EC main contracts are down this morning, as data released over the past few days does not support an imminent 50% increase in freight rates for the FE-North Europe route. Since our last Daily CoFIF on November 22, 2024, liners have been reducing their online quotations. While utilization for alliance services remains high at 97%, consistent with the year-to-date average, the overall average utilization has been trending downward after reaching a recent peak last week.
ONE will launch a new Scandinavia Express (SCX) service connecting Rotterdam, Gothenburg, Helsingborg, Aarhus, Copenhagen, Antwerp, Rotterdam from 19 December 2024. The SCX will turn in 2 weeks with the 1,440 teu CAPE FERROL and 1,781 teu LANGENESS.
ONE will launch a new Levant Express (LEX) service connecting London Gateway, Rotterdam, Hamburg, Antwerp, Alexandria, Damietta, Mersin, London Gateway from 13 January 2025. The LEX service willl turn in 4 weeks using 4 ships of 2,600-2,800 teu starting with the 2,741 teu LORRAINE at London Gateway on 13 January 2025.
SeaLead has launched a new Dubai-Kenya (DUKE) service connecting Karachi, Jebel Ali, Mombasa, Karachi from 4 November 2024. The service will turn in 2-3 weeks and will deploy 2 ships initially starting with the 1,118 teu CONTSHIP UNO and DEVON.
While the moving average utilization for vessels departing from the Far East remains high, the AE55's MSC TESSA, which departed yesterday, registered only 91% utilization—7 percentage points below the moving average. Far East - North Europe Head Haul Vessel UtilizationSince our last Daily CoFIF on November 14, the liners have reduced their quotes for November shipments while increasing their quotes for December shipments, which does not inspire much confidence in the December 1 GRI.
The longer dated EC contracts expiring after February 2025 have recovered most of their losses in the previous week as hopes for an early end to the Gaza conflict has diminished following the hawkish statements from Israel and increased strikes against targets in Gaza and Lebanon. The short-dated contracts for December 2024 and February 2025 largely held their ground despite increased scepticism over the carriers’ ability to push through additional rate hikes in December after their failure to
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202447] The rush to bring forward US imports ahead of the imminent Trump tariffs and potential strike on the US East Coast has so far failed to raise Transpacific freight rates. Rates to the West Coast slipped by 12% last week, even with more than a dozen ships stuck outside Canadian ports as carriers continued to slash rates as capacity utilisation has dropped to their lowest level this year. Although cargo demand remains s
Dubai based Feeder Lines has launched a new Feeder Asian XPress (FAX) service that will provide ad hoc connections between Port Klang, Colombo, Mundra, Jebel Ali, Karachi, Chittagong, Belawan, Port Klang. The service will operate on an irregular schedule with the 2,070 teu YUAN XIANG FA ZHAN that joined the service at Port Klang on 8 October 2024. The ship called at Chittagong on 10 November 2024, marking the first direct container service to connect Pakistan and Bangladesh.
Hede Shipping has revised the rotation of its Hede US West Coast Direct Express 2 (HEX2) service to call at Huanghua, Shanghai, Los Angeles, Huanghua from 17 November 2024, with the former call at Ningbo dropped. The HEX2 is the first transpacific service to call at Huanghua in Hebei province in Northeastern China. The HEX2 currently deploys 5 ships of 1,700 to 2,800 teu, with a 6th ship expected to be added as the HEX2 rotation will increase from 35 days to 42 days.
FESCO has launched a new FESCO Black Sea service connecting Nansha, Rizhao, Ningbo, Shanghai, Novorossiysk, Nansha from 19 November 2024. The service will tun in 8 weeks and will initially deploy a single ship - the 1,660 teu HT JOURNEY with a second ship scheduled to join the service in February 2024.