Ningbo Containerized Freight Index Weekly Commentary (8.19-8.25）

The overall transportation demand was limited, and the freight rates of most routes dropped

 

Ningbo Containerized Freight Index: In the week ending Aug-25, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 722.1 points, slightly falling by 0.9% 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, twelve ports appear a constant rising tendency while other four are declining.


Europe and Mediterranean routes: The overall loading rate of the European route was insufficient, and most carriers continued to undersell their spaces to canvass more shipping orders, and the market freight rate continued to fall. This week, freight index in the route from Ningbo-Europe quotes 528.8 points, down by 5.9% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 705.6 points and 840.2 points, reducing by 7.0% and having a decrease of 5.1% against last week respectively.


North America route: At the end of the month, the overall market demand for shipments was limited, and some carriers slightly lowered their freight rates to try to attract goods. This week, freight indices in the routes from Ningbo to East America and West America quote 1049.4 points and 1173.7 points, slipping by 1.8% and dipping by 0.9% from one week ago respectively.

Mideast route: This week, the market supply and demand relationship was generally stable, and the spot market booking price fluctuated steadily. Therefore, the booking price in the spot market continued to rise sharply. This week, freight index in the route from Ningbo-Mideast quotes 621.2 points, having a week-on-week increase of 0.3% compared with last week.

 

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.