Ningbo Containerized Freight Index Weekly Commentary

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Credits: Celal Gunes/Anadolu Agency

Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) quotes 755.3 points, slightly up by 16.2% against last week, says an article published on Xindemarinenews.

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Selected twenty-one routes

Meanwhile, fifteen of the selected twenty-one routes maintain an upward trend while other four have fallen and two keeps steady.

In addition, according to the freight indices of the primary ports along the Maritime Silk Road, eight ports appear a constant rising tendency while other eight are declining.

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Freight index 

Europe and Mediterranean routes: The carriers collectively raise the freight rates for the voyages starting in August, and the freight rates for the European routes rise sharply. Among them, the weekly increase in freight rates on European routes is the largest since 2019. This week, freight index in the route from Ningbo-Europe quotes 724.7 points, increasing 56.9% from one week ago. Freight indices in the routes from Ningbo to East Mediterranean and West Mediterranean quote 829.2 points and 980.9 points, growing by 18.8% and rising by 20.7% against last week respectively.

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Traditional peak season

North America route: The market has entered the traditional peak season, and with the support of increasing freight demand and carriers actively regulating the available capacity in the market, the freight rate of routes has risen sharply after August. This week, freight indices in the routes from Ningbo to East America and West America quote 1035.5 points and 1158.7 points, increasing by 12.7% and climbing by 15.2% from one week ago respectively.

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Market booking price

Mideast route: The relationship between supply and demand in the market has not improved, and the spot market booking price has been slightly lowered this week. This week, freight index in the route from Ningbo-Mideast quotes 533.4 points, down by 1.3% compared with last week.

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Market increased

Australia& New Zealand route: The volume of cargo shipped in the market increased, and the space on the route was tight in early August.

The carriers pushed up the freight rate, and the booking price in the spot market rose sharply. This week, freight index in the route from Ningbo to Australia /New Zealand route quotes 529.7 points, up by 26.7% against last week.

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Source: Xindemarinenews