The key route index performance for this reporting period is as follows:
Europe-Mediterranean Routes:
Freight rates for European routes have risen, while cargo volumes on Mediterranean routes remain high, with tight space availability leading to significant rate increases.
European route index: 1,024.6 points, up 7.7% week-on-week.
East Mediterranean route index: 1,157.4 points, up 17.4% week-on-week.
West Mediterranean route index: 1,451.9 points, up 22.6% week-on-week.
North American Routes:
Overall cargo volumes are insufficient, with space supply exceeding demand, leading to continued declines in freight rates.
U.S. East Coast route index: 778.9 points, down 3.6% week-on-week.
U.S. West Coast route index: 881.7 points, down 7.8% week-on-week.
Middle East Routes:
With fewer voyage cancellations at the beginning of the month, capacity remains high while demand is insufficient, resulting in stable to slightly declining freight rates.
Middle East route index: 1,134.2 points, down 2.6% week-on-week.
West Coast South America Route (Significant Fluctuations This Week):
The earlier decline in freight rates to low levels effectively stimulated cargo volume growth. Coupled with liner companies' plans to reduce future capacity, space availability has tightened, leading to a sharp rise in rates.
West Coast South America route index: 777.4 points, up 60.4% week-on-week.
Freight Rate Index Changes for Major Ports Along the Maritime Silk Road:
ASEAN Region:
This week, 4 ports saw freight rate index increases, while 2 ports recorded declines.
Ningbo (China) – Singapore (Singapore): up 2.7% week-on-week.
Ningbo (China) – Port Klang (Malaysia): up 2.8% week-on-week.
Ningbo (China) – Ho Chi Minh City (Vietnam): up 5.0% week-on-week.
Ningbo (China) – Bangkok (Thailand): down 1.0% week-on-week.
Ningbo (China) – Laem Chabang (Thailand): down 1.4% week-on-week.
Ningbo (China) – Manila (Philippines): up 1.3% week-on-week.
European Region:
Ningbo (China) – Constanța (Romania): up 13.9% week-on-week.
South Asia Region:
This week, 2 ports recorded freight rate index declines.
Ningbo (China) – Nhava Sheva (India): down 4.4% week-on-week.
Ningbo (China) – Pipavav (India): down 21.9% week-on-week.
West Asia Region:
This week, 2 ports saw freight rate index increases, while 3 ports recorded declines.
Ningbo (China) – Istanbul (Turkey): up 13.7% week-on-week.
Ningbo (China) – Aqaba (Jordan): down 5.6% week-on-week.
Ningbo (China) – Jeddah (Saudi Arabia): down 5.5% week-on-week.
Ningbo (China) – Dammam (Saudi Arabia): up 0.3% week-on-week.
Ningbo (China) – Dubai (UAE): down 4.4% week-on-week.
North Africa Region:
Ningbo (China) – Sokhna (Egypt): down 5.0% week-on-week.
Northeast Asia Region:
Ningbo (China) – Novosibirsk (Russia): up 19.1% week-on-week.
