slightly

 

Ningbo Containerized Freight Index: In the week ending Apr-22, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3387.7 points, slightly falling by 1.3% against last week. Meanwhile, three of the selected twenty-one routes maintain an upward trend while other eighteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, one ports appear a constant rising tendency,fourteen are declining and one maintains the same.

Europe and Mediterranean routes: The overall loading rate of the Europe and Mediterranean routes has increased compared with the previous period, but carriers maintain a conservative attitude in pricing. Some carriers cut prices slightly to canvass more shipping orders. This week, freight index in the route from Ningbo-Europe quotes 4307.4 points, down by 1.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4087.5 points and 4969.4 points, growing by 0.1% and having a decrease of 0.9% against last week respectively.

North America route: The supply-demand relationship of the route was in sound level, and the market freight rate remained high. This week, freight indices in the routes from Ningbo to East America and West America quote 3720.6 points and 4952.0 points, slipping by 0.2% and dipping by 0.1% from one week ago respectively.

Mideast route: Most carriers still canvass cargo, and spot freight rates fell. This week, freight index in the route from Ningbo-Mideast quotes 2193.9 points, down by 3.1% compared with last week.

Singapore& Malaysia route: The market performance was relatively soft, the transportation demand gradually decreased. Therefore, the freight rate level was difficult to maintain the previous price and began to fall. This week, freight index in the route from Ningbo to Singapore& Malaysia route quotes 2402.0 points, falling by 8.6% against last week.

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