Ningbo Containerized Freight Index: In the week ending Nov-3, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 753.5 points, slightly up by 3.5% against last week. Meanwhile, ten of the selected twenty-one routes maintain an upward trend while other eleven have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eight ports appear a constant rising tendency while other eight are declining.
Europe and Mediterranean routes: Carriers strictly control available shipping capacity, and freight rates on Europe route continue to rise. Freight rates on the Mediterranean route fell due to the relative lack of transportation demand, with the Mediterranean route experiencing a larger decline. This week, freight index in the route from Ningbo-Europe quotes 516.6 points, increasing 4.7% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 642.0 points and 698.6 points, reducing by 0.9% and having a decrease of 8.4% against last week respectively.
North America route: The overall shipping capacity of routes this week is tight, and market freight rates continue to rise. This week, freight indices in the routes from Ningbo to East America and West America quote 849.7 points and 1222.6 points, increasing by 8.3% and climbing by 10.7% from one week ago respectively.
Mideast route: Shipping space on routes continues to be tight, carriers continue to push up freight rates, and booking prices in the spot market continue to rise. This week, freight index in the route from Ningbo-Mideast quotes 987.2 points, having a week-on-week increase of 8.7% compared with last week.
E. South America route: Destination demand continues to rise, and booking prices in the spot market have increased by more than 10% for four consecutive weeks. This week, freight index in the route from Ningbo to East South America quotes 1611.9 points, up by 15.3% against last week.
Source:
MSRI
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