Ningbo Containerized Freight Index: In the week ending Jul-21, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 649.9 points, slightly falling by 2.6% against last week. Meanwhile, six of the selected twenty-one routes maintain an upward trend while other fourteen have fallen and one keeps steady. 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: Affected by the carriers' announcement to increase the sea freight for the voyages of the European routes after August, the market shipments increased at the end of the month, of which the European routes fluctuated steadily, and the decline of the Mediterranean route narrowed. This week, freight index in the route from Ningbo-Europe quotes 462.0 points, increasing 0.9% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 698.1 points and 813.0 points, reducing by 1.5% and having a decrease of 1.9% against last week respectively.
North America route: Under the support of carriers' capacity regulation, the relationship between supply and demand of routes has improved, and the market freight rate this week basically maintains the level after last week's increase. This week, freight indices in the routes from Ningbo to East America and West America quote 918.8 points and 1006.0 points, slipping by 0.3% and dipping by 0.1% from one week ago respectively.
Mideast route: There is an obvious gap between the market cargo volume and the stock capacity, and the carriers further lowered the freight rate, and the drop in the spot market booking price expanded. This week, freight index in the route from Ningbo-Mideast quotes 540.2 points, down by 16.7% compared with last week.
Red Sea route: The overall cargo volume in the market was insufficient, and most carriers stepped up efforts to solicit cargo, and the booking price in the spot market accelerated to drop. This week, freight index in the route from Ningbo to Red Sea route quotes 868.5 points, falling by 16.7% against last week.
Source:
MSRI
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