Maritime Silk Road Index Hits New Low
Mar 24 2016
Guide: This week, the Ningbo Containerized Freight Index (NCFI) of the Maritime Silk Road Index released by the Ningbo Shipping Exchange closed at 281.9 points, down 5.0% from last week.freight quote from china
This week, the Ningbo Containerized Freight Index (NCFI) of the Maritime Silk Road Index released by the Ningbo Shipping Exchange closed at 281.9 points, down 5.0% from last week. Four of the 21 routes index rose, and 17 routes fell. Among the major ports along the "Maritime Silk Road", the freight rates of nine ports increased and the freight rates of 11 ports decreased.
The situation of the index of key routes during the reporting period is as follows:
European routes: The latest data released by the European Bureau of Statistics this week shows that the final value of the CPI in the Eurozone in February was confirmed to decrease by 0.2% year-on-year, and the Eurozone economy still has deflationary pressure. This week's market traffic picked up slightly due to the GRI ’s upward adjustment expectations in April, but the overall class is still quite marginal, and some carriers continue to reduce prices to pick up cargo. This week, the freight rate on the European route dropped by about USD50 / FEU, and the average market load factor was less than 80%. The European route index was 126.5 points, down 11.1% from last week; the east-east route index was 139.0 points, down 2.6% from last week; the west-west route index was 136.2 points, down 10.6% from last week.
North American routes: The US Federal Reserve announced this week that it will keep the federal benchmark interest rate unchanged at 0.25% to 0.5%. At the same time, the Fed also lowered its expectations for US economic growth this year and next. During the Spring Festival, the compressed capacity has been basically released, and there is a gap in market demand. Most carriers choose to continue to adjust the freight rate to maintain the cargo supply. The freight rate of the US-West route dropped about USD50 / FEU this week, and the average market loading rate was about 70%; the freight rate of the US-East route dropped about USD100 / FEU, and the average market loading rate was less than 80%. The US-Western route index was 437.9 points, down 7.6% from last week; the US-East route index was 584.5 points, down 3.8% from last week.
Middle East routes: This week's market traffic has not improved, and airlines have no choice but to shrink their capacity again through temporary suspensions and other means. As a result, the average load factor in the market has increased slightly, and some airliners have tried to increase the freight rate to ease costs pressure. The Middle East Route Index was 216.5 points, up 18.8% from last week.
In addition, the following route market fluctuated greatly this week:
South American routes: The international economy of the destination is still stuck in the mire, which makes it difficult for the market transportation demand to improve, and the market freight rate continues to bottom. The South American East Coast Index was 402.2 points, down 25.0% from last week; the South American West Coast Index was 165.6 points, down 14.2% from last week.
The changes in freight index of major ports along the maritime silk road are as follows:
ASEAN region: This week, a total of 4 port freight rates rose, and 2 port freight rates fell. Among them, the Ningbo (China) -Singapore (Singapore) freight index rose 3.3%, the Ningbo (China)-Klang (Malaysia) index fell 2.2%, and the Ningbo (China)-Ho Chi Minh (Vietnam) freight index fell 0.9%. %, Ningbo (China)-Bangkok (Thailand) freight index rose 3.0% MoM, Ningbo (China)-Lin Chaban (Thailand) freight index rose 4.7% MoM, Ningbo (China)-Manila (Philippines) freight index MoM rose 0.3%.
Europe: The freight index of 3 ports fell this week. Among them, Ningbo (China)-Hamburg (Germany) freight index fell 10.9% MoM, Ningbo (China)-Rotterdam (Netherlands) freight index rose 11.2% MoM, Ningbo (China)-Constanta (Romania) freight rate The index fell 1.4% from the previous month.
South Asia: The freight index of 2 ports fell this week. Among them, the Ningbo (China) -Nawahiwa (India) freight index fell 6.7% from the previous month, and the Ningbo (China) -Pipavavo (India) freight index fell 8.6% from the previous month.
Luya region: This week a total of 2 port freight index rose, 3 port freight index fell. Among them, the freight rate index of Ningbo (China)-Istanbul (Turkey) fell 0.3%, the freight index of Ningbo (China)-Aqaba (Jordan) fell 12.1%, and the freight rate of Ningbo (China)-Jetta (Saudi Arabia) The index fell 16.5% MoM, the Ningbo (China)-Dammam (Saudi Arabia) freight index rose 19.6% MoM, and the Ningbo (China)-Dubai (UAE) freight index rose 18.5% MoM.
North Africa: Ningbo (China)-Socona (Egypt) freight index fell 16.2% MoM.
Northeast Asia: Freight rates for three ports rose this week. Among them, the freight index of Ningbo (China) -Ilyevsk (Ukraine) rose 25.8% month-on-month, the freight index of Ningbo (China)-Odessa (Ukraine) rose 6.6% month-on-month, and Ningbo (China)-Novosibirsk (Russia) The freight index rose 4.2% from the previous month.
