Some routes cut prices to stock up, and the composite index began to fall
Ningbo Containerized Freight Index: In the week ending Oct-1, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4112.4 points, slightly falling by 1.3% 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, one ports appear a constant rising tendency while other sixteen are declining.
Europe and Mediterranean routes: In the last week before the Chinese National Day, almost voyages on European-to-land routes were fully loaded, and some carriers strengthened the delivery of goods for voyages during and after the festival. The market freight rate dropped slightly. This week, freight index in the route from Ningbo-Europe quotes 5859.2 points, down by 1.3% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4306.3 points and 5618.7 points, reducing by 0.2% and having a decrease of 1.2% against last week respectively.
North America route: The pre-holiday route loading rate had basically reached full load, and the market freight rate was generally stable. This week, freight indices in the routes from Ningbo to East America and West America quote 2920.6 points and 4143.7 points, slipping by 0.8% and dipping by 0.7% from one week ago respectively.
Mideast route: The carriers stocked up for the voyage after the holiday, which led to a fall in market freight rates. This week, freight index in the route from Ningbo-Mideast quotes 3721.1 points, down by 4.4% compared with last week.
Red Sea route: The voyages have basically resumed before the holiday. Compared with the previous period, the space was more generous, and the spot freight rate had dropped from the high level. This week, freight index in the route from Ningbo to Red Sea route quotes 5113.4 points, falling by 5.8% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
Europe and Mediterranean routes: In the last week before the Chinese National Day, almost voyages on European-to-land routes were fully loaded, and some carriers strengthened the delivery of goods for voyages during and after the festival. The market freight rate dropped slightly. This week, freight index in the route from Ningbo-Europe quotes 5859.2 points, down by 1.3% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4306.3 points and 5618.7 points, reducing by 0.2% and having a decrease of 1.2% against last week respectively.
North America route: The pre-holiday route loading rate had basically reached full load, and the market freight rate was generally stable. This week, freight indices in the routes from Ningbo to East America and West America quote 2920.6 points and 4143.7 points, slipping by 0.8% and dipping by 0.7% from one week ago respectively.
Mideast route: The carriers stocked up for the voyage after the holiday, which led to a fall in market freight rates. This week, freight index in the route from Ningbo-Mideast quotes 3721.1 points, down by 4.4% compared with last week.
Red Sea route: The voyages have basically resumed before the holiday. Compared with the previous period, the space was more generous, and the spot freight rate had dropped from the high level. This week, freight index in the route from Ningbo to Red Sea route quotes 5113.4 points, falling by 5.8% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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