ONE will launch a new West India North America (WIN) service calling at Port Qasim, Hazira, Nhava Sheva, Mundra, Damietta, Algeciras, New York, Savannah, Jacksonville, Charleston, Norfolk, Damietta, Jeddah, Port Qasim from May 2024 turning in 9 weeks with ships operated solely by ONE. HMM will purchase 1,700 teu a week on the service on a round trip basis including 170 reefer slots. The routing could be affected by the current diversions from the Red Sea to the Cape which could delay the launc
Hapag-Lloyd will introduce a new shuttle service for Red Sea cargo connections calling at Tanger, Damietta, Jeddah, Tanger from 19 January 2024 using the 4,252 teu SEASPAN HAMBURG. The service will turn on a 10-12 day frequency initially with feeder connections offered at Jeddah to Aqaba and Port Sudan. The temporary solution will replace current connections to the Red Sea that have been affected by vessel diversions to the Cape route.
CMA CGM will revamp two services connecting Libya with East Med ports from January 2024. The Turkey Libya Express (TULYB) will be revised to call Aliaga, Gemlik, Ambarli, Alexandria, Misurata, Aliaga from 17 January 2024 on a 14 day rotation using 2 ships, the 1,122 teu JAGUAR and 1,114 teu ATLANTIC MERCHANT. The service will drop its current calls at Gebze, Piraeus and Limassol with the total turn time reduced from 3 weeks to 2 weeks. The Greece Turkey Libya Express (GTL) will be revised to
Transpacific freight rates have risen in tandem with European rates last week, rising to $2,553/feu to the West Coast and $3,559/feu to the East Coast, both breaching their 12 month highs. Capacity is expected to remain tight in the coming weeks, with reduced departures available in January especially on the US East Coast routes where the diversions to the Cape route will start to have an impact from week 3 onwards. Carriers are also switching ships away from the US West Coast to Europe where t
ONE will launch a new Egypt Lebanon Turkey Service (ELT) calling at Damietta, Beirut, Iskenderun, Damietta with the 1,084 teu MARIELYST at Damietta on 31 January 2024 on a weekly frequency.
CMA CGM and Maersk will launch the Ceiba Express (Ceiba/U7H) service calling at Port Everglades, Kingston, La Guaira, Puerto Cabello, Cartagena (Col), Puerto Cortes, Santo Tomas de Castilla, Port Everglades on 21 days round trip. The service will deploy 3 vessels starting with the 1,732 teu HANSA SALZBURG at Port Everglades on 14 January 2024, followed 1,691 teu MARFRET GUYANE and 2,564 teu CMA CGM PEMBA.
CoFIF’s April contracts (EC2404) soared to a new high on 27 December but retreated on the last 2 trading days of the year to close at to 1,643 as the traders unwinded some of their pairs (long EC2404 and short EC2412). Market conviction weakened with Open Interest balance dropping through the week to end down by 50% WoW, with Maersk’s decision to resume Suez transits earlier last week dragging down the forward expectations. The latest SCFIS assessment on 1 January for the Asia-North Europe rout
The number of containerships diverted to the Cape Route has reached 262 ships as at 31 December 2023 with a total capacity of 3.4m teu or 12% of the global capacity. Apart from ships diverted from the Suez route, there is also an increasing number of ships diverted from the Panama Canal to avoid the Canal congestion. With the crisis hitting Europe rates the hardest, European carriers have taken a divergent approach with Maersk and CMA CGM resuming Suez transits as of last week while MSC and Ha
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202401] The Red Sea crisis dominated another frenzied week for the container shipping market with the SCFI rising by 40% - only the 4th time since 2009 that spot freight rates jumped by more than 40% in a single week. All long haul routes recorded strong rate gains led by the Asia-Europe trades, with the elevated rates expected to hold through January and February as capacity will remain tight in the next 6 weeks. 12% of glo
CMA CGM and Maersk will jointly launch a new Cape Town Feeder/Cape Town Express service connecting Port Louis, Cape Town, Port Louis from 9 January 2024. The service will turn in 4 weeks using 4 ships of 2,200-2,500 teu starting with the CMA CGM FORT ST GEORGES, MAERSK NEWARK, MAERSK NANSHA and CMA CGM ANTIOQUIA. The service will cater for connections to Cape Town at Port Louis on the updated Shaka/Safari service jointly operated by CMA CGM and Maersk that will call at Shanghai, Ningbo, Shekou,