Be aware if you have been expecting interest rate cut this year: Ocean freight that may have contributed to a chunk of inflation during 2021-2022 have staged a come back. Looking back the past few years, the correlation between freight-to-cargo ratio and US inflation averaged 74%. The take-off in May 2020 and peak in July 2022 of the two lines coincide with each other while the flooring of the freight-to-cargo ratio led the US inflation by few months. The swing from May 2020 to July 2022 for t
It has been a volatile week in the CoFIF market that saw a limit-down day last Tuesday (9 Jan) and a big rally on Friday (12 Jan). Nevertheless, liquidation in the CoFIF market continued for the 3rd week albeit at slower pace. Open interests in CoFIF peaked on 22 December and have since fallen 69%. Further volatile trading is expected this week after the SCFI’s 8.1% gain on the Asia-North Europe route and the SCFIS which jumped by a further 49.7% on 15 Jan after the previous week’s 70.9% rise.
With the stakes raised amidst heightened risks of retaliatory Houthi attacks on ships in the Red Sea, carriers continue to take radically different approaches to their Suez services. CMA CGM and a handful of niche carriers continue to make Suez transits while all of the other main carriers have shifted to the Cape route. The Asia-Europe trade faces a severe capacity shortage in the coming weeks, with some 70 additional ships required to maintain weekly sailings on the 30 regular services on th
Charter rates continue to rally as carriers raise their tonnage demand in tandem with the rising freight rates on Red Sea and Suez routes which has also spilled over into the Transpacific routes last week. Activity is high across all size segments with clear rate gains across the board apart from the smaller ships below 1,300 teu that continued to weaken. Maersk took the 15,258 teu newbuilding ONE FOCUS, in a private deal with ONE for an unspecified period for deployment on the FE-USWC for its
Global port congestion eased further over the past week, with delays at Chinese ports improving. The intermittent port closures at Ningbo, Shanghai and Qingdao due to weather related reasons have reduced. The delayed arrivals of vessels that were diverted to the Cape route since mid December has also resulted in a lower number of ships at Chinese ports, , resulting in reduced vessel bunching and shorter delays. This has also filtered down to the downstream ports in Asia such as Singapore and Bu
Freight rates surged across the board, with Transpacific SCFI rates rebounding sharply last week. MSC’s rate hike to $5,000/feu to the USWC and $6,900/feu to the USEC from 15 January jolted the rest of the carriers into following suit, with spot rates to both the West Coast and East Coast rising by over 40% last week. Zim has confirmed the introduction of a new PNW string from next week as it seeks to take advantage of the higher transpacific rates rates. SCFI rates made its 8th consecutive we
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202403] With the stakes raised amidst heightened risks of retaliatory Houthi attacks on ships in the Red Sea, carriers continue to take radically different approaches to their Suez services. CMA CGM and a handful of niche carriers continue to make Suez transits while all of the other main carriers have shifted to the Cape route. The capacity shortage arising from the Cape diversions on the Asia-Europe route will require an a
Zim has launched a new ZIM PNW X-Press (ZPX) service that connects Cai Mep, Yantian, Kaohsiung, Xiamen, Ningbo, Shanghai, Vancouver, Busan, Cai Mep starting from 21 January 2024. The new ZPX service will turn in 7 weeks and will initially deploy 5 ships of 2,800-4,200 teu starting with the 2,824 teu GSL VALERIE, 4,253 teu SYNERGY OAKLAND, 3,534 teu BACH and 2 additional ships that have not yet been named. It will operate with 2 blank sailings in each cycle, starting with blanks on 11 February
Maersk has launched a new Panama Colombia feeder calling at Manzanillo, Colon, Barranquilla, Cartagena, Santa Marta, Manzanillo from 15 January 2024 with the geared 1,118 teu CONTSHIP KEY. The new feeder service will replace the existing Cartagena call on the Oceania-USEC OC1 service that is split into 2 separate Pacific and Atlantic loops from January 2024.
Tailwind Shipping has launched a new Moerdijk-Barcelona feeder service with the 804 teu SOLONG deployed since 29 December 2023. The service turns in around 16 days.