The demand for some routes was insufficient, and the composite index continued to decline
Ningbo Containerized Freight Index: In the week ending Jul-1, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 3418.8 points, slightly falling by 0.8% against last week. Meanwhile, eight of the selected twenty-one routes maintain an upward trend while other thirteen have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, seven ports appear a constant rising tendency while other nine are declining.
Europe and Mediterranean routes: There was a gap in the market transportation demand, and the freight rate continued to drop slightly. This week, freight index in the route from Ningbo-Europe quotes 4048.5 points, down by 1.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3812.8 points and 4803.4 points, reducing by 1.6% and having a decrease of 0.4% against last week respectively.
North America route: The market volume was insufficient, and the carriers allowed to canvass more shipping orders, and the market booking price continued to decline. This week, freight indices in the routes from Ningbo to East America and West America quote 3309.9 points and 4215.8 points, slipping by 1.5% and dipping by 1.7% from one week ago respectively.
Mideast route: Some carriers arranged overtime ships to enter the market, the overall capacity of the route was surplus, and the price of spot booking continued to decline. This week, freight index in the route from Ningbo-Mideast quotes 3152.4 points, down by 3.0% compared with last week.
Thailand and Vietnam route: The market volume was obviously insufficient, most carriers demanded goods, and the market freight rate fell rapidly. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 1804.7 points, falling by 13.2% against last week.
Europe and Mediterranean routes: There was a gap in the market transportation demand, and the freight rate continued to drop slightly. This week, freight index in the route from Ningbo-Europe quotes 4048.5 points, down by 1.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 3812.8 points and 4803.4 points, reducing by 1.6% and having a decrease of 0.4% against last week respectively.
North America route: The market volume was insufficient, and the carriers allowed to canvass more shipping orders, and the market booking price continued to decline. This week, freight indices in the routes from Ningbo to East America and West America quote 3309.9 points and 4215.8 points, slipping by 1.5% and dipping by 1.7% from one week ago respectively.
Mideast route: Some carriers arranged overtime ships to enter the market, the overall capacity of the route was surplus, and the price of spot booking continued to decline. This week, freight index in the route from Ningbo-Mideast quotes 3152.4 points, down by 3.0% compared with last week.
Thailand and Vietnam route: The market volume was obviously insufficient, most carriers demanded goods, and the market freight rate fell rapidly. This week, freight index in the route from Ningbo to Thailand& Vietnam route quotes 1804.7 points, falling by 13.2% against last week.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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