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
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.
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
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
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
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
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
Pasha has ended its involvement on the transpacific service operated exclusively for Costco with the last voyage made by the 2,756 teu CAPE ALTIUS that ended at Yantian on 1 June 2023. The ship has been re-let to Hapag-Lloyd for the remainder of its 40-44 month lease that started in March 2023. It is the last of the 11 ships that were chartered by Pasha on behalf of Costco for the Asia to US trade. Costco recorded a $93m charge in the fiscal quarter that ended on 20 November 2022 for the termin
China United Lines (CUL) will suspend its Transpacific Express II/South China-West US (TPC) service connecting Nansha, Yantian, Los Angeles, Nansha from June 2023 The TPC service is currently operated with 5 ships of 1,700-2,500 teu, and is currently the smallest service on the transpacific trade. It follows the earlier departure of micro carriers from the transpacific trade including CIMC, Jinjiang Shipping, BAL, TS Lines, Transfar, SeaLead and Pasha. The only remaining micro carrier on the Fa
Swire Shipping will upgrade its participation on the US West Coast to Pacific Islands service by taking over Hamburg Sud's share of the joint service from June 2023. The geared 1,730 teu MOUNT CAMERON will make the first independent voyage for Swire from 16 June 2023 at Long Beach. The US West Coast to Pacific Islands service connects Long Beach, Oakland, Papeete, Apia, Pago Pago, Long Beach on a 35-40 day rotation using 2 ships, with sailings every 19 days with relay connections at Apia by tr