Maritime Silk Road Index: Overall Demand Continues to Rise, Freight Rates Increase on Most Routes.

This week, the Ningbo Containerized Freight Index (NCFI), part of the Maritime Silk Road Index released by the Ningbo Shipping Exchange, closed at 1174.0 points, up 7.2% from last week. Among the 21 shipping routes, freight rate indices increased on 17 routes, decreased on 3 routes, and remained largely flat on 1 route. Among the major ports along the Maritime Silk Road, freight rate indices rose at 9 ports, fell at 6 ports, and remained largely unchanged at 1 port. Key route index developments for this reporting period are as follows:

• Europe & Mediterranean Routes: Market cargo volume was relatively high, with shipping lines announcing freight rate increases for early January 2026. Rising shipment activity further tightened space availability, leading to higher freight rates.

  • The Europe route index stood at 1144.4 points, up 7.2% from last week.

  • The East Mediterranean route index was 1650.9 points, up 19.0% from last week.

  • The West Mediterranean route index was 2053.9 points, up 16.5% from last week.

• North America Routes: Overall transport demand was limited, but shipping lines reduced route capacity, leading to stable or slightly rising freight rates.

  • The East America route index was 1065.7 points, up 2.3% from last week.

  • The West America route index was 1254.9 points, up 2.2% from last week.

• Middle East Routes: Freight rates remained at relatively high levels in the previous period, but insufficient growth momentum on the demand side led to only a slight increase in rates.

  • The Middle East route index was 1505.8 points, up 1.0% from last week.

• South Africa Routes: Significant volatility was observed this week. After multiple rounds of reductions, freight rates had fallen to low levels earlier. Market shipments improved, and shipping lines imposed peak season surcharges, resulting in a substantial rise in freight rates.

  • The South Africa route index was 1742.4 points, up 15.9% from last week.

Changes in freight rate indices for major ports along the Maritime Silk Road are as follows:

• ASEAN Region: This week, freight rate indices increased at 1 port, decreased at 4 ports, and remained largely flat at 1 port.

  • Ningbo (China)–Singapore (Singapore): down 1.8% month-on-month.

  • Ningbo (China)–Port Klang (Malaysia): largely unchanged month-on-month.

  • Ningbo (China)–Ho Chi Minh City (Vietnam): down 15.3% month-on-month.

  • Ningbo (China)–Bangkok (Thailand): down 7.3% month-on-month.

  • Ningbo (China)–Laem Chabang (Thailand): down 9.3% month-on-month.

  • Ningbo (China)–Manila (Philippines): up 2.6% month-on-month.

• Europe Region:

  • Ningbo (China)–Constanta (Romania): up 24.4% month-on-month.

• South Asia Region: This week, freight rate indices decreased at 2 ports.

  • Ningbo (China)–Nhava Sheva (India): down 2.8% month-on-month.

  • Ningbo (China)–Pipavav (India): down 5.5% month-on-month.

• West Asia Region: This week, freight rate indices increased at 5 ports.

  • Ningbo (China)–Istanbul (Turkey): up 17.4% month-on-month.

  • Ningbo (China)–Aqaba (Jordan): up 11.2% month-on-month.

  • Ningbo (China)–Jeddah (Saudi Arabia): up 14.2% month-on-month.

  • Ningbo (China)–Dammam (Saudi Arabia): up 1.2% month-on-month.

  • Ningbo (China)–Dubai (UAE): up 0.7% month-on-month.

• North Africa Region:

  • Ningbo (China)–Sokhna (Egypt): up 12.7% month-on-month.

• Northeast Asia Region:

  • Ningbo (China)–Novosibirsk (Russia): up 17.8% month-on-month.