The erosion in charter rates continue, with further drops expected as the market slips into the traditional cargo slack season in October. Capacity utilisation on all key routes are trending lower and this could kill carriers appetite for further tonnage. SeaLead has chartered its largest ship taking over the 10,114 teu EXPRESS BERLIN from Danaos. COSCO has also received last week the first 7,092 teu newbuilding that it has chartered for 3 years from X-Press Feeders. Russian operators continue
The 1 September rate gains on the transpacific have all but evaporated, with rates to the US East Coast falling sharply with the SCFI assessment registered a 8.4% drop last week. Capacity utilization has dropped on the East Coast with average capacity deployed in September reaching a record high of almost 250,000 teu per week or 12.5% higher compared to August. In contrast, average capacity to the West Coast is 7.4% lower in September, which has only partially stemmed the rate fall. Rates to
The severe weather in North Asia and US East Coast pushed up port congestion numbers last week. Conditions across all of North Asia were affected the onslaught of typhoons Haikui in South China and Khanun in Central and Northern China with waiting times of up to 3 days due to the disruptions to port operations in Hong Kong, Shenzhen, Kaohsiung, Ningbo and Busan. However, the congestion has already started to clear in North Asia by the end of last week with terminals and gate operations all rep
MSC and Zim have announced on 6 September 2023 a new operational cooperation agreement covering the trades between the Indian subcontinent with the East Mediterranean, the East Mediterranean with Northern Europe, and services connecting East Asia with Oceania. The cooperation is expected to be expanded when the current 2M-Zim collaboration is dissolved from January 2025, with MSC poised to further extend its current slot sale agreement with Zim on the Asia-PNW route to cover the Asia-US East Coa
Safeen Feeders has launched a new UAE Pakistan Gulf (UPG) service that connect Abu Dhabi, Dammam, Bahrain, Karachi, Sharjah, Abu Dhabi from 10 September 2023. The service turns in 14 days and deploys the 2,542 teu SAFEEN PRIME and SAFEEN PRIZE.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202337] Container freight rates are dropping at a faster rate than expected with the SCFI slipping below 1,000 again, giving up all of the gains made in the last 7 weeks. Weak peak season volumes coupled with oversupply across the main markets have weighed down heavily on rates with little chance of a reversal until November at the earliest. Carriers inability to curtail supply remains the biggest challenge, as capacity util
MSC has added a Mex Gulf to Central America service through slots on Zim's Central America Gulf Xpress (CGX) that calls at Kingston, Houston, Altamira, Kingston, Moin, Santo Tomas de Castilla, Puerto Cortes, Kingston using 3 ships of 900-1,100 teu. The move follows the announcement of Zim's new operational collaboration agreement with MSC on trades connecting the Indian subcontinent with the East Mediterranean, the East Mediterranean with Northern Europe, and services connecting East Asia with
TS Lines will join Maersk/Sealand Asia on the new IA-10 service that calls at Taichung, Xiamen, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila (North), Taichung. The service turns in 21 days using 3 ships with TS Lines adding the 1,808 teu TS BANGKOK to the service from 20 August 2023, joining the 1,774 teu NORDMAAS and 1,781 teu HELGOLAND from Maersk.
Evergreen will launch a new Thailand-Vietnam-Philippine (TVP) service from 25 September 2023. The service will turn in 28 days using 4 ships of 1,900 teu and call at Hong Kong, Shekou, Nansha, Ho Chi Minh City, Laem Chabang, Haiphong, Kaohsiung, Manila (North Port), Subic Bay, Hong Kong. The 4 ships to be deployed on the initial cycle are the 1,930 teu KANWAY LUCKY and the 1,984 teu trio EVER CLEAR, EVER COPE and EVER CORE. Evergreen TVP service
ONE will launch a new Florida Latin Express (FLX) service from 4 October 2023. The service will turn in 28 days using 4 ships of 1,400-1,700 teu and call at Callao, Paita, Guayaquil, Cartagena, Port Everglades, Puerto Cortes, Cartagena, Callao. The 4 ships will be positioning from Europe and Asia to join the new service, including the 1,436 teu ESSENCE, 1,740 teu HANSA SIEGBURG and the 1,781 teu newbuilding LANGENESS. Florida Latin Express (FLX) service