The market volume gradually picked up, the composite index rose slightly
Ningbo Containerized Freight Index: In the week ending Apr-2, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 2138.2 points, slightly up by 4.8% against last week. Meanwhile, eighteen of the selected twenty-one routes maintain an upward trend while other two have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, twelve ports appear a constant rising tendency,four are declining and one maintains the same.
Europe and Mediterranean routes: Transportation demand continued to recover, and the space of the European-to-land routes continued to be tight. The carriers collectively pushed up the freight rates for the European routes to open in April, and the Mediterranean routes rose slightly. This week, freight index in the route from Ningbo-Europe quotes 2914.9 points, increasing 4.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2342.2 points and 2965.1 points, growing by 0.5% and rising by 0.6% against last week respectively.
North America route: Shipping schedule delays and container return difficulties caused by congestion at the destination port continued to affect the market. The overall space of North American routes was tight, and freight rates remained high. This week, freight indices in the routes from Ningbo to East America and West America quote 1753.5 points and 2334.1 points, slipping by 5.4% and climbing by 0.1% from one week ago respectively.
Europe and Mediterranean routes: Transportation demand continued to recover, and the space of the European-to-land routes continued to be tight. The carriers collectively pushed up the freight rates for the European routes to open in April, and the Mediterranean routes rose slightly. This week, freight index in the route from Ningbo-Europe quotes 2914.9 points, increasing 4.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2342.2 points and 2965.1 points, growing by 0.5% and rising by 0.6% against last week respectively.
North America route: Shipping schedule delays and container return difficulties caused by congestion at the destination port continued to affect the market. The overall space of North American routes was tight, and freight rates remained high. This week, freight indices in the routes from Ningbo to East America and West America quote 1753.5 points and 2334.1 points, slipping by 5.4% and climbing by 0.1% from one week ago respectively.
Mideast route: As Ramadan was approaching, transportation demand was growing rapidly, the loading rate of the route had rebounded significantly compared with the previous period, and freight rates rebounded sharply. This week, freight index in the route from Ningbo-Mideast quotes 1881.5 points, having a week-on-week increase of 35.3% compared with last week.
Red Sea route: Under the suspension measures, the supply of market capacity was limited. Shippers arranged centralized shipments before Ramadan, and several voyages had broken cabins. Carriers continued to significantly increase freight rates. This week, freight index in the route from Ningbo to Red Sea route quotes 2176.9 points, up by 40.9% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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