Samskip has added a second vessel to the Samskip Baltic Sea service with the addition of a new call at Klaipeda and shift its UK call from Hull to Immingham from March 2024. The extended Samskip Baltic Sea service will replace the existing Samskip Finland & Latvia service that was first introduced in November 2023. The revised service will call at Immingham, Rotterdam, Helsinki, Riga, Klaipeda, Immingham on a 14 day rotation with 2 ships of 803 teu (JSP RIDER and JSP ROVER). Samskip Baltic Se
The OCEAN Alliance partners (CMA CGM, COSCO, OOCL and Evergreen) have extended their 10 year cooperation agreement that started in April 2017 for 5 more years until 31 March 2032. The move will cement the group’s dominant position as the largest global carrier alliance, with a significant lead over their rival alliances on both the Transpacific and Asia-Europe routes. The move also leaves the remaining members of THE Alliance partners stranded as they will not be able to draw one of the OCEAN A
Medkon and Turkon have launched a new service connecting Turkey with the Red Sea from 3 March 2024. The new service is branded as Red Sea Express Service/Türkiye Red Sea Service (RSX/TRS) respectively by Medkon and Turkon to call at Iskenderun, Mersin, Jeddah, Aqaba, Iskenderun. The service will turn in 2 weeks using 2 ships of 1,100 teu starting with the 1,131 teu LEYLA KALKAVAN on 3 March 2024 followed by the 1,134 teu MEDKON PERLA will start on 13 March 2024.
The freight rate correction gathered pace after carriers failed to defend their pre-Chinese New Year gains with the SCFI shedding 6.2% last week. Although the Red Sea dividend remain in play with spot rates still 96% higher compared to December last year, cargo demand has not rebounded sufficiently after the Chinese New Year holidays to provide rate support with carriers unable to mount a serious 1 March GRI attempt on the transpacific route ahead of the crucial annual contract negotiations. Tr
The CoFiF market shrugged off the 9% drop in the SCFI Asia-North Europe rates last week as the drop was already widely anticipated with forward rates still trading at a discount to spot. The latest SCFIS (Europe) index on 4 March dropped by 3.0% after the previous week’s 9.5% fall with the smaller decline helping to curb further selling in the CoFiF market. With the EC2404 expiration date drawing closer, trading volumes have dropped amidst uncertainty over the extent and speed of further rate
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202410] The freight rate correction gathered pace after carriers failed to defend their pre-Chinese New Year gains with the SCFI shedding 6.2% last week. Although the Red Sea dividend remain in play with spot rates still 96% higher compared to December last year, cargo demand has not rebounded sufficiently after the Chinese New Year holidays to provide rate support with carriers unable to mount a serious 1 March GRI attempt
COSCO and OOCL have added a new Mediterranean Feeder Service (MFS) / Israel West Med (IWM) service with the injection of a ship to Zim's Tyrrhenian Container Line (TYR) service. COSCO has been taking slots on the Zim service since November 2023. The TYR/MFS/IWM calls at Ashdod, Haifa, Fos, Genoa, Salerno, Ashdod and turns in 3 week with 3 ships of 1,100-1,400 teu. COSCO will deploy the 1,223 teu FREDERIK on the service from 13 March 2024 to join Zim's 1,134 teu ASIATIC KING and 1,421 teu NAVI B
Maersk has launched a new HP2 intra-Asia service calling at Busan, Hakata, Shanghai, Ningbo, Kaohsiung, Hong Kong, Haiphong, Danang, Yantian, Hong Kong, Nansha, Kaohsiung, Busan from 29 February 2024. The HP3 service will turn in 3 weeks and deploys 3 ships of 1,757-1,781 teu - the NORDTIGER, CELANDINE and HELGOLAND. Maersk HP2 service rotationThe HP2 service replaces the current PA1 services where the 3 ships were previously deployed. The PA1 called at Busan, Hakata, Moji, Hibiki, Busan, Sha
Evergreen will launch a new North China-Indonesia (NCI) service calling at Xingang, Dalian, Qingdao, Gunsan, Ningbo, Nansha, Ho Chi Minh City, Tanjung Pelepas, Jakarta, Surabaya, Manila (S), Batangas, Hakata, Xingang. The NCI service will start from 29 March 2024 at Nansha with the 1,904 teu EVER CHART. It will turn in 5 weeks using 5 ships of 1,900-2,600 teu to cover 7 different countries in the North Asia to Southeast Asia corridor.
There are basically two freight futures products one being Freightos Baltic's CFFA(container freight forward agreement) being traded at SGX (Singapore Exchange) and CME (Chicago Mercantile Exchange), and INE's CoFIF (container freight index futures). INE (International Energy Exchange) is the exchange that faces offshore traders/users under Shanghai Futures Exchange. Key findings: 1. CoFIF has liquidity while CFFA doesn't. Liquidity is probably 99.9% of the determining factors about whet