All News

Ships

Charters Rates Fell Sharply

Charter rates recorded sharp falls last week, with the negative sentiment in the freight markets finally filtering through to the charter market. With freight rates rapidly collapsing across all tradelanes, charter rates are belatedly catching up with further rate falls to follow given the rising number of vessels available spot and on a prompt basis. Shorter period charters of up to 6 months are no longer commanding any premiums over 12 month rates, while the gap on 24 month rates are also na

Ports

Earliest Throughput Data in Asia Points to Sequential Drop

August throughput volumes reported so far continue to show weakness, with month on month (MoM) declines. Shanghai port has reported a -3.0% MoM drop compared to July volumes and a -3.4% YoY drop compared to August last year, in an early indication that overall volumes are already softening even though most of the main ports have not yet reported their August handling volumes. Singapore reported -0.7% MoM while Hong Kong reported -3.2% MoM for August.

Markets

WK37 SCFI still lags spot market

The SCFI assessment of $3,050/feu to the US West Coast remains higher than latest market rates offered by carriers that have already dropped below $2,500/feu and will soon breach the $2,000/feu level, ensuring further SCFI downward revisions in the coming weeks. USWC rates have collapsed completely, and contract rates have also been annihilated with various carriers already agreeing to revise full year contract rates to match the current spot  market rates in order to protect their volume share

Markets

Earnings good in 3Q but material downside coming in 4Q

Freight rates continued their spectacular collapse last week despite the severe port congestion that has built up in North Asia due to Typhoon Muifa, with the SCFI slipping by 33% within the past 4 weeks and down 50% year on year. Vessel utilisation on head haul routes have continued to drop despite shortfalls in ship departures, with carriers lacking resolve to remove excess vessel capacity in the market beyond ad hoc blank sailings that have been ineffective in curbing the rate drops. Yet, ca

MarketPulse

Market Pulse – 2022 Week 37

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202237] Freight rates continued their spectacular collapse last week despite the severe port congestion that has built up in North Asia due to Typhoon Muifa, with the SCFI slipping by 33% within the past 4 weeks and down 50% year on year. Vessel utilisation on head haul routes have continued to drop despite shortfalls in ship departures, with carriers lacking resolve to remove excess vessel capacity in the market beyond ad h

Services

Vasi Shipping launches Haiphong Singapore Service (HSS)

Vasi Shipping has launched a new Haiphong Singapore Service (HSS) using the 1,200 teu CAPE FLORES that has just joined Vasi on a 12 month charter at $35,000 per day after ending its previous charter at Rif Line/Kalypso. The HSS started on 13 September 2022 at Haiphong at the Nam Hai Dinh Vu terminal with sailings to be provided every 9-10 days.

Services

Tehama launches TIX after break up with Marsa Ocean Shipping

Dubai-headquartered Tehama Shipping Services (TSS) has launched the Tehama India Express (TIX) service that connects Jebel Ali, Mundra and Nhava Sheva. The new service was launched on 2 September 2022 at Jebel Ali with sailings every 11-12 days using the 2,764 teu TSS SHAMS. The TSS SHAMS was previously offering ad hoc sailings between the UAE and Western India connecting Jebel Ali, Sharjah, Mundra and Pipavav. TSS is part of Saba Group which operates a container terminal at Iraq’s Umm Qasr So

Services

Interasia to launch New Japan-South China Service (NST)

Interasia is starting a New Japan-South China Service (NST) connecting Tokyo, Yokohama, Nagoya, Nansha, Shekou, Tokyo starting from 9 November with the 990 teu BF PERCH. The service will turn in 2 weeks with a second ship, the 1,008 teu IAL 001 expected to be deployed.

Services

X-Press Launched BSX

X-Press launched Belawan Straits X-PRESS (BSX) that connects Singapore, Port Klang, Belawan, Singapore on weekly basis with a 610 teu BIENDONG FORTUNE. The service has already been started with BIENDONG FORTUNE at Pork Klang on Sep 14. source: X-Press

Companies

AD Ports completes IACC acquisition

AD Ports Group has completed its first international acquisition on 14 September 2022 with the purchase of a 70% stake in the Egyptain company International Associated Cargo Carrier (IACC) which fully owns Transmar International Shipping Company and Transcargo International (TCI). Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa while TCI is a terminal operator and stevedoring company, mainly operating out

© 2023 Linerlytica (ver. 1.0.16). All rights reserved.
Liner Analytics Pte. Ltd.