Freight futures to North Europe extended their recent losses over the past week, with the main EC2506 contract tumbling by a further 10%. Traders ramped up their short positions on expectations that capacity withdrawn from transpacific routes would soon be redeployed to Asia-Europe lanes. Average daily trading volumes tumbled by 31%, while open interest staged a modest 6% rebound week-on-week. The SCFIS index registered a surprise 7.6% weekly rise on 21 April, but the bounce is likely to be sho
Asia-Europe rates resumed their downward slide as carriers failed to protect the small gains they eked out earlier in April. The SCFI slipped by 2.9% on 18 April but the SCFIS released on 21 April showed a surprising rise of 7.6%. The gain is expected to be reversed next week as spot FAK rates have continued to drop as carriers prepare to shift capacity away from the Transpacific to other tradelanes including Asia-Europe. The only factor keeping capacity in check at the moment is port congestio
Register Free Trial Revised USTR action on Chinese ships eliminates the risk of potential capacity disruptions as all of the onerous terms of the US port fee have been toned down. Over the next 180 days, carriers are expected to swap the affected Chinese built ships out of the US and replace them with fee-exempt ships. Chinese carriers such as COSCO may be able to circumvent the onerous port fees if they withdraw their ships and replace them with slots on fee-exempt ships operated by alliance p
Ocean Silk Line (OSL), an affiliate of OVP Shipping, will launch a new intra-Med service in a partnership with Sidra Line. The service will deploy 3 ships of 500-900 teu that will cover 2 inter-looping services connecting Turkey and Libya:- * Turkey North Africa Express (TNX) / Marmara-Med loop calling at Izmit, Ambarli, Alexandria, Misurata, Benghazi, Rades, Izmit * South Turkey North Africa Express (SNX) / Intra-Med loop calling at Iskenderun, Alexandria, Benghazi, Latakia, Iskenderun OVP/
ONE and Admiral Container Lines have launched a new Adriatic Service 1 (AD1) / Adriatic Eastmed 02 (AEX02) connecting Damietta, Koper, Venice, Ashdod, Damietta from 19 April 2025. The service replaces ONE's former AIB/AD1 service calls at Piraeus and Dekheila dropped. ONE had originally announced the addition of a call at Thessaloniki from April 2025 but this has been dropped as well. The new AD1/AEX02 turns in 14 days using the 1,084 teu SVENDBORG and 990 teu ADMIRAL MOON.
Evergreen and Unifeeder have jointly launched a new Caribbean Sea Regional Service-North (CAN) / Greater Antilles Service connecting Colon, Caucedo, Rio Haina, San Juan, Colon from 9 April 2025. The CAN/Greater Antilles service turns in 14 days and deploys the 3,534 teu SEASPAN FUZHOU from Evergreen and 2,015 teu MED STAR from Unifeeder to provide a dedicated feeder connection between Panama, Dominican Republic and Puerto Rico.
Kawa Shipping has expanded its coverage to the Red Sea, Egypt and Turkey with a new Eastern Mediterranean Express (EMX) service from March 2025. The service is operated irregularly with connections covering Qingdao, Ningbo, Sokhna, Iskenderun, Mersin, Jeddah, Qingdao. The first sailing was made by the 1,063 teu LAN HAI ZHI YUAN that operated an ad hoc Dubai, Sokhna, Iskenderun, Mersin, Jeddah, Qingdao voyage from 2 March 2025. A second voyage by the 2,076 teu KAWA HONGKONG was launched from Qin
ONE will launch a new River Plate Express (RPX) service connecting Rio Grande, Zarate, La Plata, Rio Grande from 8 May 2025 using the 1,155 teu SPIRIT OF DUBAI. The service turns in 7 days and will link the Argentinian ports of Zeate and La Plata with Rio Grande to connect to ONE's FE-ECSA services.
CMA CGM will launch 3 new MAYA Feeder loops in a partnership with X-Press Feeders. The Maya Service 1 (MAYA1)/Mexico Central Americas X-Press (MCX) will call at Balboa, Buenaventura, Puerto Caldera, Balboa from 30 April 2025. The service will turn in 14 days and will deploy 1 ship each from CMA CGM and X-Press Feeders The Maya Service 2 (MAYA2) will call at Buenaventura, Balboa, Corinto, Buenaventura from 25 April 2025. The service will turn in 14 days and will deploy 1 ship of 2,400 teu each
SITC has launched a new China Malaysia Indonesia 2 (CMI2) service connecting Nansha, Shekou, Ho Chi Minh City, Jakarta, Semarang, Balikpapan, Cebu, Nansha from 3 April 2025. The new service retakes the name of the former CMI2 that has been dormant since June 2024 and retains Malaysia in the service name even though Malaysian ports have been dropped from the rotation of all the former versions of the service since 2021. The revamped CMI2 turns in 21 days and deploys 3 ships of 900-1,000 teu star