The longer dated CoFIF contracts rallied last week with traders building long positions after several carriers pushed for another Asia-Europe FAK rate hike in mid-April. Despite continued liquidation, prices for EC2404 contracts that will expire in 2 weeks were unchanged at 2,120 and remains slightly lower than the SCFIS rate at 2,174 last week (before settling slightly lower at 2,172 based on the latest assessment on 8 April). The latest CoFIF rates implies April-August rates that are equivale
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202415] Freight rates to Middle East and Latin America were the main bright spots for carriers, as SCFI recorded its first weekly increase in 2 months. However, the marginal 0.8% rise last week masked weakening market sentiment where both Asia-Europe and Transpacific rates are still under pressure, with some carriers planning another series of FAK rate hikes mid-April to stem the decline. Charter rates remain buoyant with s
MSC has launched the Ingonyama service connecting Coega, East London, Coega on 2 April 2024 with the 1,118 teu MSC TOKATA F. The new service will provide connections at Coega to MSC's global network as an alternative to trucking to East London which is located some 270km away by road.
Unifeeder has added 2 new Venezuela services that will call alternately at Guanta/Guaranao and Maracaibo using 2 ships of 1,100 teu on separate 14 day rotations. The Unifeeder Venezuela service 1 (Guanta/Guaranao) will deploy the 1,118 teu SC PHILLY from 16 April 2024 to call at Cartagena, Manzanillo (Pan), Oranjestad, Willemstad, Guanta/Guaranao (alternate calls), Cartagena. The Unifeeder Venezuela service 2 (Maracaibo) will deploy the 1,118 teu NOAH from 23 April 2024 to call at Cartagena,
Hede Shipping's new transpacific Hede Direct Service (HDS) has completed its 4 ship vessel line-up in order to provide weekly departures from Shanghai to Los Angeles offering an 13-day express transit time. The service started on 21 March 2024 with the 3,426 teu BFAD ATLANTIC, followed 3 more chartered ships joining in succession - the 4,298 teu REN JIAN 10, 1,809 teu ANDROKLIS and 2,782 teu ADONIS.
Global port congestion worsened over the past week with a sharp increase in berthing delays at ports in North Asia and Southeast Asia. Waiting times have increased across all key main port in the Far East including Busan, Ningbo, Shanghai, Singapore and Port Klang where waiting times of up to 3 days have been recorded. There has been no increase in port congestion in the US, with East Coast ports largely unaffected by the shutdown at the port of Baltimore. Cargo has been diverted mostly to Norf
The closure of the port of Baltimore after the 9,962 teu Maersk operated containership DALI struck the Francis Scott Key Bridge on 26 Match 2024 will not have a significant impact on container supply chain in the US. The port of Baltimore handled 1.12m teu of container cargo in 2023, accounting for only 4.5% of the total containers handled at the main ports at the US East Coast. There is sufficient container handling capacity at the neighbouring ports of Norfolk and New York where the cargo aff
China’s Ministry of Transportation (MOT) has stopped the publication of the country’s container port statistics and has replaced it with summary container volume data by provinces only. The publication of full year data has also been delayed, with the latest available data for 2023 provided to November only. The MOT only provided provincial level container handling volumes data for January and February 2024 on 29 March 2024, with overall container volumes rising by 12.1% in the first 2 months o
COSCO reported full report for 4Q 2023 after market on 28 March, which provided further details to the earnings alert already disclosed in January. The unwinding of provisions booked in 2021 and 2022 have continued to help lift COSCO’s earnings in 2023, as COSCO’s unit costs are falling faster than the industry average.
Evergreen Marine Corp (EMC), the Taiwan listed marine arm of the Evergreen Group posted the highest EBIT earnings margin amongst the main container carriers in 4Q 2024, with EBIT operating profits reaching NTD 4.7Bn (US$150m) for an EBIT margin of 6.8%. Full year operating profits reached NTD 34.7 Bn ($1,083m) while net profits hit NTD 35.3 Bn ($1,001m), with the company directors proposing cash dividends to shareholders of NTD 10 per share with a total payout of NTD 21.4 Bn at a dividend payou