Ningbo Containerized Freight Index: In the week ending May-12, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 701.4 points, slightly falling by 0.6% against last week. Meanwhile, ten of the selected twenty-one routes maintain an upward trend while other eleven 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 transportation demand is generally stable, the supply and demand remain balanced, and the spot market booking price fluctuates steadily. This week, freight index in the route from Ningbo-Europe quotes 542.7 points, increasing 0.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 865.4 points and 1014.2 points, reducing by 1.4% and rising by 0.3% against last week respectively.
North America route: The supply of shipping space on the route is still sufficient compared with the market shipping demand, and the decline in the freight rate of the route has expanded. This week, freight indices in the routes from Ningbo to East America and West America quote 790.0 points and 785.3 points, slipping by 2.6% and dipping by 5.0% from one week ago respectively.
Mideast route: The transportation demand remains stable, the air space is generally sufficient, and the spot market booking price maintains a slight downward trend. This week, freight index in the route from Ningbo-Mideast quotes 912.3 points, down by 3.0% compared with last week.
India &Pakistan route: The market transportation demand has recovered, and carriers have implemented a large proportion of suspensions, and the spot market booking price has risen sharply. This week, freight index in the route from Ningbo to India &Pakistan route quotes 830.8 points, up by 26.7% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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