Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202441] The US East Coast dockworkers’ strike ended after the ILA agreed a 61.5% wage hike over 6 years, far in excess of the 32% increase that the ILWU secured for their 2022-2028 US West Coast master contract. Although congestion at East Coast ports surged to their highest levels since 2022 at the end of the 3-day strike, the vessel queue is clearing up quickly after all the affected ports resumed operations on Friday. Wi
SeaLead will introduce a new Mediterranean Gulf Express (MGX) service connecting Jebel Ali, Djibouti, Aliaga, Damietta, Jebel Ali from 19 October 2024. The MGX is expected to turn in 3 weeks and deploy 3 ships of 1,700 teu starting with the 1,725 teu SHUN LONG.
Global Feeder Shipping (GFS) and SeaLead have launched a new Spain Turkiye Morocco (STM) service connecting Ambarli, Gebze, Aliaga, Barcelona, Valencia, Algeciras, Casablanca, Tanger, Valencia, Barcelona, Ambarli. The service will turn in 3 weeks and deploys 3 ships of 1,100 to 1,400 teu starting with the 1,440 teu GFS SAPPHIRE at Ambarli on 20 September 2024, followed by the 1,440 teu CAPE FULMAR and 1,134 teu SSF LILY. Port rotation of the new STM service
Emirates Shipping Line (ESL), Global Feeder Shipping (GFS), KMTC and TS Lines (TSL) will launch a new South China-Middle East Express (SMX/Sirius/AIM3) service calling at Nansha, Dachan Bay, Port Klang, Jebel Ali, Hamad, Nansha from 8 November 2024. The SMX/Sirius/AIM3 will turn in 35 days and deplaus 5 ships of 3,000 to 4,400 teu, starting with the 4,395 teu REN JIAN 27 from KMTC at Nansha on 8 November 2024, following by the 4,395 teu REN JIAN 16 and REN JIAN 19 from ESL, 2,954 teu TS COLOMBO
Maersk will launch a new Northern Star service connecting Shanghai, Hong Kong, Brisbane, Auckland, Nelson, Timaru, Port Chalmers, Napier, Tauranga from 20 October 2024. The Northern Star service will turn in 8 weeks and deploys 8 ships of 2,700 to 3,500 teu starting with the 3,450 teu MAERSK INNOSHIMA at Shanghai on 20 October 2024. Maersk new Northern Star service port rotationFollowing the introduction of the new service, Maersk will revise the rotation of the Southern Star service from 2 No
SeaLead has launched a new Mediterranean Express Service (MES) connecting Turkey and Libya from 4 September 2024. The MES service calls at Ambarli, Izmit, Aliaga, Misurata, Benghazi, Ambarli and turns in 2 weeks using the 1,134 teu MEDKON PERLA and 1,723 teu GREEN HOPE.
The US East Coast port strike has just ended. As of October 1, the container vessel capacity waiting outside the US East Coast and Gulf region amounted to 346,185 TEU. This is one of the key factors contributing to the global container vessel capacity affected by port congestion, which now stands at 2.8 million TEU. No SCFI today (4 Oct) as China is on a week-long holiday, but based on the liners' online quotations, FE-WCNA freight rates was lower since last Friday with Maersk reduced its quota
Charter rates continue to move on 2 different tracks with the larger sizes of over 4,000 teu continuing to power ahead while the rates for the smaller sizes are easing gradually. Carriers are still scrambling to secure all available tonnage in the larger segments with forward deliveries now stretching into 2Q 2025. CMA CGM, COSCO, Hapag-Lloyd and Maersk were the most active carriers with various extensions and forward fixtures concluded in the last 2 weeks. Hapag-Lloyd has taken 4 units of the
EC freight futures traded sharply higher on 30 September with all contracts from December 2024 to August 2025 hitting their 20% maximum daily limit, bringing their weekly gains to 41% to 55%. The US East Coast ports strike is driving the bullish short-term sentiment despite continued weakness on the Asia-Europe freight market as the SCFIS fell by 3.7% on 30 September while the SCFI dropped by 13% last week as carriers continued to slash rates ahead of the October Golden Week holidays. Average E
Spot rates to North Europe and Med dropped sharply last week, with the SCFI falling by 13.2% and 14.0% respectively as carriers continued to slash rates at an aggressive pace. Latest market rates surveyed to North Europe ranged from $2,900/feu to $3,500/feu down from $3,400/feu to $4,200/feu a week ago with the 2M and OCEAN Alliance carriers forced to match the aggressive rate cuts by THE Alliance carriers. Although port congestion remains serious across key Chinese and European ports, this ha