Ningbo Containerized Freight Index Weekly Commentary
The overall market situation was weak, and the composite index continued to adjust
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 increase 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 offseason, 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.
