TS Lines has revised the port rotation of its self-operated Asia West Coast 2 (AWC2) service from October 2024 to call at Xiamen, Nansha, Shekou, Yantian, Los Angeles, Xiamen. The revised AWC2 replaces the previous AWC2 rotation that called irregularly at Nansha, Xiamen, Los Angeles, Nansha with ad hoc calls at Hong Kong, Kaohsiung and Busan. The service currently deploys 4 ships of 1,700 teu on a 42 day rotation with 2 skipped sailings in the cycle.
Kawa Shipping and Zhejiang Seaport Logistics Group have launched a new China-Europe Express (CEX) service connecting Ningbo, Wilhelmshaven, Ningbo from 29 December 2024. The CEX service will offer a 26 day transit time between China and Germany which is currently the fastest service on this route as it will use the Suez Canal while all the other services are on the Cape route. The maiden sailing started with the 2,496 teu KAWA NINGBO that departed from Ningbo on 30 December and is scheduled to
CMA CGM will add a new Odessa Express (ODX) service connecting Piraeus, Odeassa, Ambarli, Piraeus from 24 January 2025. The ODX service turn in 14 days and will deploy 2 ships of 1,100-1,500 teu starting with the 1,118 teu LILA CANADA at Piraeus on 24 January followed by the 1,550 teu TJ ORHAN on 31 January.
EC2502 broke below 2200 this morning as Maersk has lowered its quotations for shipments departing in the second half of January to below $4,000 per FEU, prompting other liners to reduce their online FAK rates. As of yesterday (January 2), the latest utilization rates remain high, though the peak may have been reached on December 22, 2024. January's average weekly capacity, which is up 17% month-over-month, may be too high for Maersk to believe that liners will be able to achieve further freigh
Hapag-Lloyd will launch a new Vietnam Cambodia (VCS) service connecting Sihanoukville, Cai Mep, Haiphong, Yantian, Shekou, Sihanoukville from 18 January 2025. The service will turn in 14 days using 2 newbuildings of 1,930 teu that Hapag-Lloyd has taken on 2 year charters from Reederei Nord starting with the NORDATLANTIC at Sihanoukville on 18 January 2025 followed by the NORDBALTIC on 25 January 2025.
2024 has been turned out to be a highly profitable year for charter owners with the Linerlytica charter rate index up 160% year over year at the end of December. The 4,200 teu panamax segment registered the largest gains over the last 12 months, with a YoY gain of 211%. Although demand has been very strong for all ship sizes of over 4,000 teu, there were limited numbers of open ships in the larger segments above 5,000 teu that were available to take advantage of the increased demand. The longer
Global port congestion worsened over the Christmas holidays with high traffic volumes, poor weather conditions, port labour issues and capacity constraints causing a surge in berthing delays at ports in Europe, North America and certain parts of Asia. The total capacity waiting at anchorages worldwide rose to a 2 year high of 10.8% on 26 December before easing to 8.6% at the end of last week. European ports continue to witness high congestion levels with Antwerp, Hamburg, Rotterdam, London Gate
A total of 471 containerships for 2.94m teu have been delivered in 2024, setting a new annual delivery record. Only 67 ships for 93,475 teu were deleted so far this year, for a net supply growth rate of 10.1% for the full year. Supply growth will be a lot more muted in the next 2 years at 5.5% and 3.7% respectively for 2025 and 2026 with the pace of new ship deliveries slowing down sharply.
The settlement price for EC2412 ended higher than expected with the last 2024 SCFIS assessment on 30 December coming in 4.4% higher than a week before, bringing the final settlement to 3,445 which was 1.5% above the closing price of 3,396. Despite the stronger finish in December, EC futures for 2025 traded lower over the past week, with the main contract for EC2502 falling 13% week-over-week on lower daily volumes. Traders shrugged off the SCFI North Europe rebound on 27 December, as attention
Asia-North Europe rates largely held their ground in the last week of December before the next rate hike attempt in January. SCFI rates to North Europe reversed 3 consecutive weekly declines with a small 0.5% gain while the SCFIS rebounded by 4.4% to erase all of its previous week’s losses. The strong rate environment at the end to the year has helped carriers push ahead with a better outcome on their 2025 annual contract negotiations, with contract rates ranging from $2,500 to $3,5000/feu whic