The composite Ningbo Containerized Freight Index (NCFI) jumped 16.1 per cent from the previous week to 1,147.5 points in Week 10, reflecting heightened Red Sea risks. Of the 21 trade lanes tracked by the index, 10 recorded higher freight rates, nine declined, and two remained unchanged. Among major ports along the Maritime Silk Road, nine reported rising indices while seven saw decreases.
Freight rates to Europe and the Mediterranean declined as early March rate hikes by some carriers were offset by continued capacity oversupply. The NCFI Europe route fell 3.1 per cent to 956 points. The Eastern Mediterranean index dropped 8.1 per cent to 1,115.7 points, while the Western Mediterranean route slipped 0.6 per cent to 1,334 points. On transpacific routes, demand lagged while capacity returned to the market, weighing on spot rates.
The Ningbo–US East Coast index fell 3.9 per cent to 908.4 points, and the Ningbo–US West Coast index also moved lower. The overall picture shows that while Red Sea security concerns drove longer-haul rate increases, classic Asia–Europe and Asia–US corridors continued to face rate weakness. The mixed outlook suggests freight markets remain caught between regional risks and capacity dynamics.
Key Takeaways:
1. The composite NCFI rose 16.1 per cent to 1,147.5 points in Week 10.
2. Of 21 lanes, 10 saw rate increases, nine declined, and two were unchanged.
3. The Europe route fell 3.1 per cent to 956 points.
4. Eastern Mediterranean dropped 8.1 per cent and Western Mediterranean slipped 0.6 per cent.
5. Weak demand on transpacific routes pushed spot rates lower.
