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Ningbo Containerized Freight Index Weekly Commentary (10.2-10.8) xinhua 2021-10-12 11:08

Ningbo Containerized Freight Index Weekly Commentary (10.2-10.8)

Ningbo Containerized Freight Index: In the week ending Oct-8, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4092.0 points, slightly falling by 0.5% against last week. Meanwhile, eight of the selected twenty-one routes maintain an upward trend while other eleven have fallen and two keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, nine ports appear a constant rising tendency, six are declining and two maintain the same.
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 5857.0 points, down by 0.0% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4294.3 points and 5560.7 points, reducing by 0.3% and having a decrease of 1.0% 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.

East coast of the South America route: After the holiday, the demand for transportation had dropped, and carriers' request for goods triggered a high drop in freight rates. This week, freight index in the route from Ningbo to East South America quotes 6038.8 points, falling by 12.8% against last week.


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