Charter rates continue to diverge, remaining firm for the larger ships in the Panamax and larger segments while softening in the smaller sizes of below 3,000 teu. Demand in the larger sizes have been surprisingly resilient despite the ongoing weakness in the freight markets. All prompt vessels of 5,000 teu and above have been snatched up, with the tight supply to persist until the end of the year. But the supply-demand balance for smaller ships have started to weaken, with a significant number
Shanghai reported total container volumes of 4.10m teu in May, for its strongest monthly performance so far this year. Although the May volumes were 20.5% higher than the corresponding period last year, the large increase was due to the 2-month COVID-19 lockdown in April and May 2022 which dragged down Shanghai’s volumes last year. YTD volume growth for the first 5 months of the year reached 4.4% but volumes remain well below the 2022 monthly peak of 4.35m teu. In the India subcontinent, Nhava
Safetrans, OVP Shipping and Mountan Air Shipping have launched two new feeder services to provide relay connections for their joint service from China to connect to the Russan market through the Baltic and Black Sea gateways of St Petersburg and Novorossiysk. The Med-Baltic Feeder will connect Ambarli and St Petersburg and currently deploys 3 ships from OVP - OVP ARIES (2,464 teu), ALLSEAS PIONEER (1,878 teu), HUA XIANG 936 (1,675 teu). 2 more ships will be added in July 2023 with the frequency
Spliethoff has launched a new Transatlantic container/roro service starting from June 2023. The service will operate on a monthly frequency and call at Antwerp, Bristol or Southampton, Baltimore, Gloucester using roro ships from sister company Transfennica that are normally operated on the intra-European routes. These ships are able to carry 300-600 teu of containers and up to 3,000 lane meters of rolling cargo. The first sailing was made from Antwerp on 9 June with the 640 teu/2,953 lane m PUL
Neco Line has added a new link connecting the Indian subcontinent with western Russia. The service will deploy 2 ships of 500-1,700 teu that is currently operates on irregular rotations to both eastern and western Russia. The 1,740 teu CRYSTAL ST. PETERSBURG has been deployed on the St Petersburg, Karachi, Mundra, St Petersburg run since 2 May 2023 with sailings every 50-60 days. The 518 teu CRYSTAL VLADIVOSTOK has started a new rotation on 28 May 2023 calling at Mundra, Karachi, Port Klang,
The three Taiwanese liners' revenue (in USD) in May rose 2% MoM but fell 65% to $1,388mn in aggregate, which is comparable to the levels in August and September in 2020. The three Taiwanese liners in aggregate delivered $581mn operating profit in 3Q 2020 on $384mn fuel expenses and $321/ton average fuel price. The latest fuel expenses in 1Q 2023 was about $700mn on $631/ton average fuel price.
US west coast ports remain open despite the work actions taken by the ILWU last week, with the build up of vessels waiting at west coast anchorages largely under control. Although the Pacific Maritime Association (PMA) said that cargo operations at the port of Seattle were shut down on 9 and 10 June, this was disputed by the ILWU. Port productivity at Seattle and Tacoma have slowed with over the past week with port stays extended by several days and vessel berthing delays continuing although t
Customs of PRC reported foreign trade figures on 7 Jun, for which the market was negatively surprised by the 7.5% YoY drop in May whereas analysts were expecting just 0.4% decline. But what the market have missed may be more concerning for container shipping, in our view, which is the sequential drop in export since March. Since 2014, Chinese export has always grown sequentially and on average 14% from March through May, an usual seasonal pattern. This year, the Chinese exports fell 10% in t
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202324] The SCFI slipped by 4.7% last week on the back of slumping transpacific rates with carriers slashing rates on both the West Coast and East Coast routes, erasing all of the recent GRI gains. The US west coast dock labour dispute remains a distraction with only a minimal impact on vessel operations and latent congestion already easing, while the Panama Canal draft restrictions failed to stop rates from falling on the e
Asyad Line has introduced a new Red Sea Express (REX) service connnecting Nhava Sheva, Mundra, Salalah, Jeddah, Sokhna, Nhava Sheva. The service was launched on 1 May 2023 with the newly chartered 2,782 teu GREGOS and the IRENES RULE.