The Red Sea crisis continues to drive the container market as the number of ships diverted to the Cape route hit a fresh high with no signs of abating. This will continue to create a capacity shortage across all routes, with the Cape diversions and incremental capacity needed to connect to Red Sea and Med ports already soaking up more than 7% of the global containership fleet. Freight rates retained most of the January gains, with the SCFI shedding only 5.8% of its pre-Chinese New Year peak whil
Asia-North Europe forward rate contracts on Shanghai’s CoFIF has traded at a discount of over 50% to the spot rate for over a month and last week’s SCFI drop triggered a further 4% decline in the CoFIF rates on 26 February. The drop has been widely anticipated after CoFIF’s April contracts edged up 4% on 19 February, the first trading day after the Chinese New Year holidays but quickly qave up the gains the next day before flat-lining for rest of the week on relatively low turnover with traders
The number of containerships diverted from the Suez to the Cape route has rebounded to a record high of 403 units for 5.14m TEU as at 25 February 2024. The recent surge was partly due to CMA CGM’s decision to reroute from the Red Sea since 1 February 2024 even though the French carrier has backtracked since then with the 16,022 teu CMA CGM JULES VERNE making an eastbound Red Sea passage last week, with a second ship (the 14,414 teu CMA CGM T. ROOSEVELT) scheduled to follow later this week despit
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202409] The Red Sea crisis continues to drive the container market as the number of ships diverted to the Cape route hit a fresh high with no signs of abating. This will continue to create a capacity shortage across all routes, with the Cape diversions and incremental capacity needed to connect to Red Sea and Med ports already soaking up more than 7% of the global containership fleet. Freight rates retained most of the Janua
China United Lines (CUL) and Interasia Lines (IAL) will launch a new South China –Vietnam–Thailand service, marketed respectively as the SCT2 and SVT from 14 March 2024. The SCT2/SVT will call at Bangkok, Laem Chabang, Nansha, Chiwan, Ho Chi Minh City (Cat Lai), Bangkok. The service will turn in 2 weeks and deploy the 1,756 teu INTERASIA VISION and a second vessel to be operated by CUL.
Unimed, Unifeeder's Mediterranean feeder arm, has launched a new Egypt-Greece feeder service connecting Port Said, Piraeus, Port Said from 18 February 2024 using the 1,134 teu PAN GG for the first 2 sailings before it is replaced by the 1,129 teu EGY CROWN. The service will turn on a weekly basis and will call at the SCCT terminal at Port Said and PCT in Piraeus.
EMES Feedering, the feeder operating arm of Arkas, has launched a new Spain Algeria Service (SAS) connecting Valencia, Algiers, Oran, Valencia from 15 February 2024 using the 698 teu ORION. The SAS service will turn in 10-14 days, with the call at Oran is omitted in the first 2 sailings. The Oran calls are scheduled to start from 13 March 2024.
Sidra Line has launched a new Turkey Red Sea (TRS) service from 10 February 2024 connecting Izmit, Ambarli, Iskenderun, Sokhna, Jeddah, Aden, Jeddah, Izmit. The service turns in 23 days and will deploy the 1,471 teu SIDRA AHLAM.
SeaLead will launch a new Far East India Express 2 (FIX2) service from 2 March 2024 connecting Ningbo, Xiamen, Shekou, Mundra, Port Klang, Ningbo. The service will turn in 5 weeks using 5 ships of 1,800-2,000 teu starting with the 1,930 teu BALTRUM, to be followed by 3 ships of 1,809 teu - ADAMASTOS, AVIOS, ASTRAIOS, with a 5th ship still to be named. The FIX2 service to the India West Coast will complement SeaLead's existing FIX1 service to the India East Coast calling at Qingdao, Shanghai, Ni
Unifeeder will add a new Aruba and Curacao feeder service connecting Cartagena, Oranjestad, Willemstad, Cartagena from 1 March 2024 with the 642 teu ELLA Y. SThe new service is Unifeeder's third Americas service, adding to the Panama-Colombia service launched in January 2024 connecting Manzanillo, Turbo, Cartagena, Barranquilla,Santa Marta, Cartagena, Manzanillo and the Hispaniola-Puerto Rico service launched in March 2023 connecting Caucedo, Port au Prince, San Juan, Caucedo.