Market Pulse 2024 Week 08

Total 141 Posts

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 Carriers have not withdrawn sufficient capacity for the higher rates to stick despite the rapidly eroding earnings with Maersk becoming the latest casualty following Zim and Wan Hai to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

MarketPulse

Market Pulse – 2023 Week 43

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202343] Market sentiment has turned positive for the first time since August, with momentum building for the November freight rate hikes as further capacity cuts are forthcoming after THE Alliance decided belatedly to suspend the EC4 service to the US East Coast via the Suez in November. This follows earlier cuts made by various carriers on the USWC and Europe routes that have helped to elevate carriers rate restoration effo

MarketPulse

Market Pulse – 2023 Week 42

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202342] The EU’s withdrawal of the Consortia Block Exemption Regulation (CBER) for liner shipping will strengthen rather than weaken existing carrier alliances, with OCEAN and THE Alliance members now less likely to break up their current cooperation before the expiry of the current agreements in 2027. Carriers were able to reverse the decline in freight rates with the SCFI registering its first weekly rise since early Augu

MarketPulse

Market Pulse – 2023 Week 41

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202341] Carriers’ efforts to lift freight rates in November has little chance of succeeding in the absence of capacity withdrawals. Initial projections for November show capacity increases on the Transpacific and Asia-Europe routes of between 7% to 17% MoM that largely reverses the capacity reductions in October. MSC has taken delivery of 3 new ships of 16,000-24,000 teu over the past 2 weeks that will remain idle for 3-4 w

MarketPulse

Market Pulse – 2023 Week 40

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202340] The SCFI slipped to its lowest levels since May 2020, with further falls expected in the coming weeks as volumes remain lacklustre. Carriers are still unwilling to make decisive capacity cuts despite the rate slump and absence of cargo roll pools before the start of the Chinese Golden Week holidays on 1 October. Maersk in particular have been singled out for giving heavy discounts on its spot pricing even as it cont

MarketPulse

Market Pulse – 2023 Week 39

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202339] The early end to the summer peak season has brought the container market back to reality, with the SCFI retesting fresh lows even before September is over. Further rate declines in October will follow despite the reduction in capacity next month with carriers unable to generate any significant cargo roll pools ahead of the Golden Week holidays in China. Severe rate discounting especially on the Asia-Europe route has

MarketPulse

Market Pulse – 2023 Week 38

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202338] Container market sentiment continues to deteriorate, with freight rates still slipping with little prospects for a rate rebound in October despite carriers’ efforts to contain capacity availability through blanked sailings. The planned capacity cuts over the Golden Week holidays in October are still smaller than the capacity removed during the Lunar New Year holidays in February this year, and are insufficient to ste

MarketPulse

Market Pulse – 2023 Week 37

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202337] Container freight rates are dropping at a faster rate than expected with the SCFI slipping below 1,000 again, giving up all of the gains made in the last 7 weeks. Weak peak season volumes coupled with oversupply across the main markets have weighed down heavily on rates with little chance of a reversal until November at the earliest. Carriers inability to curtail supply remains the biggest challenge, as capacity util

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