All News

Charter

Charter Rates Continued to Decline

Charter rates continued to slide for the smaller sizes, with prompt tonnage readily available in the 1,100 and 1,800 teu segments with a number of newbuildings due in the next 3 months still uncommitted, while sublet candidates have increased. Zim in particular has been actively reducing its charter commitments, through both sublets and charter terminations. 2 ships have already left in July, with several more to be redelivered in the coming month. Activity in the larger sizes is still limited,

Services

MSC deepens Russia network with new St Petersburg feeder links with China

MSC has increased its exposure to the Russian market with a new China to St Petersburg relay service via Klaipeda and Antwerp. With a total capacity of over 8,000 teu per week, MSC has further solidified its position as the largest carrier in the Russia Baltic market that it has maintained despite the ongoing European Union sanctions against Russia. MSC has deployed the 4,112 teu MSC VAISHNAVI R. on the Klaipeda-St Petersburg feeder service since 27 May 2023 with the frequency improved in July

Services

ONE upgrades Israel Shuttle Service (ILX) with new Adriatic Israel Butterfly (AIB) loop

ONE will replace its current Israel Shuttle Service (ILX) with a new Adriatic Israel Butterfly (AIB) loop from August 2023. The existing ILX called at Damietta, Haifa, Ashdod, Damietta using the 1,118 teu MITO that will be transferred to the new AIB from 13 August 2023. The AIB will call at Damietta, Koper, Trieste, Venice, Ancona, Piraeus, Alexandra, Damietta, Haifa, Ashdod, Damietta. It will turn in 3 weeks using 3 ships of 1,000-1,200 teu.

Services

ONE and Unifeeder upgrades MIM/MJI service to Mozambique

ONE and Unifeeder (Feedertech) will upgrade their jointly operated Mozambique India Middle East (MIM)/Mozambique Jebel Ali India (MJI) service with the addition of a new call at Beira from 27 August 2023, and Nhava Sheva from 19 September 2023. The revised MIM/MJI port rotation will be Jebel Ali, Mundra, Nhava Sheva, Mombasa, Beira, Maputo, Jebel Ali. The service turns in 35 days and currently deploys 3 ships of 1,700-2,000 teu with departures every 7 to 14 days.

Port Congestion

Dockworker Strike in Canada's Pacific Coast Ports Set to End

The on-off dockworker strike in Canada’s Pacific coast ports is expected to finally end after the ILWU Canada caucus approved the tentative deal on 21 July, with the results of its membership vote expected by 28 July 2023. Port operations have resumed on 19 July, but the vessel backlog remains to be cleared with 10 containerships still waiting at Vancouver and 2 ships at Prince Rupert with vessel waiting times of up to 14 days. Congestion at the rest of North American ports are largely checked

Markets

Spot rates continue to diverge between TP and AE

Transpacific rates are holding steady after the 15 July rate increase, backed by the strong capacity utilization rates with bookings stretching out 3 to 4 weeks forward. Carriers are pushing ahead with the 1 Aug rate hike, which would bring rates to the US West Coast over $2,000/feu for the first time since October 2022. The rate rebound is expected to last through mid-August on the back of the strong vessel utilization with minimal capacity additions in the coming weeks. Asia-Europe rates we

Markets

Russian container trade volumes rebound

Total container volumes handled at Russian ports rebounded sharply in the 2nd quarter of 2023 with a 33% yoy gain despite the ongoing sanctions against Russia. Far East gateway volumes through Vladivostok, Vostochny and Nakhodka grew by 39%, while volumes handled at the Black Sea gateway of Novorossiysk increased by 40%. Although the Baltic gateways of St Petersburg, Ust-Luga and Kaliningrad rebounded strongly by 25% compared to a year ago, total Baltic volumes remain at less than half of their

MarketPulse

Market Pulse – 2023 Week 30

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202330] While global attention is focussed on Russia’s renewed blockade of Ukrainian ports in the Black Sea, container volumes at Russia’s own ports have rebounded sharply, drawing in over 200,000 teu of incremental containership capacity since the end of last year. The strong Russian demand has been one of the few bright spots for the container shipping market this year, with over-capacity driving down freight rates across

Services

Sealand Asia to launch IA11 intra-Asia string

Sealand Asia, the intra-Asia regional carrier of Maersk, will launch a new weekly IA11 service connecting Taiwan, East China and Vietnam in August. The IA11 service turns in 2 weeks and will call at Shanghai, Ningbo, Kaohsiung, Ho Chi Minh City, Kaohsiung, Shanghai from 19 August 2023 with the 1,060 teu PADIAN 2 and followed a week later by the 1,114 teu CONTSHIP WAY at Shanghai. The Sealand Asia brand will be integrated into the Maersk brand over the course of 2023, with the process already s

SeaLead

SeaLead extends India-Red Sea WARM service to Turkey

SeaLead has extended the West Asia-Red Sea WARM service to Turkey starting from 21 July 2023. The revised WARM service will call at Nhava Sheva, Mundra, Kandla, Damietta, Ambarli, Damietta, Jeddah, Nhava Sheva. The service will turn in 35 days using up to 5 ships of 1,400-2,o00 teu. The service was first introduced in March 2023 and called irregularly at Nhava Sheva, Mundra, Jebel Ali, Jeddah, Nhava Sheva. The extension of the service to Turkey will provide transhipment options for further o

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