Global containership capacity has risen by 2.43m TEU in the last 12 months, registering a growth of 8.1% YoY with 2.48m TEU of new vessel deliveries added against just 0.05m teu that were scrapped. African routes helped to absorb 23% of the net capacity additions with 0.57m teu added on the trade since July last year. MSC’s redeployment of their 24,000 teu ships to the FE-West Africa trades since March have played a key part in the rise of African vessel capacity and relieving the capacity overh
Asia-North Europe rates have started to drop back after their recent rally, with capacity utilization rates dropping conspicuously in the past week. EC freight futures continue to trade haphazardly over the past week, reflecting the lack of clear market direction with strong initial gains giving way to doubts as spot rates are showing early signs of weakening. How long can carriers sustain the recent rate gains to North Europe remains the key question given the weakness that has already crept i
Register Free Trial Container freight rates continued their precipitous fall as the SCFI shed a further 5% last week with weaker rates across all main trades led once again by the Transpacific. Carriers’ reluctance to withdraw surplus transpacific capacity amidst the tariff chaos doomed their mid-July rate hike efforts. Rates to North Europe that have held up well in the last 2 months are also starting to crack with vessel utilization rates dropping noticeably last week, potentially signaling a
OOCL has launched a new Indonesia Vietnam Straits Express (IVS) service that connects Singapore, Ho Chi Minh City, Singapore, Surabaya, Semarang, Singapore from 4 July 2025. The IVS turns in 14 days and deploys 2 ships - the 1,774 teu INFERRO and 1,809 teu MONICA. The IVS will replace OOCL's existing Vietnam Singapore Express (VSX) that is absorbed in the new service.
The freight futures for the Far East to North Europe route rebounded slightly today, as traders continue to debate the extent of correction the physical market may experience in the coming months. Uncertainty remains regarding the potential peak of spot freight rates. Maersk has issued a notice announcing an increase in its peak season surcharge (PSS) from $100 per FEU to $500 per FEU effective 1 August. With this adjustment, Maersk's FAK rate will rise to approximately $3,500 per FEU from 1 Au
The 8,204 teu MSC BILBAO and MSC VALENCIA that have been detained at Malta since 2022 are due to be released after both ships were transferred out of Russian ownership. The 2 ships are owned by interests linked to the GTLK-Joint Stock Company State Transportation Leasing Company that have been placed under the US Treasury's Office of Foreign Assets Control (OFAC) Russia-related sanctions since 2022. Both ships were transferred to new owner TSC on 7 July 2025 and have been renamed TSC DORADO and
The European Contracts retreated after Hapag Lloyd published a quotation of $2,935 per FEU for shipments departing on July 29, which was announced after the market closed yesterday. EC2510 staged an intraday rebound in the afternoon, as some traders are still betting on a possible surprise in October, traditionally a seasonal trough. However, the counter still closed near the day's low. Trading sentiment continued to decline after reaching its peak at the market open yesterday. From our channel
Asia-North Europe rates are enjoying a surprise revival, with carriers able to retain most of the early July gains. Spot rates are expected to remain firm in the next 2 weeks as capacity utilization remains very high and Maersk in particular was able to lift their spot rate quotations in a change of direction from their previous rate cuts. Congestion at European main ports remain high especially in Rotterdam and Antwerp but waiting times are starting to improve gradually Rates to the Med is how
The new US import tariffs that are set to imposed from 1 August will not have any detrimental impact on volumes from Vietnam and India who are both set to be the main beneficiaries of the Trump tariffs as Transpacific container cargo volumes continues to switch away from China to alternative origins. Containerised exports from Vietnam to the US have risen by 29% in the first 6 months of 2025, with volumes reaching a record high in the last 2 months. Chinese exports to the US dropped by 0.8% dur
EC staged a surprise rally yesterday (15 July), with EC contracts surging 5–16%. This move allowed them to catch up with the strength seen in the spot market, where liners have been increasing freight rates, albeit at a slower pace than initially planned. Both EC2510 and EC2512 contracts reached their daily upper trading limit yesterday, although they retraced some of their gains today (16 July). The rally was primarily driven by a wave of fresh buying interest. Open interest rose sharply to 86