The alarmist reports of catastrophic demand drop are unwarranted. The recent weakness in smaller transpacific NVOCC bookings only reflect volume shifts as BCOs are able to book directly. Anyhow, demand has not picked up sufficiently...
The active containership fleet increased slightly over the past week due to the reduction in port congestion, with about 400,000 teu coming out of the congestion queue.
Global port congestion dropped from 13.1% to 11.1% in the past week, due mainly to the fall in Chinese port congestion.
The top 3 ports in the world all reported improved throughput volumes in May, with Shanghai retaining the top spot at 3.4m teu last month for a 10.3% MoM rebound.
Global port volumes are expected to rebound by 1.5% in May compared to April..... Despite the encouraging rebound, overall volumes in May remain 2.8% lower compared to the same period last year.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202223] Transpacific spot freight rates remain under pressure but alarmist reports of catastrophic demand drops are unwarranted. The recent weakness in smaller transpacific NVOCC bookings reflect volume shifts as BCOs are able to book directly at favourable rates with vessel space currently open. The reduction in the LA vessel queue is also freeing up more capacity to the USWC but USEC capacity remains constrained with conge
Qingdao Russia Shuttle will connect Qingdao, Korea and Russia through port rotation, Qingdao, Kwangyang, Busan, Vladivostok, Busan, Kwangyang, Qingdao.
China United is launching new service that connect South China and Philippines with OSG BEAUTEC's call at Nansha on July 2.
MSC launched Adriatic To Turkey, Israel and Eqypt, which will replace the previous Turkey Israel Shuttle with additional call at ports in Italy and Turkey. The serviced started with MSC SHEILA's Ashdod call on Jun 1.
Taiwanese liners' May top line came out flat MoM, again reassuring that impacts during the Shanghai lockdown were minimal for the liners.