Europe Contracts (EC) saw an increase of 3-10% during the morning session, with 47,174 contracts traded. EC2502 emerged as the main contract by volume, rising by 10% today following MSC's announcement to raise the FE-NEUR freight rate for the second half of November shipments to $5,500 per FEU. ONE also increased its quotations for the second half of November to $5,000 per FEU, up from $4,600 per FEU quoted yesterday. The CMA CGM CHAMPS ELYSEES departed yesterday (October 31) at 101% utilizatio
Futures contracts were mostly up by 2-5% in the morning session, with just 33,474 contracts traded in half a day, compared to an average daily volume of about 100,000 in October. Regarding freight rate quotations, HMM increased its rates for early November shipments from $4,100 to $4,300 per FEU, while OOCL reduced its rates from $4,300-4,400 per FEU to $4,100-4,200 per FEU. There were no new departures between October 29 and October 30 for updated utilization data.
The EC2412 dropped to a low of 2,900 at the open yesterday (29 October) and then continued to recover as traders digested the conflicting freight rate quotations from different liners. Average utilization continued to improve as shippers rushed to send out their shipments ahead of the general rate increase scheduled for November 1, this Friday. On October 28, four ships departed Singapore for Northern Europe with over 96% utilization. Over the past two days, online quotations from the liners
Shanghai-North Europe freight futures slipped marginally by 1-2% at the start of the week with doubts emerging over the sustainability of the 1 November rate hike. The SCFIS index finally ended its 13-week losing streak with settled rates to North Europe holding up by 0.1% on 28 October just ahead of the planned 1 November rate increase while the SCFI pre-empted the increase on Friday with a 14% week-over-week rebound. Although the SCFIS is set to rise next week on the back of the November hike
The SCFI assessment to North Europe jumped by 14.2% last week ahead of the planned 1 November rate hike but actual rates are still weak with the CCFI dropping by 6.4% while the SCFIS barely held out for a 0.1% rise after 13 consecutive weeks of declines that have seen the settled index slump by 65% since July. Although the SCFI is expected to post another hefty increase this week, cracks are already appearing on the carriers’ resolve to push through the 1 Nov rate hike, with several carriers al
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202443] Maersk and Hapag-Lloyd’s increased their full year profit guidance on the back of stronger than expected 3Q performance, but their operating margins continue to lag behind their Asian peers who are expected to post superior EBIT margins when final 3Q numbers are released starting with ONE later this week. The improved earnings outlook failed to lift TS Line’s IPO’s price with the company’s shares to start trading in
SCFI Europe rebounded by 14% week-over-week after the market closed last Friday (October 25). This increase may have been anticipated by EC traders, as EC2412 was only up by 1.9% during intermission this morning. Average utilization continued to improve. Since the last Daily CoFIF on October 25, two more ships have departed: OCEAN's NEU6's EVER ALOT left Singapore with 98% utilization, while 2M AE7's MAERSK HORSBURGH departed Tanjung Pelepas with 91% utilization. Average freight rates quoted o
Messina Line has launched a new Tunisia Line container service connecting Genoa, Tunis (Rades), Genoa with the newly chartered 700 teu EMILIA from 28 October 2024. The service will turn in 7 days and will complement Messina's existing roro services between Italy and Tunisia.
PIL has introduced a China Calcutta Service (CCS) connecting Xiamen, Shekou, Singapore, Kolkata, Singapore, Xiamen from 2 July 2024. The service turns in 3 weeks and deploys 3 geared ships of the KOTA R class - the 777 teu KOTA RATA and KOTA RUKUN, together with the 851 teu KOTA RAKYAT. The service currently provides the only direct connection between China and Kolkata.
ONE and Yang Ming will introduce a new Aegean Express/North Europe-Aegean Express (AEX/NEA) service calling at London Gateway, Antwerp, Rotterdam, Piraeus, Istanbul, Gebze, Gemlik, Aliaga, Piraeus, London Gateway to provide enhanced connections between North Europe and the Med. The service will be officially launched on 4 January 2025, but ONE will begin to offer the service from 10 November 2024 with the 1,084 teu SVENDBORG at Antwerp. The service will turn in 4 weeks and will deploy 4 ships o