Market Pulse 2024 Week 08

Total 118 Posts

MarketPulse

Market Pulse 2024 Week 01

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202401] The Red Sea crisis dominated another frenzied week for the container shipping market with the SCFI rising by 40% - only the 4th time since 2009 that spot freight rates jumped by more than 40% in a single week. All long haul routes recorded strong rate gains led by the Asia-Europe trades, with the elevated rates expected to hold through January and February as capacity will remain tight in the next 6 weeks. 12% of glo

MarketPulse

Market Pulse 2023 Week 52

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202352] The SCFI surged by 14.8% on the back of the Red Sea turmoil to hit a 13 month high, with a looming capacity crisis set to erupt over the coming weeks as ships that were supposed to return to Asia from Europe and the US East Coast via the Suez are delayed by 2 to 3 weeks. This will coincide with the high cargo demand expected in the run up to Chinese New Year, with freight rates expected to remain elevated through mid

MarketPulse

Market Pulse 2023 Week 51

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202351] Several carriers have paused Red Sea transits over the last 4 days but diversions to the Cape route are limited to Israel-linked ships at the moment. Barring a naval convoy solution, carriers could be forced to divert all ships to the Cape route which would raise teu-mile demand by at least 2.5m teu or 9% of the global fleet that would result in an immediate capacity shortage. Spot freight rates have started to rise

MarketPulse

Market Pulse 2023 Week 50

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202350] The SCFI climbed for the second successive week led by strong rate gains on the Asia-Europe route that are likely to hold through December on stronger capacity utilisation backed by the traditional year end cargo demand. Transpacific rates are on weaker ground with the disruptions on the Panama Canal failing to keep rates steady to the East Coast. THE Alliance carriers are paying a heavy price after failing to secure

MarketPulse

Market Pulse – 2023 Week 49

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202349] The turmoil at both ends of the Suez and Panama passage have forced containerships to divert from their regular routes, as ships linked to Israeli interests are avoiding the Red Sea passage through the Suez Canal even as some of te neo-panamax ships on the Far East-US East routes are shifting to the Suez route to avoid the congested Panama Canal. While these moves will help to absorb some of the surplus ships, the im

MarketPulse

Market Pulse – 2023 Week 48

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202348] Carriers are making a last ditch attempt to raise freight rates ahead of the 2024 contract season, as carriers announced rate hikes on 1 December and 15 December 2023 with some initial success on the FE-Europe routes. However, the composite SCFI index continued to slip last week and all of the gains from the last 4 weeks have been erased with carriers making little efforts to curb capacity growth. The heightened ten

MarketPulse

Market Pulse – 2023 Week 47

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202347] The global containership fleet has passed 28m teu last week, with total new ship deliveries since the start of this year reaching 1.94m teu. More than 1 new ship has been delivered each day since June this year, with the same pace to continue through the next 12 months. Carriers are facing a difficult time maintaining recent freight rate gains in the face of the capacity influx, with vessel scrapping and idling remai

MarketPulse

Market Pulse – 2023 Week 46

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202346] The reversal of the freight rate hikes in early November has intensified with carriers slashing rates mid-month as new capacity continues to move back into the market. In particular, the capacity additions on the US West Coast by Zim and CMA CGM are set to undermine the capacity cuts made earlier by THE Alliance, with transpacific rates coming under the most pressure last week and further rate weakness is expected in

MarketPulse

Market Pulse – 2023 Week 45

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202345] The SCFI rally is coming to an end after 4 consecutive weekly gains, with spot freight rates already starting to slip even as carriers eye a new round of rate hikes in December. Carriers have not withdrawn sufficient capacity for the higher rates to stick despite the rapidly eroding earnings with Maersk becoming the latest casualty following Zim and Wan Hai to have reported quarterly EBIT losses this year. Carriers c

MarketPulse

Market Pulse – 2023 Week 44

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202344] Spot freight rates have rebounded strongly on the back of capacity cuts but the sustainability of the rate hikes will be tested over the coming weeks as carriers are still reluctant to remove excess capacity. In notable contrast to THE Alliance and 2M, the OCEAN Alliance have failed to take any concrete capacity reduction actions which could trigger an eventual push back from its rivals. New vessel deliveries in Oct

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