Demand was doldrums,  Composite index drops significantly

 

Ningbo Containerized Freight Index: In the week ending Sep-9, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 1910.9 points, slightly falling by 11.6% against last week. Meanwhile, one of the selected twenty-one routes maintain an upward trend while other twenty 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 sixteen are declining.


Europe and Mediterranean routes: Affected by the large surplus of capacity，space was sufficient. Carriers continues to cut freight rates. This week, freight index in the route from Ningbo-Europe quotes 2692.7 points, down by 7.8% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 2139.3 points and 2652.2 points, reducing by 13.6% and having a decrease of 13.6% against last week respectively.


North America route: Cargo volume was still insufficient, spot rare drops continuously. This week, freight indices in the routes from Ningbo to East America and West America quote 2556.7 points and 1891.9 points, slipping by 9.0% and dipping by 15.8% from one week ago respectively.

Mideast route: Supply-demand relationship was unbalance, trade lane capacity are surplus, freight rate decline. This week, freight index in the route from Ningbo-Mideast quotes 837.6 points, down by 25.6% compared with last week.

Red Sea route: Market performance was relative soft, spot rare decrease significantly. This week, freight index in the route from Ningbo to Red Sea route quotes 1838.4 points, falling by 22.0% against last week.

 

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