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Services

Sidra Line introduces Egypt Express Service (EXS)

Sidra Line will introduce a new Turkey-Egypt Express Service (EXS) connecting Izmit, Ambarli, Aliaga, Alexandria, Izmit from 7 July 2023 with the 707 teu FATMA. The service will provide connections between Turkey and Eqypt with a 4-5 day transit time, with sailings every 10 days. It will also connect at Izmit and Ambarli to Sidra's Libya Express (LYX) and Novorossiysk Express (NVX) to provide relay connections between Egypt with Libya and Russia respectively.

Services

HMM to launch new FE-India-Med service

HMM will launch a new Far East-India-Med (FIM) service from 1 August 2023 that connects Busan, Kwangyang, Shanghai, Ningbo, Shekou, Singapore, Port Klang, Kattupalli, Nhava Sheva, Mundra, Karachi, Jeddah, Damietta, Piraeus, Genoa, Valencia, Barcelona, Piraeus, Damietta, Jeddah, Karachi, Mundra, Nhava Sheva, Kattupali, Singapore, Dachan Bay, Busan. The service will be independently operated by HMM and turns in 84 days with 12 ships of 4,700 to 8,600 teu. The service will replace HMM's current Ch

Services

Akkon Lines launch Turkiye Europe Service (TES)

Akkon Lines have introduced a new Turkiye Europe Service (TES) connecting Gemlik, Gebze, Ambarli, Aliaga, Salerno, Genoa, Casablanca, Tilbury, Antwerp, Casablanca, Castellon, Misurata, Gemlik. The TES service started on 1 June 2023 from Gemlik with the 698 teu ALOPO. The service will deploy 3 ships of 600 to 1,100 teu on a 10-11 day frequency on a full rotation of 33 days. The new service is a combination of Akkon's current West Europe Casa Service (WES) that connects Antwerp, Casablanca, Ant

Ports

Container Volumes Recover Slightly in May, Led by India and Singapore

Container volumes recovered slightly in May, with flash estimates showing a 1.4% month-on-month increase over April although it is still 1.6% lower compared to the same month last year. Year to date growth remains negative at -1.8% over the first 5 months of the year. The Indian sub-continent was one of the key bright spots with May volumes up 9.8% yoy. The 2 main Indian ports of Mundra and Nhava Sheva both recorded healthy volumes with YTD volume growth reaching 8.0% and 6.3% respectively. S

Services

Diamond Line launching new feeder to Baltic sea

Diamond Line, COSCO's subsidiary, is launching Gdynia Baltic Express (GBX) where two vessels will be deploy to cover Kotka, Helsinki, Gdansk, Gdynia, Bremerhaven, Hamburg, Klaipeda, Kotka on 14 days round trip. 1,425 teu OOCL RAUMA and 1,638 teu BALTIC SHEARWATER has been phased in at Kotka on 12 Jun and 18 June respectively.

Services

CNC/CMA CGM revamps CP2 South China-Philippines service

CNC, the intra-Asia arm of CMA CGM, has revamped its China South East Express services into a new South China-Philippines CP2 service from 20 Jun 2023. The revised CP2 will call at Nansha, Hong Kong, Shekou, Batangas, General Santos, Davao, Nansha on a 14 day rotation using 2 ships of 1,756 teu - SAN GIORGIO and CNC URANUS. CP2 service rotation

Services

CNC/CMA CGM launch CP3 South China-Philippines service

CNC, the intra-Asia arm of CMA CGM, has introduced a new South China-Philippines CP3 service that will start from 30 June 2023 to call at Shekou, Hong Kong, Subic Bay, Cebu, Cagayan de Oro, Kaohsiung, Shekou. The service turns in 14 days using 2 ships, the 1,781 teu SHENG AN and 1,952 teu CNC JUPITER. CP3 service rotation

Port Congestion

ILWU and PMA Reach Tentative Agreement for USWC

The International Longshore and Warehouse Union (ILWU) have reached a tentative agreement with the PMA on 14 May 2023 on a new 6 year contract covering all 29 ports along the US West Coast, ending 13 months of negotiations that was marked by sporadic work actions by the port workers. The deal will still need to be ratified by the members in a process that would stretch over several months but it has helped to avert a catastrophic shutdown of port facilities in the US West Coast. The ILWU fai

Markets

Fresh Lows For USWC Rates

Transpacific rates have fallen to fresh lows with rates dropping to $1,100 to $1,150/feu to the West Coast which is below the SCFI assessment of $1,207/feu. Rates to the US East Coast rates took a larger tumble with rates set to drop below $2,000/feu compared to the current SCFI rate of $2,103. The resolution of the ILWU negotiations will put further pressure on transpacific freight rates as the threat of a peak season disruption to cargo flows into the US has been removed and with no pick up c

MarketPulse

Market Pulse – 2023 Week25

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202325] Freight rates slumped for the 2nd successive week, with the SCFI losing over 9% in the last 2 weeks as carriers continued to slash rates on the transpacific routes. The resolution of the ILWU contract negotiations will further weaken the transpacific rate outlook as the risk of any peak season disruption to cargo flows to the US is materially reduced. Carriers need to reduce their capacity deployed to stop the rate

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