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Exports from China recorded sequential drop since March

Customs of PRC reported foreign trade figures on 7 Jun, for which the market was negatively surprised by the 7.5% YoY drop in May whereas analysts were expecting just 0.4% decline. But what the market have missed may be more concerning for container shipping, in our view, which is the sequential drop in export since March. Since 2014, Chinese export has always grown sequentially and on average 14% from March through May, an usual seasonal pattern. This year, the Chinese exports fell 10% in t


Market Pulse – 2023 Week24

Register Free Trial [] The SCFI slipped by 4.7% last week on the back of slumping transpacific rates with carriers slashing rates on both the West Coast and East Coast routes, erasing all of the recent GRI gains. The US west coast dock labour dispute remains a distraction with only a minimal impact on vessel operations and latent congestion already easing, while the Panama Canal draft restrictions failed to stop rates from falling on the e


Asyad Line adds Red Sea Express (REX) service

Asyad Line has introduced a new Red Sea Express (REX) service connnecting Nhava Sheva, Mundra, Salalah, Jeddah, Sokhna, Nhava Sheva. The service was launched on 1 May 2023 with the newly chartered 2,782 teu GREGOS and the IRENES RULE.


CNC/CMA CGM to launch North China Booster service

CNC, the intra-Asia subsidiary of CMA CGM, is launching a North China Booster service that connects Dalian, Qingdao, Busan, Kwangyang, Busan, Dalian. The new feeder service  will turn in 7 days using the 1,708 teu CNC BANGKOK that will phase in at Dalian on 30 June 2023.


Imoto Lines receives its largest ship for domestic Japan trade

Imoto Lines has received the first of 3 ships of 1,096 teu for the domestic Japanese trade with the KISO that was delivered on 10 May 2023 by Kyokuyo shipyard, although the first port call was made on 2 June 2023 at Kobe. The ship is deployed on the Yokohama, Tomakomai, Sendai, Yokohama route for its maiden service. Imoto will introduce 2 more sisterships to its domestic feeder routes by the end of this year. These ships are the largest ships in the Imoto, surpassing the 670 teu units that are


Market Pulse – 2023 Week23

Register Free Trial [] Although the SCFI rose by 4.6% on the back of 1 June transpacific rate increases, market sentiment remains poor with the CCFI still sliding and carriers continued to offer discounts with cargo demand still insufficient to support rate hikes. Rates on the Atlantic, Asia-Europe and Australia routes remain under significant pressure, while the recent charter rate rally is starting to soften on the smaller size segments


Main carriers liftings drop for 7th consecutive quarter

Container liftings for main carriers fell 6.8% YoY in 1Q 2023, accelerating from the 6.6% YoY fall in 4Q. All  9 of the main carriers recorded volume reductions, with Zim and Maersk recording the largest drops. The aggregate liftings of the 9 carriers in 1Q 2023 were even lower than the 2Q 2020 level during the first COVID wave. Despite the of the continuous improvement of the vessel turnaround time on the easing of port congestion, liner’s volume yield (liftings per slot) has continued to fall


Containerships upgrade Portugal East Coast (PGEC) service

CMA CGM's Containerships has upgraded its Portugal East Coast (PGEC) with new calls at Bassens (France) and Algeciras (Spain) from 6 June 2023. The revised PGEC rotation will call at Rotterdam, Bassens, Setubal, Algeciras, Setubal, Leixoes, Ferrol, Tilbury, Dunkirk, Antwerp, Vlissingen, Rotterdam on a 21 day rotation using 3 ships - the 962 teu SPICA J, 812 teu VOHBURG and 803 teu JORK RULER.


ASL, CUL & PIL launch South China Vietnam Philippines service

ASEAN Seas Line (ASL), China United Lines (CUL) and Pacific International Lines (PIL) have teamed up to launch a new jointly operated Intra-Asia service calling at Shekou, Nansha, Xiamen, Manila North, Subic Bay, Xiamen, Shekou, Nansha, Ho Chi Minh City, Shekou. The new service is branded respectively by ASL, CUL and PIL as the South China Vietnam Philippines service (SVP), South China Philippines Service (SP1) and China Philippines Vietnam (CPV). It turns in 3 weeks using 3 ships of 1,000-1,2


Zim/GSL switch Kolkata Colombo (GKC) service

Zim and Gold Star Line (GSL) have revised the GSL Kolkata Colombo (GKC) service with the addition of new calls at Chittagong and Kattupalli from May 2023. The revised service has been renamed Kolkata Chittagong Express Shutle (GKC) and calls at Colombo, Chittagong, Kolkata, Kattupalli, Colombo, turning in 21 days using 3 chartered ships of 1,000-1,100 teu (IMKE SCHEPERS, SINAR BANGKA, ASIATIC NEPTUNE).

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