US port congestion is rising again with worsening delays at US East Coast ports. The vessel queues at East Coast ports has grown to over 630,000 teu.
Global port volumes remain robust in May despite early signs that volume growth has started to slow as rising inventory levels in the US and Europe and slowing consumer spending has resulted in a reduction in new orders from Asia.
MSC is pulling further ahead from Maersk. CMA CGM and Evergreen also gaining market share.
Freight rates remain under pressure with peak season volumes yet to materialise. Rates are expected to remain soft until the end of July when carriers will try to push for a new round of rate increases.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202225] Freight rates remain under pressure with peak season volumes yet to materialise, while easing congestion in China and the US West Coast has also released more capacity to the market. Rates are expected to remain soft until the end of July when carriers will try to push for a new round of rate increases. Congestion is rising in the US East Coast and North Europe but it has not had a material impact on overall capacit
X-Press Feeder launches WSX 2, the second West Coast South America service connecting Balboa, Guayaquil, Balboa. The new service will start on July 3 with 868 teu ship X-PRESS SHANNON.
CMA CGM is launching Turkey North Africa Express 2 (TURAF2) covering Damietta, Marsaxlokk, Casablanca, Damietta on 21-day rotation. The new service will start on June 27 with AS SVENJA calling at Damietta.
Containerships is launching SC Express (SCX) that calls Rotterdam, Teesport, Grangemouth, Rotterdam on weekly basis.
Golden Sea, subsidiary of COSCO, has resumed Yangon Express (YGX) calling Singapore, Xiaochan Beach, Yangon, Singapore. The The service has started with Xiaochan Beach call on June 19 by the 1223 teu AS FENJA.
MSC is launching another independent FE-ECNA service, New Asia-US Gulf Coast and South Atlantic service (Zephyr), connecting Shanghai, Ningbo, Busan, Cristobal, Houston, Port Everglades, Savannah, Lazaro Cardenas, Shanghai.