Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202227] Spot freight rates have continued to soften last week with space now open on the Transpacific and Asia Europe routes with only the South American routes seeing high demand. Further rate discounting by carriers are expected for the rest of July, with demand remaining soft despite significant schedule slippage with up to 20% of total capacity on linehaul routes being delayed due to persistent congestion at both origin
Medkon launches Turkey Russia Service (TRS) connecting Ashdod, Evyap, Mardas, Novorossiysk, Evyap, Ashdod
MSC launches service connecting Yangon, Singapore and Tanjung Pelepas. The service will start with 1083 teu MSC SUPARNA F calling Singapore on July 16.
MSC's Kaguaya service connecting Korea and Japan will start on July 5 with Busan call.
OOIL's 22H1 revenue was $1.25bn bn higher than that in 21H2. Given the $1.25bn increase came mostly from HoH higher freight rates, most of such increase could show up in the net profit.
June was a bumper month for new ship deliveries with 19 ships delivered for 124,931 teu in total. 6 ships were delivered in the last week alone, including 3 neo-panamax units that were delivered to CMA CGM, MSC and ONE respectively.
Global port congestion increased again last week to reach 13.3% as at 3 July, with total capacity waiting to berth reaching 3.39m teu compared to 2.95m teu a week ago.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202226] Hopes for a peak season boost to cargo demand is fading, with spot freight rates continuing to fall over the first week of July. US demand continues to soften, with the 4 main shipper categories on the eastbound transpacific route grappling with rising cargo inventories (see chart below). Despite increased port congestion over the past week, this has not been sufficient to boost freight rates. The ILWU failed to r
AD Ports Group (ADP) announced on 1 July 2022 that it has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier (IACC) for $140m. IACC owns Transmar, a regional container shipping company that operates a container service between Adabiya and Jeddah on its core route with operations across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. In 2021, Transmar handled 109,000 teu. It owns the 2008 built 2,127 teu TRANSMAR LEGACY that was acqui
Maersk is launching a new weekly shuttle service connecting Port Said East and Northern Italian port, Vado Ligure using 2 ships of 2,902 teu starting with the MAERSK PALERMO at Port Said East on 8 July and followed by the MAERSK PENANG at Port Said East on Sep 8. The service turns in 14 days and will act as a feeder service to relay cargo from Asia via transshipment at Port Said. Maersk's new feeder service to Northern Italy