The supply-demand relationship was basically stable, and the freight rate of the route had risen and fallen divergently
Ningbo Containerized Freight Index: In the week ending Oct-22, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4025.3 points, slightly falling by 0.1% against last week. Meanwhile, twelve of the selected twenty-one routes maintain an upward trend while other nine 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 while other eleven are declining.
Europe and Mediterranean routes: The fundamentals of shipping routes supply and demand fluctuated smoothly, some shipping spaces were slightly tight, and the market freight rates trend was basically stable. This week, freight index in the route from Ningbo-Europe quotes 5707.2 points, down by 0.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4326.2 points and 5503.9 points, growing by 0.9% and having a decrease of 2.3% against last week respectively.
North America route: The serious stagnation of ships at the port of destination led to poor transportation turnover, the shipping capacity of the route was not fully released, and the supply of space was still tight. Therefore, the market freight rates rose slightly. This week, freight indices in the routes from Ningbo to East America and West America quote 2918.3 points and 4247.8 points, increasing by 0.4% and climbing by 1.4% from one week ago respectively.
Mideast route: Affected by the delays of some shipping schedules, the inventory capacity had been reduced, the fundamentals of supply and demand had stabilized, and the overall market freight rate was stable. This week, freight index in the route from Ningbo-Mideast quotes 3422.9 points, down by 0.8% compared with last week.
Red Sea route: Shipments had decreased, and the market volume had not been able to fill the existing capacity. Most carriers demanded the goods, and the market freight rate continued to fall. This week, freight index in the route from Ningbo to Red Sea route quotes 4351.4 points, falling by 4.9% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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