Ningbo Containerized Freight Index Weekly Commentary (5.29-6.4）

Transportation demand was generally improving, and most routes had stable freight rates

 

Ningbo Containerized Freight Index: In the week ending Jun-4, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3091.6 points, slightly up by 0.6% against last week. Meanwhile, nine of the selected twenty-one routes maintain an upward trend while other twelve 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,ten are declining and one maintains the same.

Europe and Mediterranean routes: The tightness of ship cabins remained unabated, and it was difficult to find any cabin on some voyages. The overall booking price of the market continued to rise slightly. This week, freight index in the route from Ningbo-Europe quotes 4715.9 points, increasing 2.1% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3609.3 points and 4603.5 points, growing by 1.2% and rising by 1.2% against last week respectively.

North America route: The cargo volume of the market remained strong, and the average loading rate of the route was basically full. Therefore, the overall freight rate in the market was stable. This week, freight indices in the routes from Ningbo to East America and West America quote 2245.1 points and 2950.6 points, increasing by 0.4% and climbing by 0.2% from one week ago respectively.

Mideast route: The market volume gradually increased, and the supply and demand trend was good. The market will usher in a new round of freight rate increases in early June. This week, freight index in the route from Ningbo-Mideast quotes 2861.0 points, having a week-on-week increase of 14.1% compared with last week.

East Africa route: There was a gap in capacity caused by empty shifts of some ships, and spot freight rates in the market continued to rise slightly. This week, freight index in the route from Ningbo to West Africa route quotes 2199.8 points, up by 3.9% against last week.

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.