The idle containership fleet continued to creep upwards to reach 148,000 teu or 0.5% of the total fleet this week, driven entirely by the redelivery of 15 of SeaLead’s OFAC sanctioned ships that has added 67,400 teu to the idled fleet capacity after they completed cargo discharge. SeaLead has confirmed that it has permission from OFAC to load empty containers from the Med on one remaining 6,882 teu ship that is currently making its way back to Asia. SeaLead has not been able to replace these re
Asia-Europe freight rates continued to slide, with both the SCFI and SCFIS indices recording accelerated declines. Carriers have largely abandoned any hopes for a September rate push, and are shifting their attention to filling their ships and building up cargo roll pools ahead of the Golden Week holidays in October. Carriers have only themselves to blame for their current predicament given the total absence of capacity withdrawals necessary to arrest the declining freight rates. Their willingn
Freight futures listed in Shanghai extended their decline from the final hour of yesterday’s session (2 Sep), as traders began to question whether MSC’s blanking of four voyages would be enough to offset the expected volume dip in the first half of October. In the physical market, however, liners continue to cut quotations for September FAK shipments, with Gemini operators reducing their offers to USD 1,650–1,700 per FEU. Trading volume fell sharply from yesterday’s 117,491 contracts to 40,534
Freight futures listed in Shanghai surged this morning, buoyed by a fresh influx of cash that pushed up every contract, as a blank sailing notice from MSC strengthened conviction in the market that freight rates have found a floor at around $2,000 per FEU. The MSC blank sailing will cancel four voyages, removing a total of 60,442 TEU—equivalent to 5% of the capacity deployed in October. Even after this reduction, the average weekly capacity for October will remain at 293,341 TEU. Buying intere
Register Free Trial The SCFI staged its first rebound after 11 consecutive weekly declines but the rebound will be short lived as freight rates will resume their downswing in the absence of capacity cuts by carriers. The market continues to be in a stand-off with the planned September rate hikes not expected to hold as carriers shift their focus to filing their excess vessel capacity and building up cargo roll pools ahead of the Golden Week holidays in China in October. While the freight rate
The Premier Alliance partners (HMM, ONE and Yang Ming) will suspend their Pacific South 5 (PS5) service, with the last sailing by the 4,992 teu NYK CONSTELLATION to depart from Ningbo on 8 September 2025. The PS5 service was launched in June 2025 and calls at Qingdao, Ningbo, Long Beach, Qingdao with ad hoc calls at Busan and Kobe. The service turns in 6 weeks using 3 ships of 4,600 to 4,900 teu on a fortnightly frequency since July 2025.
Newly established carrier Warisan Shipping Line (WSL) has launched a new Singapore Express Service connecting Singapore, Muara, Kota Kinabalu, Singapore from 4 August 2025 with the 1,118 teu JI YUN 16. The service turns in 12 days, with a second ship, the 602 teu JIFA BOHAI operating on a different port rotation that would include calls at Port Klang and Lahad Datu in Sabah. WSL was established in March 2025 in Brunei to provide shipping services in the ASEAN region.
WEC Lines will upgrade 2 of its existing services connecting the North Continent with Iberia/Canary Islands. The new NWC Portugal (NWC PT) will call at Rotterdam, Moerdijk, Antwerp, Vigo, Leixoes, Setubal, Montoir, Rotterdam, turning in 14 days using 2 ships of 1,000 teu (WEC VAN RIJN and WEC DE HOOGH) from 30 August 2025. The NWC Canary Islands (NWC CAI) will call at Hamburg, Thamesburg, Moerdijk, Bilbao, Vigo, Leixoes, Las Palmas, Santa Cruz, Sines, Hamburg, turning in 21 days using 3 ships
Freight futures contracts listed in Shanghai continued to decline. Trading volume remains steady but low, while open interest continues to rise. The main news concerns ONE reducing its quotation for shipments by $200 to $2,143 per FEU, and Hapag Lloyd lowering its rate for shipments departing in the last week of September by $200 to $1,835 per FEU.
Freight futures contracts in Shanghai experienced a sharper decline today compared to the average movements of the past two months, as traders showed increased conviction. The drop remains primarily driven by short sellers, while some buyers who believe the market is nearing a bottom continue to step in. As a result, both short and long positions attracted fresh capital, leading to a rise in open interest.