The transportation demand was lower than expected, and the freight rate of European and American routes fell
Ningbo Containerized Freight Index: In the week ending Jun-17, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3473.6 points, slightly falling by 1.9% against last week. Meanwhile, nine of the selected twenty-one routes maintain an upward trend while other twelve 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 capacity base of European routes was relatively large. Due to the recent gap in the loading rate, some carriers have taken the initiative to reduce freight rates to strengthen cargo collection under pressure, driving the spot price to fall. This week, freight index in the route from Ningbo-Europe quotes 4141.8 points, down by 3.7% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4025.1 points and 4938.3 points, reducing by 1.6% and rising by 1.1% against last week respectively.
North America route: The demand for transportation on the West America route has not improved, the space was obviously surplus, and the decline in the booking price has expanded. This week, freight indices in the routes from Ningbo to East America and West America quote 3404.6 points and 4376.9 points, slipping by 0.9% and dipping by 6.2% from one week ago respectively.
Mideast route: The relationship between supply and demand was generally stable, and some carriers have slightly increased their prices. This week, freight index in the route from Ningbo-Mideast quotes 3323.0 points, having a week-on-week increase of 1.5% compared with last week.
Philippines route: The overall volume of cargo on the route was large, coupled with the reduction of actual available space due to the unstable shipping schedule, and the tight supply side drove the spot price to rise rapidly. This week, freight index in the route from Ningbo to Philippines route quotes 131.7 points, up by 12.6% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
Europe and Mediterranean routes: The capacity base of European routes was relatively large. Due to the recent gap in the loading rate, some carriers have taken the initiative to reduce freight rates to strengthen cargo collection under pressure, driving the spot price to fall. This week, freight index in the route from Ningbo-Europe quotes 4141.8 points, down by 3.7% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4025.1 points and 4938.3 points, reducing by 1.6% and rising by 1.1% against last week respectively.
North America route: The demand for transportation on the West America route has not improved, the space was obviously surplus, and the decline in the booking price has expanded. This week, freight indices in the routes from Ningbo to East America and West America quote 3404.6 points and 4376.9 points, slipping by 0.9% and dipping by 6.2% from one week ago respectively.
Mideast route: The relationship between supply and demand was generally stable, and some carriers have slightly increased their prices. This week, freight index in the route from Ningbo-Mideast quotes 3323.0 points, having a week-on-week increase of 1.5% compared with last week.
Philippines route: The overall volume of cargo on the route was large, coupled with the reduction of actual available space due to the unstable shipping schedule, and the tight supply side drove the spot price to rise rapidly. This week, freight index in the route from Ningbo to Philippines route quotes 131.7 points, up by 12.6% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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