Ningbo Containerized Freight Index Weekly Commentary (4.15-4.21）

The freight rate of most routes is stable, and the composite index fluctuates slightly

 

Ningbo Containerized Freight Index: In the week ending Apr-21, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 746.1 points, slightly falling by 0.2% against last week. Meanwhile, nine of the selected twenty-one routes maintain an upward trend while other twelve have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, seven ports appear a constant rising tendency while other nine are declining.


Europe and Mediterranean routes: The shipping space of the Europe route is generally sufficient, and the transportation demand is stable. Therefore, the freight rate of the route fluctuates steadily. This week, freight index in the route from Ningbo-Europe quotes 549.4 points, down by 1.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 869.2 points and 983.1 points, growing by 0.6% and having a decrease of 1.1% against last week respectively.


North America route: The fundamentals of supply and demand remain stable, and the freight rate of the route has a slight correction after rising. This week, freight indices in the routes from Ningbo to East America and West America quote 833.5 points and 931.7 points, slipping by 2.5% and dipping by 3.7% from one week ago respectively.


Mideast route: The transportation demand continues to improve, and the space of some voyages is tight, and the spot market booking price continues to rise. This week, freight index in the route from Ningbo-Mideast quotes 1074.1 points, having a week-on-week increase of 6.6% compared with last week.


Black Sea route: The transportation demand continues to recover, and most carriers push up freight rates. This week, freight index in the route from Ningbo to Black Sea route quotes 1171.7 points, up by 15.6% against last week.



Source: MSRI 

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