The transportation demand was to be recovered, and the freight rate of most routes fell
Ningbo Containerized Freight Index: In the week ending Mar-11, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3677.7 points, slightly falling by 4.8% against last week. Meanwhile, four of the selected twenty-one routes maintain an upward trend while other seventeen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, five ports appear a constant rising tendency while other eleven are declining.
Europe and Mediterranean routes: The overall cargo volume in the market was not sufficient, and the overall shipping space of the route was obviously surplus. Most carriers increased their efforts to collect cargo, and the market freight rate continued to decline. This week, freight index in the route from Ningbo-Europe quotes 4877.8 points, down by 8.6% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4236.5 points and 5286.8 points, reducing by 4.5% and having a decrease of 3.4% against last week respectively.
North America route: The problem of late and blank sailings caused by the disorder of the shipping schedule has become the support point of the supply and demand relationship in the off-season, and the market freight rate continued to maintain a high level. This week, freight indices in the routes from Ningbo to East America and West America quote 3641.8 points and 5010.8 points, increasing by 0.9% and dipping by 0.7% from one week ago respectively.
Mideast route: The sluggish transportation demand has led to intensified competition among carriers, and the market freight rate has fallen rapidly. This week, freight index in the route from Ningbo-Mideast quotes 2736.4 points, down by 10.5% compared with last week.
Australia and New Zealand route: The recovery of cargo volume was less than expected, and most liner companies chose to reduce prices to demand cargo. This week, freight index in the route from Ningbo to Australia and New Zealand route quotes 5622.4 points, falling by 8.4% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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