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
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
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
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 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
Matson provided preliminary 23Q2 results after Thursday close. Matson's ocean transportation activities will be between $78-83mn, which is nearly 3 times of the 23Q1 results but still down 80% YoY. The YoY drop is expected by the market but the sequential rebound in earnings may have come as a positive surprise to the analysts in the capital market. Matson 's operation is highly concentrated on US domestic routes in the Pacific Ocean and FE-WCNA while CCFI suggested China-WCNA freight rates ha
Evergreen's order for 16 new methanol powered containerships of 16,000 teu at Samsung H.I. marks the single largest containership order contract ever made. The order was finalised on 14 July 2023 and is worth $3.1 Bn (KRW 3.96 Tn) in total, with each unit priced at $193.9m. The ships are scheduled for delivery in 2026 and 2027. A separate order for 8 similar units has been placed at Nihon Shipyard according to Evergreen's announcement made on 11 July 2023.
RCL and CUL have added a new call at Sihanoukville on their jointly operated RBC1/BC1 (RCL Bangkok China 1/China-Thailand Service 1) service. The revised rotation of the RBC1/BC1 will be Ningbo, Shanghai, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Ningbo starting from 10 August 2023. The service turns in 3 weeks, and currently deploys 2 ships of 1,200-1,500 from RCL and one 1,930 teu ship from CUL.
Hainan Yangpu New New Shipping has launched the first of several planned voyages through the Northern Sea Route (NSR) with the departure of the 1,638 teu NEWNEW POLAR BEAR from St Petersburg on 7 July 2023. The 1AS ice-classed ship was acquired by New New Shipping in June this year and will make a 28 day transit to Qingdao and Xingang before reaching Shanghai in August. The overall transit time will depend on ice conditions enroute, with New New Shipping expected to mount 3 more sailings on thi
US West Coast ports are set to gradually recover part of the share that they have lost to their East Coast counterparts, with the latest data for May showing their strongest performance since 2021. The West Coast share rose to 54% after dropping to 47% last year, and the resolution off the ILWU contracts in both the US and Canada will pave the way for further normalization.