Roro specialist CLdN has launched a new Rotterdam-Ireland Lolo service from 18 March 2024 calling at Rotterdam, Dublin, Cork, Rotterdam. The new service will provide 2 sailings per week using 2 newly chartered 962 teu ships - ANDROMEDA J and PAVO J. The service will call CLdN's newly acquired Distriport terminal in Rotterdam with sailings departing Rotterda every Thursday and Saturday to complement CLdN's existing Roro services between the Netherlands, UK and Ireland.
The new OCEAN Alliance Day 8 network starting in April 2024 will drop one of the 7 Far East-Europe services that they current operate. The affected service is the Far East North Europe NEU3 service (branded respectively by COSCO/OOCL, CMA CGM and Evergreen as the AEU7/LL3/FAL7/NE7) calling at Xiamen, Nansha, Hong Kong, Yantian, Cai Mep, Singapore, Zeebrugge, Hamburg, Rotterdam, Port Klang, Singapore, Xiamen with the wayport call at Piraeus omitted since January due to the diversion of the servic
Peak Shipping, the Xiamen based affiliate of Summit Shipping, has launched a new China-Yemen Express (CYE) service connecting Ningbo, Shekou, Port Klang, Aden, Djibouti with the 713 teu JI ZHE 2 from 28 January 2024. Summit Shipping Line was established in Singapore in October 2019 as a subsidiary of the Xiamen Port Group. It operated initially as a NVOCC (Non-Vessel Owning Common Carrier) using slots from common feeder and linehaul operators in the Intra-Asia and South Asia routes. It began it
ONE will launch a new Scandinavia Baltic Express (SBX) from 19 May 2024 calling at Wilhelmshaven, Hamburg, Fredericia, Gdynia, Wilhelmshaven. The service will turn on a weekly basis using one ship that will be named closer to the launch date in May. In conjunection to the SBX launch, ONE will also revise the rotation of its IBESCO/Iberia-Europe-Scandinavia (IBC) service with the current call at Gdynia dropped while adding new calls at Copenhagen and Helsingborg. Starting from 19 May 2024, the
ZIM reported FY2013 results before Market on 13 March 2024. The $147m net loss for 4Q 2023 was better than the average consensus estimates on Bloomberg. The capital market was disappointed, anyhow, on a set of cautious guidance despite of the recent rebound in the spot rates. For 2024, management guided -$300mn to +$300mn for EBIT; and $850mn to $1,450 mn for EBITDA. In other words, depreciation guidance is $1,150mn, which means the depreciation expenses for 2024 will not drop much against the
The Red Sea disruptions continue to drive charter rates, with average charter rates rising by a further 3% last week with healthy gains across all size segments. The larger sizes continue to enjoy the biggest gains, with vessel availability failing to match demand. Activity in the panamax segment remains active, with last done rates rising above $25,000 for the first time in 9 months. The availability of ships larger than 5,000 teu remains very limited, with demand still uncovered which will c
Conflicting signals abound in a market looking for fresh directions, with freight rates continuing to slide as the SCFI dropped by 4.7% last week bringing the cumulative decline to 15.8% since its January peak. However, charter rates continue to firm while second hand vessel prices are still rising as demand for tonnage remains high. The recent freight rate correction has not deterred new entrants, with another Chinese carrier set to launch a transpacific service in March. Total containership
There is no fresh direction on the transpacific, with rates continuing to erode. Although the SCFI rates to the USWC held above $4,000 per feu, carriers are offering special rates that were as much as $500 lower than these FAK rates in order to secure additional volumes. The recent rate correction has weakened carriers’ bargaining position for the new service contract that will start from May 2024 with final contract rate levels expected at below $2,000/feu against benchmark rates of $1,200-1,6
CoFIF trading volume slumped to a new low of 10,101 lots last Friday (9 March 2024) as speculative sentiment cooled. Based on an estimated ratio of one lot to 10 teu, the reduced CoFIF daily trading volumes still amounts to 100,000 teu, which provides significant market liquidity that matches the daily turnover of the dry bulk FFA which has a longer trading history. However, CoFIF is digitally traded as opposed to dry bulk FFAs that trade over-the-counter. Open interest, an indicator of traders
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202411] Conflicting signals abound in a market looking for fresh directions, with freight rates continuing to slide as the SCFI dropped by 4.7% last week bringing the cumulative decline to 15.8% since its January peak. However, charter rates continue to firm while second hand vessel prices are still rising as demand for tonnage remains high. The recent freight rate correction has not deterred new entrants, with another Chin