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Companies

Unifeeder acquires MCL Feeder Services

Unifeeder has acquired MCL Feeder Services on 1 January 2024 and will combine MCL's feeder operations in the Mediterranean area into the Unifeeder/Unimed network. MCL is based in Cyprus and operates feeder services in the Mediterranean. It was part of the Metz Group that was established in 1982 in Beirut, Lebanon and had cooperated previously with various feeder operators with slot arrangements with Unimed(UFS), Sealand, Mahoney, Medkon and Bahari.

Markets

Charter Market Continued to Heat Up

Demand for vessels remain strong ahead of the Chinese New Year holidays with charter rates continuing to firm up across all size sectors. COSCO has been particularly active in recent weeks, with renewals on existing charters while taking on additional fixtures including a few deals for delivery taking place only in the 2nd half of 2024. COSCO renewed 2 sets of 8,000 teu and 9,000 teu units from Seamax and Costamare respectively on firm rates for 2 years and have been linked to 2 more deals for 6

Markets

Capacity deployed on Asia-Europe routes at all-time high

Total containership capacity deployed on Asia to Europe routes have surged to a record high of 6.44m teu, up 23.3% compared to the same time last year. The surge is due entirely to diversion from the Suez to the Cape route since December 2023, with over 700,000 teu of additional capacity added to the trade in the last 2 months alone. 55% of the additional capacity has been absorbed in the FE-Med trades where transit times have increased by 10 days to the West Med and 18 days to the East Med whil

Services

Maersk launch ME8 for Middle East and Europe connections via Cape of Good Hope

Maersk will launch a new ME8 service calling at Doha, Dammam, Jubail, Jebel Ali, Abu Dhabi, Duqm, Tanger, Port Said, Barcelona, Tanger, Algeciras, Salalah, Jebel Ali, Doha using the longer route via the Cape of Good Hope. The first sailing will be made on 14 February 2024 with the 9,034 teu SAN CLEMENTE on the westbound voyage at Doha while the 4,253 teu CONSTATINOS P II will make the first eastbound voyage at Port Said on 17 February. The service will turn in 13 weeks on an extended rotation

Services

Hapag-Lloyd & Norsul launch joint venture Norcoast cabotage service in Brazil

The new Norcoast cabotage service in Brazil was launched on 6 February 2024 at Santos. The Norcoast service will connect Santos, Paranagua, Suape, Pecem, Manaus, Pecem, Suape, Santos using a total of 4 ships starting with the NC BRISA on 6 February, NC BRUMA on 13 February, NC BREDA from 20 February and the NC BRAVO from 27 February. The 4 ships were all former NileDutch ships of 3,508 teu built in 2014/2015 that were taken over by Hapag-Lloyd in 2021. These ships have been reflagged to the Braz

Companies

King Ocean Services acquire Seacor Island Lines

King Ocean Services have completed the acquisition of Seacor Island Lines on 1 February 2024. Seacor Island Lines was established as G&G Shipping in 1990 by the partners Mike Grandonico and Steve Ganoe. G&G launched a regular shipping service from Fort Lauderdale to the Bahamas in 1992 and grew it to provide freight services from South Florida to all ports in the Bahamas and the Turks & Caicos using landing crafts that could handle roro and container cargo.  The company was acquired by SEACOR

MarketPulse

Market Pulse 2024 Week 06

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202406] Freight rates remain firm as the market entered the last week before the Lunar New Year holidays, led by transpacific rate hikes on 1 February that pushed rates to the US West Coast 267% higher than the same period last year. The Red Sea diversions have absorbed all of the excess capacity in the market, with the supply of vessel space and box equipment expected to remain tight in the next 2 months. Although the marke

Services

Unifeeder adds Latin America feeder offering to connect Panama with Colombia

Unifeeder has launched a second Latin America feeder service connecting Panama and Colombia with the 1,118 teu NOAH assigned to the new service from 3 February 2024. The Panama-Colombia feeder will call at Manzanillo, Turbo, Cartagena, Barranquilla, Santa Marta, Cartagena, Manzanillo on a weekly basis. The new service will complement the Hispaniola-Puerto Rico service that was launched in March 2023. The service connects Caucedo, Port au Prince, San Juan, Caucedo with the 1,100 teu CONTSHIP DON

Services

Milaha adds Upper Gulf Express (UGX) service

Milaha has launched a new Upper Gulf Express (UGX) service connecting Sohar, Jebel Ali, Hamad, Dammam, Shuwaikh, Umm Qasr, Sohar from 20 January 2024. The service turns in 2 weeks and deploys the 1,015 OSHAIRIJ and AL RUMEILA.

Services

Tailwind revamp Panda Express (PAX) and launch Dolphin Express (DEX/DEX2) feeder services

Tailwind Shipping has launched 2 new feeder services dubbed as the Dolphin Express (DEX) and Dolphin Express 2 (DEX2) from the end of January 2024. DEX will call at Barcelona, Antwerp, Barcelona with the 804 teu SOLONG from 27 December 2024 and DEX2 will call at Barcelona, Moerdijk, Barcelona with the 1,118 teu WILHELMINE from 26 January 2024 together with the 917 teu FAITH (to be replaced by the 1,267 teu CONTSHIP JET on 11 February 2024). The 2 feeders will provide connections at Barcelona

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