Maritime Silk Road Index: Release of Previously Accumulated Shipping Capacity Leads to Rate Decline Due to Insufficient Demand This Week

Glonghui, July 17｜This week, the Maritime Silk Road Index: Ningbo Export Container Freight Index (NCFI) released by Ningbo Shipping Exchange closed at 2262.3 points, down 5.8% from the previous week. Among the 21 routes, freight indices rose on 3 routes, fell on 16 routes, and remained basically unchanged on 2 routes. Among major ports along the "Maritime Silk Road" regions, freight indices rose at 7 ports, fell at 8 ports, and remained basically unchanged at 1 port. The Europe route freight index was 2173.3 points, down 7.4% from last week; the East Mediterranean route freight index was 2078.7 points, down 7.8% from last week. The US East Coast route freight index was 2860.7 points, down 2.0% from last week. The Middle East route freight index was 3720.8 points, up 2.8% from last week.