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.
China United Lines have introduced a new Red Sea Service (REX) to connect China and Jeddah amidst the on-going Red Sea crisis that has seen a reduction in the number of ships able to serve the Red Sea region. The REX service calls at Qingdao, Shanghai, Ningbo, Nansha, Jeddah, Qingdao with a single 2,786 teu ship (CUL MANILA) deployed since 28 December 2023. The service turns in around 30 to 35 days on a monthly frequency.
MSC has launched a new Ecuador-NWC & Scan Baltic-USA service that merges it existing Ecuador to NWC service with the Scan Baltic to USA service. The new service calls at Klaipeda, Gdynia, Gothenburg, Bremerhaven, Felixstowe, Antwerp, Le Havre, Boston, New York, Philadelphia, Norfolk, Jacksonville, Freeport (Bahamas), Balboa, Guayaquil, Puerto Bolívar, Guayaquil, Cristobal, Moín, Antwerp, Rotterdam, Bremerhaven, Klaipeda and has started from 6 January 2024 from Klaipeda with the 8,819 teu MSC VI
Maersk will split its Oceania-US East Coast OC1 service into 2 different loops covering the Atlantic and Pacific sectors separately. The OC1 Pacific loop will call at Balboa, Tauranga, Sydney, Melbourne, Port Chalmers, Tauranga, Balboa with cargo heading to and from North America transferred to the Panama Canal Railway landbridge for connection on the OC1 Atlantic loop that will call at Manzanillo, Philadelphia, Charleston, Manzanillo. The intermediate call at Cartagena in Colombo will be dro
Option for those wanting to hedge against volatility in container shipping freight rate: CoFIF (Container Freight Index Futures)'s Asia-Europe contracts are trading at something (in $/40'dry) like $2400 for April, $2250 for June, $2147 for August and $1900 for October (our estimates) while liners are offering $3500 for annual contracts while spot rates at the moment is racing up t $5000 or above. Frankly no one know for sure where the freight rates will be in April through October. They could
Unlikely a surprise to the market, liners are reporting sequentially lower 4Q 2023 results, which is in line with CCFI while the QoQ rebound in SCFI will likely only show in the liners' book in 1Q 2024. While the 4Q results may not be pleasing to look at, everything changed since the second half of December. COSCO reported earning alert, OOCL reported top line breakdown while the Taiwanese liners reported their December revenue this week. COSCO alerted 68% QoQ lower earnings during 4Q while O
Chinese ports recorded strong volume gains in November with an aggregate increase of 3.7% compared to the same month last year. Year to date volumes for the first 11 months of the year reached 3.6%, led by strong gains in river ports. A large part of the Chinese port gains are coming from inland water-to-water transshipment volumes which has significantly boosted overall numbers compared to the rest of the world. Shanghai was the first Chinese port to report its full year 2023 performance, wit
Week 1 capacity to North Europe was higher than normal with bunching departures on 2 OCEAN Alliance services (NEU6 and 7) and 1 THE Alliance service (FE2) lifting overall capacity to 344,710 teu compared to an average of 284,180 teu in December. Overall capacity will drop from week 2 onwards with severe shortfalls expected in weeks 5 and 6 when capacity drops to 240,700 an 126,700 teu in those 2 weeks when demand will be strong due to the pre-Chinese New Year cargo rush. Although the weekly cap
CoFIF contracts surged in the first 2 trading days of 2024 and traded limit up to their maximum daily caps before softening in the next 3 trading days as the market awaits further signals from the SCFIS. Traders continue to prefer longer dated contracts, indicating a growing consensus that the Red Sea diversion may drag on. Open interest fell for the 2nd week in a row to just half of the peak on 22 December. This week’s trading will be driven by the latest SCFIS assessment on 8 January for the
The number of containerships that has been diverted from the Suez to the Cape route has reached 354 ships since 15 December 2023, accounting for 80% of all the ships moving between the Atlantic/Med basins and the Indian Ocean. The number will continue to grow over the coming week with most of the main carriers currently opting for the Cape route. Only CMA CGM and a small number of niche carriers operating in the Asia to East Med and Baltic markets that have continued to use the Suez route with r