Trading in China ended on Thursday this week. Prices of the CoFIF down between 12% and 20% WoW while trading volume rebounded by 1.5 times, finally taking some signals from the physical market where spot rates for FE-NEUR are plummeting as players enter into the bidding season for the 2024 contracts. Open interests rose 55% WoW.
CNC (CMA CGM) will add a new call at Dalian on its Korea China Southeast Asia (KCS) service from 30 September 2023, with the revised rotation calling at Xingang, Dalian, Lianyungang, Qingdao, Singapore, Jakarta, Surabaya, Manila, Xingang. The service turns in 35 days using 5 ships of 4,000-6,000 teu with KMTC, ONE and SITC taking slots.
Akkon has extended its Far East-Med service with a new call at Qingdao from 21 September 2023 to serve the North China market. The revised Far East service will call at Qingdo, Taicang, Ningbo, Nansha, Mundra, Aliaga, Gemlik, Gebze, Ambarli, Mundra, Nhava Sheva, Qingdao on a fortnightly frequency using 4 ships of 1,700-1,900 teu. The Akkon Far East service was first launched in October 2022 and marked the first time that Akkon has ventured outside of its core Med services. Akkon Lines was est
HMM will revamp its Intra-Asia Cross Network (ICN) service with the extension of the service to Indonesia, while splitting the exising Philippines connection to a separate Tianjin to Philippines (TTP) service. The ICN was first launched in May 2022 and replaced its former Korea Vietnam Thailand Express (KVX/KTX) that was jointly operated with KMTC and its standalone Tianjin to Philippines (TTP) service. The initial ICN operates on a two-wing butterfly pattern calling at Busan, Shanghai, Ho Chi
Global containership capacity is growing at an average rate of over 190,000 teu a month since April, after accounting for new ship deliveries and capacity upgrades and deducting scrapped capacity and other deletions. This pace of growth is the fastest rate ever recorded for the container markets and is set to continue for the next 2 years. Compared to the growth spurt in 2006-2008 and 2014-2015, when the average monthly growth rate was just 120,000 teu per month, the current growth burst will
Container volume data for August is still not available, with official Chinese port data delayed yet again. The data from the Ministry of Transport has been delayed by up to 2 weeks since August 2022 with no explanation provided for the late release. The official Chinese port volumes that have been published so far shows a significant divergence in container volume growth at Chinese ports compared to the rest of the world since August 2022. Average volume growth in the last 12 months reached 3.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202339] The early end to the summer peak season has brought the container market back to reality, with the SCFI retesting fresh lows even before September is over. Further rate declines in October will follow despite the reduction in capacity next month with carriers unable to generate any significant cargo roll pools ahead of the Golden Week holidays in China. Severe rate discounting especially on the Asia-Europe route has
Transpacific freight rates have continued to drop, but latest SCFI rates have not fully reflected the current market rates that are already $200-300 lower than reported, with rates to the West Coast reaching $1,500 while the the East Coast market is even weaker with rates as low as $2,000 are being offered. Although THE Alliance have announced the withdrawal of the PN3 service in October, the impact is limited as it only accounts for 3% of total capacity on the West Coast. Carriers have not adj
CMA CGM will add a new Lekki Feeder service that connects Lekki and Cotonou with the 1,736 teu EM HYDRA that will be phased in at Lekki on 15 October 2023.
KMTC will add a new Korea-North China CNS2 service calling at Busan, Ulsan, Kwangyang, Lianyungang, Qingdao, Busan on 7-days round trip with the 1,009 teu SUNNY LILLY starting fom 18 October 2023 at Lianyungang. Namsung is taking slots on the service which it brands as the Busan Lianyungang Qingdao (BLQ). Namsung will add a Busan Shanghai Ningbo (BSN) service calling at Shanghai, Ningbo, Busan, Ulsan, Kwangyang, Shanghai on 7-days round trip with the 907 teu SHECAN from 18 October at Shanghai.