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Market Pulse – 2022 Week 23

Register Free Trial [] Transpacific spot freight rates remain under pressure but alarmist reports of catastrophic demand drops are unwarranted. The recent weakness in smaller transpacific NVOCC bookings reflect volume shifts as BCOs are able to book directly at favourable rates with vessel space currently open. The reduction in the LA vessel queue is also freeing up more capacity to the USWC but USEC capacity remains constrained with conge


Sinokor launched another Russia shuttle

Qingdao Russia Shuttle will connect Qingdao, Korea and Russia through port rotation, Qingdao, Kwangyang, Busan, Vladivostok, Busan, Kwangyang, Qingdao.


CUL launch new shuttle to Manila

China United is launching new service that connect South China and Philippines with OSG BEAUTEC's call at Nansha on July 2.


MSC launched new East Med service

MSC launched Adriatic To Turkey, Israel and Eqypt, which will replace the previous Turkey Israel Shuttle with additional call at ports in Italy and Turkey. The serviced started with MSC SHEILA's Ashdod call on Jun 1.


Taiwanese carriers maintain top line revenue in May

Taiwanese liners' May top line came out flat MoM, again reassuring that impacts during the Shanghai lockdown were minimal for the liners.


TP Eastbound Utilization Remain Health

TP eastbound volume may not have collapsed as some may believe these two days. Utilization for vessels heading to North America has been healthy since end of May. The number of sailings have dropped in the last two weeks but schedule slippage and bunching have been the norm since 2020

Port Congestion

Port Congestion Remains Elevated

Global port congestion remains elevated, with an increase in congestion seen in eastern and northern Chinese ports last week mainly around Ningbo and Qingdao. Although the terminals in Shanghai are operating normally, they remain below full capacity due to manpower shortages.


Mexican pacific ports gained

Mexico has been a key beneficiary of the container traffic boom in the last 2 years where Mexican ports have enjoyed a significant spillover of North American cargo demand


Transit time performance mixed

Transit time performance were mixed in the 4 main trades last week, with improvements seen in the PSW and USEC ports but worsening waiting times in the PNW as well as the North European and Med ports.


USEC capacity grew 18% YoY

Average capacity is 17.7% higher to the USEC compared to a year ago, with cargo diversions from the USWC continuing in anticipation of a potential disruption at the west coast gateway ports from the ILWU contract negotiations.

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