In the week ending January 3, the Ningbo Containerized Freight Index (NCFI), issued by the Ningbo Shipping Exchange (NBSE), stood at 1840.2 points, a slight increase of 3.0% from the previous week. Among the twenty-one selected routes, eight showed an upward trend, twelve declined, and one remained steady. Additionally, five ports along the Maritime Silk Road showed a consistent rise in freight indices, while nine declined, and two maintained the same level, reports Xinde Marine News.
Europe and Mediterranean Routes
At the beginning of the month, liner companies arranged more vessel schedules, lowered freight rates, and strengthened cargo collection. The freight index for the Ningbo-Europe route was 1973.2 points, down by 4.2% compared to the previous week. Freight indices for the routes from Ningbo to East Mediterranean and West Mediterranean were 1847.6 points and 2361.1 points, reducing by 3.0% and 2.3% respectively.
North America Route
Due to tight shipping space and some blank sailings, freight rates have increased significantly. The freight indices for the routes from Ningbo to East America and West America were 2177.2 points and 3016.3 points, marking increases of 10.1% and 21.8%, respectively, from the previous week.
Mideast Route
Market volume remains strong, with supply and demand gradually balancing due to an increase in shipping capacity. The freight index for the Ningbo-Mideast route was 1256.3 points, reflecting a 2.9% increase week-on-week.
Australia & New Zealand Route
On most services, vessel capacity is sufficient, leading to supply exceeding demand and a drop in freight rates. The freight index for the Ningbo-Australia/New Zealand route stood at 3338.5 points, up by 0.7% compared to last week.
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Source: Xinde Marine News
