There were few new shipment sources after the festival, and some routes had excess space
Ningbo Containerized Freight Index: In the week ending Feb-18, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4059.3 points, slightly falling by 0.1% against last week. Meanwhile, eight of the selected twenty-one routes maintain an upward trend while other twelve have fallen and one keeps steady. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, four ports appear a constant rising tendency,eleven are declining and two maintain the same.
Europe and Mediterranean routes: There were some blank sailings on the Europe and Mediterranean route, and the freight rate was generally stable. Some carriers slightly lowered the market freight rate of this route. This week, freight index in the route from Ningbo-Europe quotes 5588.7 points, down by 0.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4475.5 points and 5620.1 points, growing by 0.2% and rising by 0.3% against last week respectively.
North America route: Some carriers increased the freight rates of routes, which led to a slight increase in freight rates. Therefore, the North America route basically maintained the original freight rate. This week, freight indices in the routes from Ningbo to East America and West America quote 3636.8 points and 5081.1 points, increasing by 3.9% and climbing by 4.8% from one week ago respectively.
Mideast route: Insufficient freight demand resulted in remaining space, and the freight rate of the route dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 3257.3 points, down by 5.2% compared with last week.
Singapore& Malaysia route: The demand for freight was difficult to meet the supply of capacity, and there was sufficient cargo space in the market. Therefore, the freight rate of the route dropped sharply. This week, freight index in the route from Ningbo to Singapore& Malaysia route quotes 3303.8 points, falling by 12.0% against last week.
Europe and Mediterranean routes: There were some blank sailings on the Europe and Mediterranean route, and the freight rate was generally stable. Some carriers slightly lowered the market freight rate of this route. This week, freight index in the route from Ningbo-Europe quotes 5588.7 points, down by 0.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4475.5 points and 5620.1 points, growing by 0.2% and rising by 0.3% against last week respectively.
North America route: Some carriers increased the freight rates of routes, which led to a slight increase in freight rates. Therefore, the North America route basically maintained the original freight rate. This week, freight indices in the routes from Ningbo to East America and West America quote 3636.8 points and 5081.1 points, increasing by 3.9% and climbing by 4.8% from one week ago respectively.
Mideast route: Insufficient freight demand resulted in remaining space, and the freight rate of the route dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 3257.3 points, down by 5.2% compared with last week.
Singapore& Malaysia route: The demand for freight was difficult to meet the supply of capacity, and there was sufficient cargo space in the market. Therefore, the freight rate of the route dropped sharply. This week, freight index in the route from Ningbo to Singapore& Malaysia route quotes 3303.8 points, falling by 12.0% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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