Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202417] The SCFI recorded its 3rd straight weekly gain last week and while the recent rate increases have been meagre, it will set the stage for a series of larger rate hikes in May that carriers have just announced. Capacity utilisation is tightening across all main trades on stronger market demand, which will aid carriers’ GRI efforts. Although new vessel deliveries continue at pace, the capacity shortage due to vessel div
Evergreen will revamp its transpacific-Middle East Transpacific Northwest Service (TPN) and Transpacific Arabian Service (TPA) from May 2024, with the Middle East calls on the current TPA service shifted to the TPN which will be renamed as the Asia-Northwest-Persian Gulf (ANP) service. The ANP service will call at Dammam, Umm Qasr, Jebel Ali, Port Klang, Laem Chabang, Cai Mep, Kaohsiung, Yantian, Shanghai, Ningbo, Tacoma, Vancouver, Tokyo, Nagoya, Osaka, Shanghai, Ningbo, Kaohsiung, Shekou, Por
COSCO has joined CNC, the intra-Asia arm of CMA CGM, on the China Philippines 8 (CP8) service from 13 April 2024. COSCO will deploy 3,314 teu COLOMBO on the service to join the 2,782 teu CNC SERVAL on the service. The CP8 turns in 2 weeks and calls at Shanghai, Ningbo, Xiamen, Manila ( North and South), Fuzhou, Shanghai.
6 carriers on the Asia-East Coast South America trade (CMA CGM, COSCO, OOCL, Evergreen, PIL and Yang Ming) will upgrade their 2 existing strings from May 2024, with average weekly capacity to rise from 21,300 teu to 24,000 teu. The first string branded as SEAS2/ESA2/TLA2/ESA3/SSA/SA5 by CMA CGM, COSCO, OOCL, Evergreen, PIL and Yang Ming respectively will call at Xingang, Qingdao, Shanghai, Ningbo, Shekou, Singapore, Rio de Janeiro, Santos, Paranagua, Itapoa, Navegantes, Santos, Colombo, Singapo
COSCO will launch a new Qinzhou-Thailand Service (QTS) calling at Laem Chabang, Qinzhou, Nansha, Shekou, Laem Chabang. The service will turn in 2 weeks and deploys 2 Bangkokmax ships starting with the 1,717 teu OLYMPIA at Laem Chabang on 23 April 2024. Qinzhou-Thailand Service (QTS) Port rotation
MSC has started to redirect ships chartered from Israeli-linked owners from the Persian Gulf following the seizure of the 14,952 teu MSC ARIES by Iranian special forces on 13 April 2024. According to a statement from MSC on 17 April, the carrier is in discussions with Iranian authorities to secure the release of the 25 crew members on the MSC ARIES and for cargo on board the ship to be discharged. Several ships that were due to enter the Persian Gulf has already been redirected, with details a
Port congestion returned at Chinese ports in the past week with berthing delays across all major regions across the Bohai, Yangtze and Pearl River delta ports. Vessel bunching and poor weather conditions has resulted in longer waiting times at Qingdao, Ningbo and Shanghai with delays of up to 2 days. Southeast Asia ports has also seen increased congestion with Singapore, Tanjung Pelepas and Port Klang experiencing delays of 1-2 days. US ports remain largely unaffected by the suspension of oper
The seizure of the 14,952 teu MSC ARIES by Iranian special forces on 13 April 2024 off Fujairah has placed heightened risks on Israeli-linked containerships trading in the Strait of Hormuz. However, the Israeli owned fleet accounts for less than 2% of all containerships in the Persian Gulf and their redeployment to other routes is not expected to cause significant disruptions to the trade, barring a full blockade of the Strait of Hormuz if the Israeli conflict escalates. Out of over 500 contain
Maersk has relaunched its China-US East Coast TP20 service on 21 April 2024 calling at Qingdao, Shanghai, Yantian, New York, Houston, Qingdao with an additional US port call at Baltimore to be inserted once the port re-opens. The TP20 will turn in 12 weeks using up to 12 ships of 3,400-5,400 teu starting on 21 April with the 4,256 teu LISA. The new service replaces Maerk's US East Coast extra loader service that provided regular FE-USEC connections on flexible rotations since June 2023.
Asia-North Europe freight futures rallied on 15 April with longer dated CoFIF contracts (covering June 2024 to February 2025) recording strong double digit % gain. Traders are building long positions with the escalation in the Middle East conflict expected to extend the Suez diversions. The extended voyages have kept Asia-North Europe capacity in check, with effective capacity falling by 3% YoY in spite of the additional 23% capacity that has been deployed on the route. Although carriers failed