Ningbo Containerized Freight Index: In the week ending Mar-24, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 651.1 points, slightly up by 5.9% 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, eleven ports appear a constant rising tendency while other five are declining.
Europe and Mediterranean routes: The carriers continued to control the deployment of shipping capacity, and some voyages on the European routes experienced full loads. Therefore, the carriers actively pushed up the market freight rates for the April voyages. This week, freight index in the route from Ningbo-Europe quotes 565.6 points, increasing 3.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 919.6 points and 1036.1 points, growing by 3.4% and rising by 4.1% against last week respectively.
North America route: After the continuous decline in the previous period, the freight rate of the route has reached a low level. The decline of the East America route narrowed, and the West America route remained stable. This week, freight indices in the routes from Ningbo to East America and West America quote 663.6 points and 659.3 points, slipping by 2.9% and climbing by 1.1% from one week ago respectively.
Mideast route: The destination was about to Ramadan, and the market accelerated the pace of shipments, and the carriers took advantage of the trend to push up the freight rate. This week, freight index in the route from Ningbo-Mideast quotes 803.8 points, having a week-on-week increase of 46.4% compared with last week.
Red Sea route: The cargoes prepared for the destinations were arranged to be shipped one after another, and the space of some voyages was tight, and the booking price in the spot market has rebounded sharply. This week, freight index in the route from Ningbo to Red Sea route quotes 1174.4 points, up by 22.1% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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