Ningbo Containerized Freight Index: In the week ending Jun-2, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 742.2 points, slightly up by 5.7% against last week. Meanwhile, nine of the selected twenty-one routes maintain an upward trend while other eleven have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eleven ports appear a constant rising tendency, four are declining and one maintains the same.
Europe and Mediterranean routes: The supply and demand fundamentals of these routes are stable, and the spot market booking price trend is stable. Therefore, the freight rate of these routes fluctuates slightly. This week, freight index in the route from Ningbo-Europe quotes 534.5 points, down by 1.2% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 848.2 points and 1004.9 points, reducing by 1.1% and rising by 0.4% against last week respectively.
North America route: Most carriers pushed up the freight rate in June, and the freight rate of the route rebounded obviously, among which the increase of the West America route was more obvious due to the lower freight rate. This week, freight indices in the routes from Ningbo to East America and West America quote 902.2 points and 940.7 points, increasing by 14.7% and climbing by 26.5% from one week ago respectively.
Mideast route: The market transportation demand is gradually picking up, and the booking price in the spot market has risen slightly. This week, freight index in the route from Ningbo-Mideast quotes 992.7 points, having a week-on-week increase of 3.0% compared with last week.
India &Pakistan route: The carriers continue to control the suspension ratio, the market shipment volume continues to rise, the shipping space on the route is tight, and the spot market booking price continues to rise. This week, freight index in the route from Ningbo to India &Pakistan route quotes 1394.0 points, up by 13.2% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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