Ningbo Containerized Freight Index Weekly Commentary (4.23-4.29）

Supply and demand were basically stable, and the composite index rose slightly

 

Ningbo Containerized Freight Index: In the week ending Apr-29, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3403.1 points, slightly up by 0.5% against last week. Meanwhile, fifteen of the selected twenty-one routes maintain an upward trend while other six have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eight ports appear a constant rising tendency while other eight are declining.

Europe and Mediterranean routes: The supply-demand relationship was in sound level, and most carriers chose to maintain freight rates. This week, freight index in the route from Ningbo-Europe quotes 4321.7 points, increasing 0.3% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4106.2 points and 5012.1 points, growing by 0.5% and rising by 0.9% against last week respectively.

North America route: The overall supply and demand relationship was stable, and the market freight rate continued to hover at a high level. This week, freight indices in the routes from Ningbo to East America and West America quote 3671.2 points and 4957.5 points, slipping by 1.3% and climbing by 0.1% from one week ago respectively.

Mideast route: The market volume recovered slowly, and the spot freight rate remained unchanged. This week, freight index in the route from Ningbo-Mideast quotes 2169.0 points, down by 1.1% compared with last week.

India and Pakistan route: Some voyages are scheduled to be empty in May, and the tightening of transportation capacity is expected to lead to the centralized shipment of some goods. Therefore, the market freight rate had risen slightly. 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 India &Pakistan route quotes 4005.3 points, up by 6.2% against last week.

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