Ningbo Containerized Freight Index Weekly Commentary (6.10-6.16）

The freight rate of the America routes continue to adjust, and the composite index continues to fall

 

Ningbo Containerized Freight Index: In the week ending Jun-16, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 659.4 points, slightly falling by 4.2% against last week. Meanwhile, four of the selected twenty-one routes maintain an upward trend while other seventeen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, three ports appear a constant rising tendency while other thirteen are declining.


Europe and Mediterranean routes: The space supply of the Europe and Mediterranean routes still has a certain surplus compared with the transportation demand, and the booking price in the spot market continues to fall, but the decline narrows. This week, freight index in the route from Ningbo-Europe quotes 498.3 points, down by 1.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 818.4 points and 952.0 points, reducing by 0.7% and having a decrease of 1.6% against last week respectively.


North America route: The market shipment volume is still insufficient compared to the shipping capacity, most carriers continue to lower freight rates, and the spot market booking prices continue to fall. This week, freight indices in the routes from Ningbo to East America and West America quote 688.7 points and 668.9 points, slipping by 11.9% and dipping by 14.6% from one week ago respectively.


Mideast route: The supply of shipping capacity is sufficient, and the booking price in the spot market drops slightly. This week, freight index in the route from Ningbo-Mideast quotes 892.5 points, down by 2.5% compared with last week.


Thailand& Vietnam route: The overall transportation demand is weak, and the carriers have to undersell their spaces to canvass more shipping orders, and the market booking price has dropped for three consecutive weeks. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 295.2 points, falling by 10.6% against last week.

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