Maritime Silk Road Index: Shipping companies raise Middle East freight rates, overall index slightly decreases.

This week, the Ningbo Export Container Freight Index of the Maritime Silk Road Index released by the Ningbo Shipping Exchange closed at 962.4 points, down 1.1% from the previous week. Among the 21 routes, 6 routes saw an increase in freight rates, 14 routes saw a decrease, and 1 route remained stable. Among the main ports along the "Maritime Silk Road", 11 ports saw an increase in freight rates, 4 ports saw a decrease, and 1 port remained stable. Previous freight rates continued to decline due to high vessel capacity, with shipping companies reducing route capacity, controlling cabin supply below demand, and causing freight rates to rise. The freight index for the Middle East route was 1355.9 points, up 19.5% from the previous week. Market volume has decreased combined with increased capacity, resulting in excess cabin space and an expansion in freight rate declines. Meanwhile, the freight index for the Australia-New Zealand route was 1817.1 points, down 12.7% from the previous week.