Ningbo Containerized Freight Index: In the week ending Jul-14, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 667.4 points, slightly up by 3.1% against last week. Meanwhile, eight of the selected twenty-one routes maintain an upward trend while other thirteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, four ports appear a constant rising tendency while other twelve are declining.
Europe and Mediterranean routes: The overall supply of shipping space in the market is oversupplied, and the freight rate of the European route maintains a slight downward trend this week. This week, freight index in the route from Ningbo-Europe quotes 457.8 points, down by 1.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 708.7 points and 828.4 points, reducing by 4.5% and having a decrease of 2.0% against last week respectively.
North America route: The carriers have further reduced their shipping capacity, coupled with the slow increase in market shipments. Therefore, the carriers collectively push up the freight rates of the North American routes, and the market booking prices rise sharply. This week, freight indices in the routes from Ningbo to East America and West America quote 922.0 points and 1007.4 points, increasing by 15.5% and climbing by 24.1% from one week ago respectively.
Mideast route: The market conditions continue to be weak, the competition among carriers has intensified, and the spot market booking price has further dropped. This week, freight index in the route from Ningbo-Mideast quotes 648.7 points, down by 9.7% compared with last week.
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