Prices of some routes increased at the beginning of the month, and the composite index continued to rise
Ningbo Containerized Freight Index: In the week ending Jun-3, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3538.1 points, slightly up by 1.0% 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, ten ports appear a constant rising tendency while other six are declining.
Europe and Mediterranean routes: At the beginning of the month, the shipping space of Europe and Mediterranean routes was abundant, and most carriers chose to maintain freight rates. This week, freight index in the route from Ningbo-Europe quotes 4272.5 points, down by 0.2% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4116.2 points and 4899.1 points, reducing by 0.3% and having a decrease of 1.0% against last week respectively.
Europe and Mediterranean routes: At the beginning of the month, the shipping space of Europe and Mediterranean routes was abundant, and most carriers chose to maintain freight rates. This week, freight index in the route from Ningbo-Europe quotes 4272.5 points, down by 0.2% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4116.2 points and 4899.1 points, reducing by 0.3% and having a decrease of 1.0% against last week respectively.
North America route: There was an excess supply of space on West America route, and the freight rate drops slightly; the East America route was relatively tight, and some carriers try to push it up. This week, freight indices in the routes from Ningbo to East America and West America quote 3501.6 points and 4799.8 points, increasing by 1.7% and dipping by 0.9% from one week ago respectively.
Mideast route: The stability of the shipping schedule was still not good, and the tight shipping space drove the spot freight rate to continue to rise. This week, freight index in the route from Ningbo-Mideast quotes 3255.5 points, having a week-on-week increase of 13.1% compared with last week.
Red Sea route: At the beginning of June, some voyages were still temporarily suspended, and the limited supply of route capacity led to an unbalanced supply and demand relationship, and spot freight rates continued to rise. This week, freight index in the route from Ningbo to Red Sea route quotes 4585.9 points, up by 12.9% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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