25.02.07NCFI Fall 1.2% in Week 5

The composite Ningbo Containerized Freight Index (NCFI), which was set at a baseline of 1,000 points in Week 10 of 2012, quoted 1,373.2 points in Week 5, according to the Ningbo Shipping Exchange (NBSE). The index fell 1.2% from the previous week due to many blank sailings after Lunar New Year.

On the selected 21 trade lanes from Ningbo to which the individual NCFIs are applied, seven saw their freight rate indices rise, and the remaining 14 saw theirs fall. As for the major ports along the so-called Maritime Silk Road, four saw their indices increase; 11, decrease; and the remaining one, unchanged.  

On the routes to Europe and the Mediterranean, demand has been so weak since Lunar New Year that spot rates for container exports from Ningbo underwent a mild downward revision. The NCFIs slid 3.7% to 1,393.3 points to Europe, 1.3% to 1,536.4 points to the Eastern Mediterranean and 2%  to 1,970 points to the Western Mediterranean.

On the North America trade, container volumes stayed flat, despite an increase in blank sailings, making spot rates remained unchanged. The NCFIs waned a minute 0.5% to 1,897.8 points to the east coast and 0.5% to 2,321.5 points to the west coast.

On trade lane to the Middle East, container movements levelled off; as such, spot rates picked up very marginally. The NCFI rose 0.4% to 835.5 points. On the route to Thailand and Vietnam, throughput was so limited as to make space supply exceed container demand. Spot rates, as a result, declined, and the NCFI decreased 2.9% to 920 points.