Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202237] Freight rates continued their spectacular collapse last week despite the severe port congestion that has built up in North Asia due to Typhoon Muifa, with the SCFI slipping by 33% within the past 4 weeks and down 50% year on year. Vessel utilisation on head haul routes have continued to drop despite shortfalls in ship departures, with carriers lacking resolve to remove excess vessel capacity in the market beyond ad h
Vasi Shipping has launched a new Haiphong Singapore Service (HSS) using the 1,200 teu CAPE FLORES that has just joined Vasi on a 12 month charter at $35,000 per day after ending its previous charter at Rif Line/Kalypso. The HSS started on 13 September 2022 at Haiphong at the Nam Hai Dinh Vu terminal with sailings to be provided every 9-10 days.
Dubai-headquartered Tehama Shipping Services (TSS) has launched the Tehama India Express (TIX) service that connects Jebel Ali, Mundra and Nhava Sheva. The new service was launched on 2 September 2022 at Jebel Ali with sailings every 11-12 days using the 2,764 teu TSS SHAMS. The TSS SHAMS was previously offering ad hoc sailings between the UAE and Western India connecting Jebel Ali, Sharjah, Mundra and Pipavav. TSS is part of Saba Group which operates a container terminal at Iraq’s Umm Qasr So
Interasia is starting a New Japan-South China Service (NST) connecting Tokyo, Yokohama, Nagoya, Nansha, Shekou, Tokyo starting from 9 November with the 990 teu BF PERCH. The service will turn in 2 weeks with a second ship, the 1,008 teu IAL 001 expected to be deployed.
X-Press launched Belawan Straits X-PRESS (BSX) that connects Singapore, Port Klang, Belawan, Singapore on weekly basis with a 610 teu BIENDONG FORTUNE. The service has already been started with BIENDONG FORTUNE at Pork Klang on Sep 14. source: X-Press
AD Ports Group has completed its first international acquisition on 14 September 2022 with the purchase of a 70% stake in the Egyptain company International Associated Cargo Carrier (IACC) which fully owns Transmar International Shipping Company and Transcargo International (TCI). Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa while TCI is a terminal operator and stevedoring company, mainly operating out
Over the last few weeks, the main East West head hauls displayed some concerning signs that utilization are trending down despite of very sharp drop in vessel capacity departed from Far East. These drops might just be short term volatility but in a market that is still debating if a material volume drop may be imminent, the implied in volume drop in the last few weeks that are still within the usual peak season period should be followed by stakeholders in the container liner sector. For most o
Charter rates are weakening as tonnage availability is starting to pick up. In the Bangkok-max sector, the number of vessels available spot (less than 14 days) are at the highest levels in over a year, with rates falling in tandem. SFL was forced to accept a reduced rate of $23,000/day for the 1,740 teu GREEN ACE on a short fixture to Aladin Express after Allseas defaulted on its charter commitment on the ship at short notice. The ship was originally to join Allseas on its Asia-Europe service a
Rates to the USWC have slipped further with the SCFI assessment at $3,484/feu while the CCFI assessment has dropped to 2,195 points. Carriers are continuing to offer lower rates for September bookings with rates of below $3,000/feu already on offer. Rates to the USEC are also coming under pressure, with the SCFI assessment dropping by $551/feu last week. The USEC rates will continue to weaken in the coming weeks as the gap between the WC and EC rates are expected to narrow further, barring any
The after-effects of typhoon Hinnamnor has resulted in a large build up of ships waiting at Shanghai, Ningbo and Busan even though the congestion has started to clear by the end of the week. There has not been any material improvement in the congestion situation at the other main regions.