Ningbo Containerized Freight Index: In the week ending Aug-12, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2776.2 points, slightly falling by 4.7% against last week. Meanwhile, no of the selected twenty-one routes maintain an upward trend while other twenty-one have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, two ports appear a constant rising tendency while other fourteen are declining.
Europe and Mediterranean routes: Inflation persisted in Europe, consumer purchasing demand was weak, and the market was oversupplied. Since August, the week-on-week decline of the freight index on the European route has been significantly larger than that in July. This week, freight index in the route from Ningbo-Europe quotes 3640.7 points, down by 3.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3193.2 points and 4041.6 points, reducing by 5.9% and having a decrease of 3.9% against last week respectively.
North America route: The shipping demand was doldrums, the freight demand did not increase, and the freight rates of the North America route continued to decline. This week, freight indices in the routes from Ningbo to East America and West America quote 3151.5 points and 3373.0 points, slipping by 1.7% and dipping by 4.6% from one week ago respectively.
Mideast route: The relationship between supply and demand in the market did not improve, and the freight rate of the route maintained a relatively large decline. Up to now, the freight rate index of Mideast route has dropped by 45.2% compared with mid-June. This week, freight index in the route from Ningbo-Mideast quotes 1821.7 points, down by 8.4% compared with last week.
Thailand& Vietnam route: The freight demand was seriously insufficient, and the shipping space on the Thailand and Vietnam route was excessive. The freight rate has continued to decline for 10 weeks, and the weekly decline was the largest this year. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 552.2 points, falling by 32.2% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
Please Contact Us at：
media@xindemarine.com
.gif)
