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Markets

Charter Rates Rallying Too

Charter rates continue to rally as carriers raise their tonnage demand in tandem with the rising freight rates on Red Sea and Suez routes which has also spilled over into the Transpacific routes last week. Activity is high across all size segments with clear rate gains across the board apart from the smaller ships below 1,300 teu that continued to weaken. Maersk took the 15,258 teu newbuilding ONE FOCUS, in a private deal with ONE for an unspecified period for deployment on the FE-USWC for its

Port Congestion

Diversion Delayed Arrivals Eased Port Congestion For Now

Global port congestion eased further over the past week, with delays at Chinese ports improving. The intermittent port closures at Ningbo, Shanghai and Qingdao due to weather related reasons have reduced. The delayed arrivals of vessels that were diverted to the Cape route since mid December has also resulted in a lower number of ships at Chinese ports, , resulting in reduced vessel bunching and shorter delays. This has also filtered down to the downstream ports in Asia such as Singapore and Bu

Markets

Spot Rate Rally Continues, Windfall for Liners

Freight rates surged across the board, with Transpacific SCFI rates rebounding sharply last week. MSC’s rate hike to $5,000/feu to the USWC and $6,900/feu to the USEC from 15 January jolted the rest of the carriers into following suit, with spot rates to both the West Coast and East Coast rising by over 40% last week. Zim has confirmed the introduction of a new PNW string from next week as it seeks to take advantage of the higher transpacific rates rates. SCFI rates made its 8th consecutive we

MarketPulse

Market Pulse 2024 Week 03

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202403] With the stakes raised amidst heightened risks of retaliatory Houthi attacks on ships in the Red Sea, carriers continue to take radically different approaches to their Suez services. CMA CGM and a handful of niche carriers continue to make Suez transits while all of the other main carriers have shifted to the Cape route. The capacity shortage arising from the Cape diversions on the Asia-Europe route will require an a

Services

ZIM PNW X-Press (ZPX) launched

Zim has launched a new ZIM PNW X-Press (ZPX) service that connects Cai Mep, Yantian, Kaohsiung, Xiamen, Ningbo, Shanghai, Vancouver, Busan, Cai Mep starting from 21 January 2024. The new ZPX service will turn in 7 weeks and will initially deploy 5 ships of 2,800-4,200 teu starting with the 2,824 teu GSL VALERIE, 4,253 teu SYNERGY OAKLAND, 3,534 teu BACH and 2 additional ships that have not yet been named. It will operate with 2 blank sailings in each cycle, starting with blanks on 11 February

Services

Maersk launches Panama-Colombia feeder

Maersk has launched a new Panama Colombia feeder calling at Manzanillo, Colon, Barranquilla, Cartagena, Santa Marta, Manzanillo from 15 January 2024 with the geared 1,118 teu CONTSHIP KEY. The new feeder service will replace the existing Cartagena call on the Oceania-USEC OC1 service that is split into 2 separate Pacific and Atlantic loops from January 2024.

Services

Tailwind adds Moerdijk-Barcelona feeder

Tailwind Shipping has launched a new Moerdijk-Barcelona feeder service with the 804 teu SOLONG deployed since 29 December 2023. The service turns in around 16 days.

Services

CUL adds Red Sea Service (REX)

China United Lines have introduced a new Red Sea Service (REX) to connect China and Jeddah amidst the on-going Red Sea crisis that has seen a reduction in the number of ships able to serve the Red Sea region. The REX service calls at Qingdao, Shanghai, Ningbo, Nansha, Jeddah, Qingdao with a single 2,786 teu ship (CUL MANILA) deployed since 28 December 2023. The service turns in around 30 to 35 days on a monthly frequency.

Services

MSC merges Scan Baltic-USA and Ecuador-NWC service

MSC has launched a new Ecuador-NWC & Scan Baltic-USA service that merges it existing Ecuador to NWC service with the Scan Baltic to USA service. The new service calls at Klaipeda, Gdynia, Gothenburg, Bremerhaven, Felixstowe, Antwerp, Le Havre, Boston, New York, Philadelphia, Norfolk, Jacksonville, Freeport (Bahamas), Balboa, Guayaquil, Puerto Bolívar, Guayaquil, Cristobal, Moín, Antwerp, Rotterdam, Bremerhaven, Klaipeda and has started from 6 January 2024 from Klaipeda with the 8,819 teu MSC VI

Services

Maersk splits OC1 to use Panama Canal Railway landbridge

Maersk will split its Oceania-US East Coast OC1 service into 2 different loops covering the Atlantic and Pacific sectors separately. The OC1 Pacific loop will call at Balboa, Tauranga, Sydney, Melbourne, Port Chalmers, Tauranga, Balboa with cargo heading to and from North America transferred to the Panama Canal Railway landbridge for connection on the OC1 Atlantic loop that will call at Manzanillo, Philadelphia, Charleston, Manzanillo. The intermediate call at Cartagena in Colombo will be dro

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