Ningbo Containerized Freight Index: In the week ending Sep-1, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 715.6 points, slightly falling by 0.9% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other fifteen have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, nine ports appear a constant rising tendency while other seven are declining.
Europe and Mediterranean routes: The overall market performance was sluggish, the routes were in a state of oversupply of shipping capacity, and the freight rates of the routes maintained a downward trend. The decline of the Europe routes were further expanded, and the decline of the Mediterranean routes were narrowed. This week, freight index in the route from Ningbo-Europe quotes 476.3 points, down by 9.9% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 680.6 points and 805.0 points, reducing by 3.5% and having a decrease of 4.2% against last week respectively.
North America route: Carriers plan to push up the market freight rates for voyages starting after September. Freight rates on the West America route rose slightly due to shortage of space, and the demand on the East America route remained stable. This week, freight indices in the routes from Ningbo to East America and West America quote 1048.8 points and 1251.8 points, slipping by 0.1% and climbing by 6.7% from one week ago respectively.
Mideast route: Carriers continued to control the available shipping capacity in the market, and the spot market booking price rose slightly this week. This week, freight index in the route from Ningbo-Mideast quotes 654.4 points, having a week-on-week increase of 5.3% compared with last week.
India& Pakistan route: The demand for market transportation continued to rise, and the space for some voyages was tight. The spot market booking price has continued to rise for five consecutive weeks. This week, freight index in the route from Ningbo to India &Pakistan route quotes 1343.9 points, up by 12.0% against last week.
Source:
MSRI
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