SITC has launched a new China-Philippines Express 7 (CPX 7) service calling at Shanghai, Wenzhou, Manila (South), Cebu, Cagayan de Oro, Shanghai from 30 May 2024. The CPX 7 will turn in 14 days using 2 ships, starting with the 1,060 teu GREEN PACIFIC before being replaced by 2 newbuildings that will be delivered in June, the 1,781 teu SITC HAODE and 1,868 teu SITC ZHI.
BAL Container Line has relaunched the China-Mexico Express (CMX) service calling at Yantian, Qingdao, Lazaro Cardenas, Manzanillo (Mex), Yantian from 1 June 2024. The CMX service will turn in 6 weeks using the newly chartered 1,809 teu AMOUREUX that is expected to make 2 round voyages in June and July. A second 1,809 teu ship, ARIONAS will join the service on 19 June 2024. It marks BAL's return to the long haul routes after it withdrew its last operated ship, the 3,534 teu NORTHERN DEBOUNAIR o
SeaLead will launch a new America West Coast (AWC) service connecting Nansha, Ningbo, Shanghai, Long Beach, Nansha from June 2024. The service will operate with 3 ships initially - the 1,809 teu ADAMASTOS scheduled at Nansha on 17 June, the 5,610 teu SUEZ CANAL due at Nansha on 26 June and 1,809 teu ASTRAIOS at Nansha on 1 July. SeaLead started its transpacific operations in August 2021 on the Asia-US West Coast and with a Asia-US East Coast service added in March 2022. These services were op
Spot rates to Europe have risen above their January peaks with momentum continuing to be strong given the current tight space situation with further rate hikes expected in the coming weeks. Week 22 saw just 6 out of 11 Asia-North Europe sailings depart on schedule the congestion at Singapore and Tanjung Pelepas has severely disrupted the market. Overall capacity utilization remains very high while forward capacity forecasts for June with continued delays arising from congestion, which will redu
Container port congestion at key Asian ports continue to worsen, with berthing delays worsening at China and Southeast Asia hubs. Although the total capacity waiting at Singapore has eased slightly from 450,000 teu a week ago to 380,000 teu, the strain has shifted to Port Klang and Tanjung Pelepas. Waiting times have also risen across all main Chinese port regions with Shanghai and Qingdao experiencing the longest delays. Overall congestion globally has edged up further to 2.10m teu with furthe
The SCFIS index to North Europe gained a further 12.8% to reach 3,799 on 3 June 2024, further narrowing the gap between current spot rates and the CoFIF Asia-North Europe freight futures’ EC2406 and 2408 contracts which are now trading at a 10% premium to the current SCFIS. The prices for these 2 contracts with the earliest expiry dates slipped marginally last week on lower traded volumes, with the market lacking fresh directions. The June and August futures rates are now on par, which suggests
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202423] The capacity crunch in the container shipping market has worsened, with one transpacific service operated by Maersk withdrawn barely 8 weeks into its launch, while almost half of the Asia-Europe westbound sailings missed their scheduled departure dates as port congestion at Southeast Asia hub ports remain elevated. The SCFI extended its rally for the 9th consecutive week, rising by 13% last week, while cumulative gai
Maersk will withdraw the Far East-East Coast North America TP20 service with the last sailing from Shanghai on 13 June 2024. The TP20 service was re-launched on 21 April 2024 to call at Qingdao, Shanghai, Yantian, Newark, Baltimore, Houston, Qingdao. It was to turn in 12 weeks using up to 12 ships of 2,500 to 5,000 teu. However, the service will be suspended after making just 8 sailings due to the shortage of ships in the market. The removal of the service will reduce overall FE-ECNA capacity
COSCO and OOCL will launch a PNW peak season transpacific service branded as the China-Pacific Northwest Coast/Vancouver (CPV) service calling at Ningbo, Shanghai, Vancouver, Seattle, Lianyungang, Ningbo starting from 12 June 2024. The CPV service will turn in 42 days using 6 ships of 4,250 teu starting with the 4,253 teu COSCO VENICE at Ningbo. The service will be the first new transpacific service launched for this year’s peak season and will add 1.4% to the current capacity deployed on the F
What is CoFIF? o INE Container Freight Index Futures (CoFIF) are a type of futures contract traded on the Shanghai International Energy Exchange (INE). Where is CoFIF traded? o The Shanghai International Energy Exchange (INE), an associated company of the Shanghai Futures Exchange; the two are operated and managed by the same management team. o The INE is regulated by the China Securities Regulatory Commission (CSRC) and serves as every trader's ultimate counterparty. All trading profits and lo