This week, the Ningbo Containerized Freight Index (NCFI) of the Maritime Silk Road Index released by the Ningbo Shipping Exchange closed at 281.9 points, down 5.0% from last week. Four of the 21 routes index rose, and 17 routes fell. Among the major ports along the "Maritime Silk Road", the freight rates of nine ports increased and the freight rates of 11 ports decreased.
The situation of the index of key routes during the reporting period is as follows:
European routes: The latest data released by the European Bureau of Statistics this week shows that the final value of the CPI in the Eurozone in February was confirmed to decrease by 0.2% year-on-year, and the Eurozone economy still has deflationary pressure. This week's market traffic picked up slightly due to the GRI ’s upward adjustment expectations in April, but the overall class is still quite marginal, and some carriers continue to reduce prices to pick up cargo. This week, the freight rate on the European route dropped by about USD50 / FEU, and the average market load factor was less than 80%. The European route index was 126.5 points, down 11.1% from last week; the east-east route index was 139.0 points, down 2.6% from last week; the west-west route index was 136.2 points, down 10.6% from last week.
North American routes: The US Federal Reserve announced this week that it will keep the federal benchmark interest rate unchanged at 0.25% to 0.5%. At the same time, the Fed also lowered its expectations for US economic growth this year and next. During the Spring Festival, the compressed capacity has been basically released, and there is a gap in market demand. Most carriers choose to continue to adjust the freight rate to maintain the cargo supply. The freight rate of the US-West route dropped about USD50 / FEU this week, and the average market loading rate was about 70%; the freight rate of the US-East route dropped about USD100 / FEU, and the average market loading rate was less than 80%. The US-Western route index was 437.9 points, down 7.6% from last week; the US-East route index was 584.5 points, down 3.8% from last week.
Middle East routes: This week's market traffic has not improved, and airlines have no choice but to shrink their capacity again through temporary suspensions and other means. As a result, the average load factor in the market has increased slightly, and some airliners have tried to increase the freight rate to ease costs pressure. The Middle East Route Index was 216.5 points, up 18.8% from last week.
In addition, the following route market fluctuated greatly this week:
South American routes: The international economy of the destination is still stuck in the mire, which makes it difficult for the market transportation demand to improve, and the market freight rate continues to bottom. The South American East Coast Index was 402.2 points, down 25.0% from last week; the South American West Coast Index was 165.6 points, down 14.2% from last week.
The changes in freight index of major ports along the maritime silk road are as follows:
ASEAN region: This week, a total of 4 port freight rates rose, and 2 port freight rates fell. Among them, the Ningbo (China) -Singapore (Singapore) freight index rose 3.3%, the Ningbo (China)-Klang (Malaysia) index fell 2.2%, and the Ningbo (China)-Ho Chi Minh (Vietnam) freight index fell 0.9%. %, Ningbo (China)-Bangkok (Thailand) freight index rose 3.0% MoM, Ningbo (China)-Lin Chaban (Thailand) freight index rose 4.7% MoM, Ningbo (China)-Manila (Philippines) freight index MoM rose 0.3%.
Europe: The freight index of 3 ports fell this week. Among them, Ningbo (China)-Hamburg (Germany) freight index fell 10.9% MoM, Ningbo (China)-Rotterdam (Netherlands) freight index rose 11.2% MoM, Ningbo (China)-Constanta (Romania) freight rate The index fell 1.4% from the previous month.
South Asia: The freight index of 2 ports fell this week. Among them, the Ningbo (China) -Nawahiwa (India) freight index fell 6.7% from the previous month, and the Ningbo (China) -Pipavavo (India) freight index fell 8.6% from the previous month.
Luya region: This week a total of 2 port freight index rose, 3 port freight index fell. Among them, the freight rate index of Ningbo (China)-Istanbul (Turkey) fell 0.3%, the freight index of Ningbo (China)-Aqaba (Jordan) fell 12.1%, and the freight rate of Ningbo (China)-Jetta (Saudi Arabia) The index fell 16.5% MoM, the Ningbo (China)-Dammam (Saudi Arabia) freight index rose 19.6% MoM, and the Ningbo (China)-Dubai (UAE) freight index rose 18.5% MoM.
North Africa: Ningbo (China)-Socona (Egypt) freight index fell 16.2% MoM.
Northeast Asia: Freight rates for three ports rose this week. Among them, the freight index of Ningbo (China) -Ilyevsk (Ukraine) rose 25.8% month-on-month, the freight index of Ningbo (China)-Odessa (Ukraine) rose 6.6% month-on-month, and Ningbo (China)-Novosibirsk (Russia) The freight index rose 4.2% from the previous month.
