Most routes were tight, and the overall index rose slowly
Ningbo Containerized Freight Index: In the week ending Jun-18, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3250.9 points, slightly up by 0.5% against last week. Meanwhile, eleven of the selected twenty-one routes maintain an upward trend while other ten have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, seven ports appear a constant rising tendency while other ten are declining.
Europe and Mediterranean routes: The freight rates continued to rise, and some cargo owners were forced to delay their shipment plans, but the overall shipping space of the route was still tight. After the second increase in the middle of the month, booking prices remained stable. This week, freight index in the route from Ningbo-Europe quotes 5102.3 points, increasing 1.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3847.7 points and 4856.1 points, growing by 1.4% and having a decrease of 0.7% against last week respectively.
North America route: The consignee at the port of destination replenished the inventory, prompting the transportation demand to remain strong. Therefore, the market freight rate maintained the same level. This week, freight indices in the routes from Ningbo to East America and West America quote 2293.9 points and 3048.1 points, increasing by 1.0% and dipping by 0.1% from one week ago respectively.
Mideast route: The supply-demand relationship of the route was stable, and the space of some voyages was tight, and the price of spot bookings fluctuated slightly. This week, freight index in the route from Ningbo-Mideast quotes 2925.8 points, having a week-on-week increase of 0.6% compared with last week.
West Africa route: The gradual increase in market cargo volume and the tight supply of shipping capacity on routes, had caused the freight rates to rise. This week, freight index in the route from Ningbo to West Africa route quotes 3408.2 points, up by 8.1% against last week.
Europe and Mediterranean routes: The freight rates continued to rise, and some cargo owners were forced to delay their shipment plans, but the overall shipping space of the route was still tight. After the second increase in the middle of the month, booking prices remained stable. This week, freight index in the route from Ningbo-Europe quotes 5102.3 points, increasing 1.5% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3847.7 points and 4856.1 points, growing by 1.4% and having a decrease of 0.7% against last week respectively.
North America route: The consignee at the port of destination replenished the inventory, prompting the transportation demand to remain strong. Therefore, the market freight rate maintained the same level. This week, freight indices in the routes from Ningbo to East America and West America quote 2293.9 points and 3048.1 points, increasing by 1.0% and dipping by 0.1% from one week ago respectively.
Mideast route: The supply-demand relationship of the route was stable, and the space of some voyages was tight, and the price of spot bookings fluctuated slightly. This week, freight index in the route from Ningbo-Mideast quotes 2925.8 points, having a week-on-week increase of 0.6% compared with last week.
West Africa route: The gradual increase in market cargo volume and the tight supply of shipping capacity on routes, had caused the freight rates to rise. This week, freight index in the route from Ningbo to West Africa route quotes 3408.2 points, up by 8.1% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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