CMA CGM and X-Press Feeders have launched a new Ceylon Chittagong Service (CBS)/Upper Bay of Bengal - Loop 3 (UBB-Loop3) service connecting Colombo, Chittagong, Colombo from 2 December 2024. The CBS/UBB-Loop3 turns in 14 days using 4 ships of 1,500-1,700 teu with CMA CGM contributing 1 of the 4 ships starting with the 1,714 teu SANTA LOUKIA, whil X-Press Feeders will deploy the 1,577 teu SMOOTH VENTURE together with the 1,756 teu X-PRESS NILWALA and MOUNT CAMERON.
The EC2412 and EC2502 experienced a gap down at the open but have since recovered some of their losses, as EC traders maintain hopes for a freight rate increase this weekend. Contrary to the consensus in the EC market, we believe that the December 1st rate increase is unlikely, as liners are still quoting rates below $4,000 per FEU for shipments departing on November 30. The moving average utilization rate has improved slightly, aided by the fully loaded MADISON MAERSK that departed Tanjung Pel
EC contracts are mostly up 1-3% on thin volume this morning. There are no long buyers, and short sellers are hesitant to place their bets before the imminent release of the SCFI, which is expected after the market closes tomorrow. If the online quotations from the liners are accepted by any shippers, the SCFI is projected to jump by 37% this week (from 2,481 to 3,400). However, we doubt that the SCFI panel, which includes a large group of forwarders from China in addition to the international l
Port congestion is clearing across the board as the global fleet currently tied up at anchorages has dropped below 2.1m TEU from the October peak of 3.0m teu. Ports in North Asia have seen the biggest improvements as they continue to clear out the waiting queue of ships after the recent spate of typhoons that hit the region in the last 2 months. Although delays of up 2 days are reported at several main hubs including Shanghai, Ningbo, Qingdao and Busan, the situation continues to improve with no
EC market range bounce this morning after two consecutive days of sell-offs. Liners are still cutting their target freight rates increase over the past two days that now they are aiming to lift the freight rates to high $5,000 per FEU instead of $6,000 per FEU as previously planned for Far East - North Europe shipments embarking after 1 December. The spot freight rate for shipments embarking this week is about $4,000 per FEU, far from the $5,500 per FEU that the liners planned to achieve. Latest
Market Pulse Week 48: Zim reported net profits of $1.13 Bn and EBIT of $1.24 Bn for the 3rd quarter of 2024, concluding the reporting season for the publicly listed carriers. Zim’s EBIT margin of 44.7% puts it in 4th place behind EMC, HMM and Yang Ming but Zim delivered the highest annualized RoE of 115% in Q3 2024 - twice that of the second-best performer EMC and more than 4 times more than the industry average ROE of 25%. Market Pulse Week 47: Asian carriers have outperformed their European p
Container freight futures for February 2025 contracts came under heavy selling pressure as it hit the maximum daily limit down of 16% on 25 November on high trading volumes due to rising fears of a Middle East ceasefire as container rates are expected to falter further by February due to the post-Lunar New Year slack. The current EC2502 price of 2,722 still suggests freight rates around $4,000 per FEU. The December 2024 contracts continue to be supported by carriers’ planned December rate hikes
The SCFI and SCFIS continues to move in opposite directions for the 3rd straight week with the SCFI continuing to retreat while the SCFIS remains in ascendance. Actual settled rates reflected in the SCFIS are still catching up with the full effects of the initial November rate hike, while carriers’ current quotations in the SCFI reflects the recent rate weakness as carriers scale back from their initial $4,500/feu asking rate to the current benchmark of $4,000/feu. However, the SCFI is expecte
MSC’s sweep of second-hand containership tonnage since 2020 has brought its total resale vessel acquisitions in the last 4 years to more than 420 ships. MSC’s unprecedented acquisition spree has removed more than 17% of the total fleet that are available for charter in the 800 to 15,000 teu size segment and has been a key driver behind the sharp rebound in charter rates this year. The shortage of charter market ships have forced carriers to fix forward for their favoured tonnage with deliveries
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202447] Container freight rates continue to slip with cargo front loading ahead of the new Trump tariffs providing little relief to the market. The US West Coast suffered the sharpest rate drops despite healthy volumes being recorded from Asia as capacity deployed continues to outpace the rise in demand. Carriers are targeting a fresh round of rate hikes in December with support from a rise in cargo volumes ahead of the US t