Ningbo Containerized Freight Index Weekly Commentary (9.11-9.17）

2021-09-22 14:55By： xinhua

The market had strong demand for shipping, and freight rates on most routes have risen

Ningbo Containerized Freight Index: In the week ending Sep-17, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 4205.4 points, slightly up by 1.9% against last week. Meanwhile, seventeen of the selected twenty-one routes maintain an upward trend while other four have fallen. In addition, according to the freight indices of the primary ports along the Maritime Silk Road, thirteen ports appear a constant rising tendency while other four are declining.

Europe and Mediterranean routes: The transportation demand in the European-to-land route market was generally stable. Affected by poor ship turnover, shipping schedule delays were more common, and the shipping space on the route was overall tight. Therefore, the market freight rate was in a stable state. This week, freight index in the route from Ningbo-Europe quotes 5938.7 points, increasing 0.4% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 4318.3 points and 5762.4 points, growing by 0.4% and having a decrease of 2.1% against last week respectively.

North America route: The traditional peak season market had maintained a high cargo volume, the East America and West America routes had maintained full load rates, and the market freight rate had risen slightly after the middle of the year. This week, freight indices in the routes from Ningbo to East America and West America quote 2975.7 points and 4222.0 points, increasing by 2.7% and climbing by 3.2% from one week ago respectively.

Mideast route: The situation of blank sailings had improved, the tightness of space had gradually eased, and the spot freight rate had dropped slightly. This week, freight index in the route from Ningbo-Mideast quotes 3867.3 points, down by 2.3% compared with last week.

India and Pakistan route: The shipping capacity of the routes had shrunk severely, and the space gap had pushed the spot freight rate to continue to rise. This week, freight index in the route from Ningbo to India and Pakistan route quotes 7854.3 points, up by 8.4% against last week.