Ningbo Containerized Freight Index Weekly Commentary (5.7-5.13）

Transportation demand gradually picked up, and the composite index rose slightly

 

Ningbo Containerized Freight Index: In the week ending May-13, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3460.3 points, slightly up by 1.1% against last week. Meanwhile, fifteen of the selected twenty-one routes maintain an upward trend while the other six have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eleven ports appear a constant rising tendency while the other five are declining.

Europe and Mediterranean routes: The market volume was generally stable, and some carriers on the European route cut prices slightly to canvass more shipping orders. This week, freight index in the route from Ningbo-Europe quotes 4258.5 points, down by 1.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4133.5 points and 4984.3 points, growing by 0.1% and having a decrease of 0.2% against last week respectively.

North America route: The shipping schedule of the North America route has been relatively concentrated recently, and the market freight rate has dropped slightly. This week, freight indices in the routes from Ningbo to East America and West America quote 3551.9 points and 4982.5 points, slipping by 2.5% and dipping by 0.4% from one week ago respectively.

Mideast route: Affected by the cancellation of some schedules, the reduction in route capacity has led to an increase in spot freight rates. This week, freight index in the route from Ningbo-Mideast quotes 2575.8 points, having a week-on-week increase of 17.1% compared with last week.

India and Pakistan route: The demand for freight has gradually increased, and the shipping space on the route has been tightened, which has pushed up the spot freight rate. This week, freight index in the route from Ningbo to India &Pakistan route quotes 4633.5 points , up by 12.2% against last week.

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