THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) will withdraw the EC4 service from November 2023. The EC4 is 1 of the 5 FE-US East Coast services that THE Alliance currently operates. The last sailing will be made by the 14,078 teu YM WIND from Hong Kong on 6 November 2023. The service calls at Kaohsiung, Xiamen, Hong Kong, Yantian, Cai Mep, Singapore, Suez Canal, Norfolk, Savannah, Charleston, New York, Suez Canal, Singapore, Kaohsiung. The service currently deploys 11 ships of 13,
Zim will launch a new ZIM Gulf Toucan (ZGT) connecting Argentina and Brazil with Mexico and the US Gulf coast. The ZGT will start from January 2024 and will deploy to 6 ships of 2,800 teu that are mostly to be redeployed from its Australia routes. The ZGT will call at Buenos Aires, Montevideo, Navegantes/Itapoa, Paranagua, Santos, Rio De Janeiro, Cartagena, Kingston, Veracruz, Altamira, Houston, Mobile, Kingston, Cartagena, Santos, Buenos Aires. It follows the launch of the ZIM Colibri Expre
Starocean has started a new service called Starocean China Japan 2 service (SCJ2) that calls Ningbo, Osaka and Kobe on a 14-day rotation with two vessels with the first vessel the 349 teu OCEAN DRAGON joining the service at Osaka on 19 October 2023.
ONE has announced the launch of a new Southeast Asia to India and Gulf (SIG) service from 16 November 2023. The service will call at Singapore, Nhava Sheva, Mundra, Dammam, Jebel Ali, Cochin, Colombo, Singapore using 4 ships that are yet to be assigned in a 28 day rotation.
CoFIF trading stays red hot despite of the continuous decline in the FE-NEUR spot rates. Prices for all 5 CoFIF contracts were down 5-7% WoW but the CoFIF were still trading at 20-40% premium to the spot. Trading volume made new high on Friday with close to 500,000 contracts changed hands despite the exchange doubled the transaction fees on Thursday. It is the second time in less than 2 months that the INE has increased the transaction fees. The turnover-to-OI ratio now stayed high at 5x as th
Liners are pushing for GRIs in November. But following their recipe in June i.e. to cut down on the capacity, they are going to increase their capacity as shown by Linerlytica's Capacity Watch. Save for FE-FE-NEUR trade, the main west-east trades will see capacity increase by 9-22% MoM in November: FE-WCNA weekly capacity will increase by 22% MoM in NovemberFE-ECNA weekly capacity will increase by 16% MoM in NovemberFE-NEUR weekly capacity will decrease by 5% MoM in NovemberFE-MED weekly capac
Initial ports data for September suggests cargo volumes have already started to drop ahead of the Chinese holidays in October, confirming the weak peak season trend this year. Container volumes fell month on month across the 4 main Far East ports that have published their September volumes so far at Shanghai, Singapore, Shenzhen and Hong Kong, with the falls ranging from -2.8% to -4.5%. Despite the reduced MoM volumes, they were mostly still ahead of the same period last year with Shenzhen in p
Charter rates are seeing sharper drops with the start of the winter slack season further pushing down market sentiment while charter periods are also significantly shortened with more flexible delivery periods of 1-6 months being reported. Idle tonnage is starting to build up again but the pace of idling is still slower than last year, with most of the larger ships due to return to service by November. However, the build up of surplus tonnage is starting to bite with even MSC forced to idle
Carriers have retained their services to Israel and are continuing to accept bookings with the Israeli ports of Haifa and Ashdod remaining open through the week with only minor congestion issues reported due to increased security checks and labour shortages. Congestion in the rest of the Med region also appears to be under control with no vessel build up recorded. Global congestion has continued to ease with only minor delays reports in several hotspots, with Savannah continuing to see the wor
The impact of the EU Consortia Block Exemption Regulation (CBER) expiry on 25 April 2024 on the liner shipping market has been overplayed by the carriers and their detractors. Of the 43 consortia that operate in the European Union in 2020, only 13 actually qualify for the block exemption while the remaining consortia exceeds the 30% market share ceiling including each of the 3 global alliances (2M, OCEAN Alliance and THE Alliance). The removal of the CBER will not impact existing alliance arra