Ningbo Containerized Freight Index Weekly Commentary (7.17-7.23）

2021-08-02 09:55By： xinhua

Transportation demand remained high, the composite index continued to rise

Ningbo Containerized Freight Index: In the week ending Jul-23, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3652.1 points, slightly up by 2.4% against last week. Meanwhile, seventeen of the selected twenty-one routes maintain an upward trend while other four 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,six are declining and one maintains the same.

Europe and Mediterranean routes: The loading rate of the Europe and Mediterranean route was full, and space on most of the voyages were tight. The freight rate of this route has increased this week. This week, freight index in the route from Ningbo-Europe quotes 5793.2 points, increasing 0.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4186.5 points and 5320.0 points, growing by 4.3% and rising by 0.8% against last week respectively.

North America route: The pressure of unmovement container and shipping schedule cancel caused by the congestion at the destination port have not been alleviated. Therefore, the supply and demand relationship of the route was still tight, and the market booking rate continued to rise. This week, freight indices in the routes from Ningbo to East America and West America quote 2494.8 points and 3545.0 points, increasing by 1.1% and climbing by 1.3% from one week ago respectively.

Mideast route: The large number of blanks sailing caused the space tight, and the current freight rate continued to rise.This week, freight index in the route from Ningbo-Mideast quotes 3492.1 points, having a week-on-week increase of 2.2% compared with last week.

Australia and New Zealand route: The market maintained strong transportation demand, and the supply-demand relationship was severely strained, which drived the rapid increase in spot freight rates. This week, freight index in the route from Ningbo to Australia /New Zealand route quotes 5568.8 points, up by 14.2 % against last week.