Market Pulse 2024 Week 08

Total 112 Posts

MarketPulse

Market Pulse – 2023 Week17

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202317] No sooner had the transpacific rates rebounded than the carriers started to cut rates again, in a pattern that will likely be repeated over the coming months. The SCFI spot rates to the US West Coast slipped 2% last week after rising by 29% a week earlier. Another attempt to raise freight rates will be made in mid-May, with carriers already deferring the 1 Mayaa GRI due to the Labour Day holidays as cargo volumes are

MarketPulse

Market Pulse – 2023 Week16

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202316] Freight rates have rebounded strongly on the back of the mid-April GRI, with the SCFI up 8% last week due mainly to rate increases on the Transpacific, Middle East and Latin America routes. Transpacific spot rates increased by 29% to the US West Coast to over $1,600/feu, providing carriers some leeway to negotiate contract rates at $1,400-1,500/feu – a level that would not be possible to achieve if spot rates had rem

MarketPulse

Market Pulse – 2023 Week15

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202315] Market sentiment continues to turn positive, led by Transpacific carriers that have announced GRIs on the Asia-US trade that will push spot rates up by $600-1,000 per feu on 15 April. Capacity utilisation on the US West Coast routes have risen in the last 2 weeks with supply still limited by blanked sailings, which would provide support for the GRI push that will mark the first significant rate rebound since July 202

MarketPulse

Market Pulse – 2023 Week14

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202314] Market sentiment turned positive for the first time since September 2022, with rising conviction around a mid-April rate increase on some key routes. Carriers are making a last-ditch effort to raise spot rates on the Transpacific ahead of the 1st May contract season with rates expected to rise by $500-600/feu. The SCFI rebounded marginally last week on improved rates in the Middle East and Latin America on the back

MarketPulse

Market Pulse – 2023 Week13

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202313] Freight rates remain soft, with the SCFI resuming its weekly decline after the previous week’s gain with the Asia-Europe trade the only main market where carriers can push rates increases. In contrast, charter rates have rebounded with demand from carriers staying high while the number of idled ships are quickly diminishing. Carriers are gearing up for the summer deployment that begins in earnest from April and May,

MarketPulse

Market Pulse – 2023 Week12

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202312] The SCFI recorded its first weekly gain since December 2022, but the rebound lacks any real strength with the rate gains limited to the China to Europe and Med routes where capacity utilisation has been very high since the beginning of this year. Utilisation on most of the other key routes remain weaker than 2022 levels, with the weakness especially apparent on the FE-US West Coast trade. The latest February port vol

MarketPulse

Market Pulse – 2023 Week11

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202311] The torrent of new containership deliveries has started with MSC setting new ship size records twice last week, with more ULCS units to come in the weeks ahead. MSC has widened its gap against Maersk to 587,000 teu with the divergence even greater if idled capacity is taken into account. Maersk has 298,000 teu currently idled compared to just 68,000 teu from MSC, with the burden of idling excess capacity unevenly sha

MarketPulse

Market Pulse – 2023 Week10

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202310] Further freight rate corrections can be expected with US port congestion now effectively cleared while the residual congestion in China and Europe are no longer causing any severe bottlenecks for the global container supply chain. Chinese ports are mostly fluid with the recent buildup of ships in Shanghai/Ningbo due more to scheduling than berthing delays, while European congestion is mostly limited to French ports d

MarketPulse

Market Pulse – 2023 Week09

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202309] Containership charter market activity is picking up with carriers pushing ahead with new capacity plans despite the soft freight market. Maersk continues to lose ground with the highest number of ships idled at the moment while MSC is still taking on fresh charters and second hand acquisitions despite also having a number of idled ships. Demand is mismatched across different sizes, with the surplus ships over 5,000 t

MarketPulse

Market Pulse – 2023 Week08

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202308] The sharp drop in transpacific capacity utilisation has weighed down market sentiment as carriers continue to drop rates in response even on routes where utilisation remain relatively healthy. Capacity management measures have been completely ineffective in halting the rate decline, as the expectation of a demand rebound is keeping capacity in the market for longer than required. The SCFI slipped by 2.1% last week, w

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