The EC experienced a sell-off this morning following the ceasefire deal in Gaza. While it remains uncertain when the liners will return to the Suez/Red Sea, most EC contracts are already trading at levels not seen since mid-December 2023. There has been no new utilization data since yesterday, and the liner's FAK online quotations have decreased.
EC contracts continued to decline as traders anticipated a ceasefire deal between Israel and Hamas before the end of March. The near-term fundamentals in the physical market are also weak, as the pre-Lunar New Year cargo rush has been insufficient to counter the highest capacity deployment on the Far East to North Europe route in two years, resulting in falling head haul vessel utilization. Liners have continued to slash their online quotations. Traders expressed their bearish outlook, primari
OOIL's fourth-quarter report and the December revenue reports from Taiwanese liners indicate that many liners could experience a quarter-over-quarter revenue drop of between 18% and 25%, potentially resulting in earnings declines of up to 50%. COSCO’s full year profit alert shows a 50% qoq drop in earnings in the 4th quarter.
Longer-dated container freight futures contracts for April to December 2025 fell by 5-12% week-over-week, with the futures market in steep backwardation as freight rates are expected to drop by 55 to 65% below current spot rates for most of 2025. The SCFIS recorded its second successive decline this year, dropping by a further 3.8% after last week’s 3.6% fall. The resolution of the ILA contract negotiations on the US East Coast removed the only potential catalyst for a freight rate rally, with
Asia-North Europe SCFI rates slipped by 14.5% last week, effectively erasing all the gains that carriers have secured in December. Although capacity utilization remains strong, the average capacity on the North Europe route in January remains at a 2 year high as carriers try to hold their volumes ahead of the new alliance reshuffle next month. The OCEAN Alliance’s launch of the new Loop 3 service from April will add up to 5% to overall FE-North Europe capacity, setting the stage for a fresh rou
Port congestion eased slightly last week but remains highly elevated with 8.5% of the global containership fleet waiting at anchorages at the end of last week. The main improvements were seen in Chinese ports but berthing delays persist at the main ports of Shanghai, Ningbo and Qingdao where high cargo volumes and bunching of vessel arrivals continue to keep ports fully occupied in the busy period before the Chinese New Year. European port congestion continues to be elevated with significant de
The OCEAN Alliance carriers will have the largest market share and widest market coverage in 2025 after they unveiled their Day 9 product that will be launched in April this year. 3 additional Alliance services will be added to their existing service network, giving them a dominant position on the Transpacific market with 15 sailings to the West Coast and 8 sailings to the East Coast. It will also have the widest coverage to North Europe with a 7th service to be added, matching MSC’s coverage t
ONE will join CMA CGM, COSCO and OOCL to operate a new Med-US Transatlantic 4 service branded respectively as AT4/Amerigo/MENA/ATM. The service will call at Salerno, La Spezia, Genoa, Vado Ligure, Valencia, Algeciras, New York, Norfolk, Savannah, Miami, Algeciras, Salerno. The new service will replace the existing AL6 that is jointly operated by CMA CGM, COSCO, OOCL and Hapag-Lloyd in a cross-Alliance service that also includes Evergreen, Yang Ming, ONE and Zim. The revised AT4/Amerigo/MENA/AT
The 4 Ocean Alliance partners (CMA CGM, COSC, OOCL and Evergreen) have unveiled their new Day 9 product that will start from April 2025, with the addition of 1 new Asia-North Europe service and 2 new Asia-US West Coast services. Details of the new services as follows * Asia-North Europe Loop 3 (NEU3/AEU3/LL3/NE7) calling at Shanghai, Xiamen, Hong Kong, Yantian, Cai Mep, Singapore, Rotterdam, Hamburg, Zeebrugge, Felixstowe, Port Klang, Shanghai * Asia-Pacific Southwest PSW11 (SEA3/PSX) callin
Register Free Trial Spot freight rates and container freight futures drifted further downwards last week, with the resolution of the ILA contract negotiations on the US East Coast removing the last catalyst for a rate rally before the Chinese New Year. The SCFI recorded its worst weekly performance since October, slipping by 8.6% last week with rates dropping across all tradelanes. Market sentiment has turned negative, with further rate cuts expected in the next 4 weeks. Freight futures are pr