CMA CGM'S intra-Asia arm CNC has upgraded the Korea China Southeast Asia (KCS) service to the 6,000-7,000 teu scale, making it the largest dedicated intra-Asia service alongside Maersk/Sealand Asia's IA-8 service that deploys ships in the 6,000 teu size. These 2 intra-Asia services are the largest services in the North Asia-Southeast Asia corridor that commonly employs ships in the 1,700-4,200 teu scale. The KCS calls at Xingang, Dalian, Lianyungang, Qingdao, Singapore, Jakarta, Surabaya, Man
Samskip has launched a new Baltic Sea - Finland/Latvia service from 7 November 2023 to connect Helsinki, Riga, Hull, Rotterdam, Helsinki. The service turns n 2 weeks using 2 ships of 500 teu. The service was initiated at Helsinki on 7 November with the 366 teu ORION for a single trip before being replaced by the 509 teu BF CARTAGENA and 508 teu DORNBUSCH.
Zim will relaunch the ZIM eCommerce Xpress (ZEX) service from 19 November 2023 to provide an expedited service from South China to Los Angeles. The service will see Zim's ships return to the US West Coast after it withdrew the ZEX in February 2023 and the ZNP in June 2023. The new ZEX will connect Xiamen, Yantian, Los Angeles, Xiamen using 6 ships of 4,200 starting with the 4,252 teu FELIXSTOWE and followed by SEASPAN LONCONMILLA (4,256 teu), ZIM CARMEL (4,360 teu), SEASPAN CHIBA (4,520 teu), S
The SCFI transpacific rate assessments surged for a second straight week to pass $2,100/feu to the West Coast and $2,400/feu to the East Coast but these rates cannot be sustained in the traditional slack season in November, with spot rates settling into the usual routine of early month hikes followed by mid-month declines. The same pattern will be repeated through November, with capacity rising sharply this month on both WC and EC routes. Forward capacity forecasts for November currently shows a
Asia-North Europe forward freight prices on CoFIF were mostly unchanged last week, with the SCFI spot rate assessment slipping by 1.7% after surging by 32% the week before, while the latest SCFIS recorded a 1.7% increase following the 7.7% gain a week before. The CoFIF is settled on the SCFIS (Shanghai Export Containerized Freight Index based on Settled Rates) which is based on the blended average settled rates determined by the Shanghai Shipping Exchange with a base index of 1,000 as at May 20
Maersk swung to a -$27m EBIT loss in 3Q 2023 but instead of shedding excess capacity, Maersk has been actively adding new capacity while slashing rates to recover market share. Maersk’s aggressive price cutting was one of the main reasons behind the dramatic drop in market rates in the 3rd quarter. Maersk’s average freight rates dropped by 14% QoQ despite having 68% of its total volumes on fixed contracts, highlighting just how aggressive its pricing actions have been as its total liftings rec
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202345] The SCFI rally is coming to an end after 4 consecutive weekly gains, with spot freight rates already starting to slip even as carriers eye a new round of rate hikes in December. Carriers have not withdrawn sufficient capacity for the higher rates to stick despite the rapidly eroding earnings with Maersk becoming the latest casualty following Zim and Wan Hai to have reported quarterly EBIT losses this year. Carriers c
ONE will launch a new Thailand Singapore Express (TSX) feeder service connecting Laem Chabang, Singapore, Laem Chabang from 14 November 2023. The TSX service will turn in 7 days with the 4,432 teu BEAR MOUNTAIN BRIDGE. It will provide feeder connections for THE Alliance partners (Hapag-Lloyd, HMM, ONE and Yang Ming) to replace the current Asia-Europe FE5 service calling Laem Chabang, Cai Mep, Singapore, Colombo, Rotterdam, Hamburg, Antwerp, London Gateway, Jeddah, Singapore, Laem Chabang that
The SCFI transpacific rate assessments have rebounded on the back of the 1 November GRI that has brought spot rates to the West Coast above $1,900 per feu and East Coast to above $2,350 per feu. Despite this, the positive momentum on the transpacific routes will be difficult to sustain as capacity will increase through November after the cuts in October while capacity utilization continues to weaken on services to both coasts. Spot Asia-Europe freight rates surged last week ahead of the 1 Nove
X-Press Feeders has introduced a new Jeddah Hodeidah X-Press (JHX) service that connects Jeddah, Djibouti, Hodeidah, Jeddah from 10 November 2023 using the 1,866 teu EA BLUE NILE and 1,645 teu X-PRESS KOHIMA. The service will operate on an irregular rolling schedule without fixed windows on a full rotation that will take 28 to 32 days due to berth congestion at Djibouti and Hodeidah. The service will call at both the RSGT and DPW terminal in Jeddah. The JHX will complement the existing Jeddah