News
The Ningbo Containerized Freight Index (NCFI), compiled by the Ningbo Shipping Exchange (NBSE) and promoted by the Baltic Exchange, increased 2.4% from the previous week to 952.3 points in Week 19 as transport demand increased across the board.
On the selected 21 trade lanes from Ningbo to which the individual NCFIs are applied, 10 saw their freight rate indices rise, and the remaining 11 saw theirs fall. As for the major ports along the so-called Maritime Silk Road, four witnessed their indices increase; six, decrease; and the remaining one, nearly unchanged.
On the Europe and Mediterranean trades, supply and demand were so balanced that spot rates only fluctuated within a narrow range. The individual NCFIs stood at 756.8 points to Europe, down 0.9%; 958.7 points to the Eastern Mediterranean, down 0.4%; and 1,270.6 points to the Western Mediterranean, up 0.9%.
On the North America route, shipping lines continued to control capacity although container movements were limited, resulting in stable spot rates. The NCFIs slid 0.2% to 1,197.6 points to the east Coast and 0.4% to 1,471.9 points to the west coast.
On the trade lane to the Middle East, demand picked up after remaining on the decline until Week 18, making the NCFI jump 20% to 952 points.
On the trade to the east coast of South America, some carriers announced freight rate adjustments in the latter half of last week at a time when rates remained weak, which triggered spot rates to jump. The NCFI surged 50.6% to 1,060.6 points.
