The freight rate of most routes fell, and the freight rate of Thailand and Vietnam continued to rise
Ningbo Containerized Freight Index: In the week ending Mar-3, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 637.8 points, slightly falling by 2.8% against last week. Meanwhile, five of the selected twenty-one routes maintain an upward trend while other sixteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, six ports appear a constant rising tendency while other ten are declining.
Europe and Mediterranean routes: The transportation demand continues to recover slowly, and the shipping capacity of the route is still surplus. The spot market booking prices of the Europe and the West Mediterranean routes continue to drop, and the freight rates of the East Mediterranean route fluctuate steadily this week. This week, freight index in the route from Ningbo-Europe quotes 538.1 points, down by 4.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 930.1 points and 1017.1 points, growing by 0.3% and having a decrease of 1.8% against last week respectively.
North America route: Freight demand began to recover slowly, and carriers gradually resumed capacity supply. The overall market supply still exceeded demand, and the freight rate of routes maintained a slight downward trend. This week, freight indices in the routes from Ningbo to East America and West America quote 745.3 points and 681.8 points, slipping by 3.7% and dipping by 1.9% from one week ago respectively.
Mideast route: Different from the peak shipments before Ramadan in the past, the current market demand for shipments is lower than expected, and the spot market booking prices continue to fall. This week, freight index in the route from Ningbo-Mideast quotes 585.8 points, down by 6.6% compared with last week.
Thailand& Vietnam route: With the approach of the Water-Splashing Festival at the destination, the demand for shipments in the market is concentrated in the short term, and the booking price in the spot market has soared sharply. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 447.1 points, up by 41.1% against last week.
Europe and Mediterranean routes: The transportation demand continues to recover slowly, and the shipping capacity of the route is still surplus. The spot market booking prices of the Europe and the West Mediterranean routes continue to drop, and the freight rates of the East Mediterranean route fluctuate steadily this week. This week, freight index in the route from Ningbo-Europe quotes 538.1 points, down by 4.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 930.1 points and 1017.1 points, growing by 0.3% and having a decrease of 1.8% against last week respectively.
North America route: Freight demand began to recover slowly, and carriers gradually resumed capacity supply. The overall market supply still exceeded demand, and the freight rate of routes maintained a slight downward trend. This week, freight indices in the routes from Ningbo to East America and West America quote 745.3 points and 681.8 points, slipping by 3.7% and dipping by 1.9% from one week ago respectively.
Mideast route: Different from the peak shipments before Ramadan in the past, the current market demand for shipments is lower than expected, and the spot market booking prices continue to fall. This week, freight index in the route from Ningbo-Mideast quotes 585.8 points, down by 6.6% compared with last week.
Thailand& Vietnam route: With the approach of the Water-Splashing Festival at the destination, the demand for shipments in the market is concentrated in the short term, and the booking price in the spot market has soared sharply. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 447.1 points, up by 41.1% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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