Red Sea

Services

Folk Maritime and CMA CGM to launch North Red Sea (NRS/NRX) service

Folk Maritime will team up with CMA CGM to launch a new North Red Sea (NRS)/North Red Sea Express (NRX) service from 9 April 2024. The NRS/NRX will call at Jeddah, Neom, Sokhna, Aqaba, Yanbu, Jeddah using 2 ships of 1,600-2,000 teu, starting with the Folk Maritime chartered 2,045 teu JIN SHUN HE, followed a week later by the 1,641 teu APL SAIPAN from CMA CGM. Folk Maritime is a new carrier established on 26 February 2024 in Riyadh to operate feeder and short sea services connecting ports in  S

Services

Summit Shipping and Peak Shipping launch new Red Sea links

Peak Shipping, the Xiamen based affiliate of Summit Shipping, has launched a new China-Yemen Express (CYE) service connecting Ningbo, Shekou, Port Klang, Aden, Djibouti with the 713 teu JI ZHE 2 from 28 January 2024. Summit Shipping Line was established in Singapore in October 2019 as a subsidiary of the Xiamen Port Group. It operated initially as a NVOCC (Non-Vessel Owning Common Carrier) using slots from common feeder and linehaul operators in the Intra-Asia and South Asia routes. It began it

Markets

Red Sea crisis has absorbed over 1.2m of containership capacity

Conflicting signals abound in a market looking for fresh directions, with freight rates continuing to slide as the SCFI dropped by 4.7% last week bringing the  cumulative decline to 15.8% since its January peak. However, charter rates continue to firm while second hand vessel prices are still rising as demand for tonnage remains high. The recent freight rate correction has not deterred new entrants, with another Chinese carrier set to launch a transpacific service in March. Total containership

Services

Medkon and Turkon launched Red Sea Express Service/Türkiye Red Sea Service (RSX/TRS)

Medkon and Turkon have launched a new service connecting Turkey with the Red Sea from 3 March 2024. The new service is branded as Red Sea Express Service/Türkiye Red Sea Service (RSX/TRS) respectively by Medkon and Turkon to call at Iskenderun, Mersin, Jeddah, Aqaba, Iskenderun. The service will turn in 2 weeks using 2 ships of 1,100 teu starting with the 1,131 teu LEYLA KALKAVAN on 3 March 2024 followed by the 1,134 teu MEDKON PERLA will start on 13 March 2024.

Markets

Number of containerships on Cape route hit record high

The number of containerships diverted from the Suez to the Cape route has rebounded to a record high of 403 units for 5.14m TEU as at 25 February 2024. The recent surge was partly due to CMA CGM’s decision to reroute from the Red Sea since 1 February 2024 even though the French carrier has backtracked since then with the 16,022 teu CMA CGM JULES VERNE making an eastbound Red Sea passage last week, with a second ship (the 14,414 teu CMA CGM T. ROOSEVELT) scheduled to follow later this week despit

Services

Sidra Line adds Turkey Red Sea (TRS) service

Sidra Line has launched a new Turkey Red Sea (TRS) service from 10 February 2024 connecting Izmit, Ambarli, Iskenderun, Sokhna, Jeddah, Aden, Jeddah, Izmit. The service turns in 23 days and will deploy the 1,471 teu SIDRA AHLAM.

Port Congestion

Congestion Up Among Chinese Ports

Global port congestion picked up last week with rising waiting times observed in Chinese ports ahead of the Chinese New Year, with the longest delays seen at Ningbo where waiting times have stretched to 3 days, with shorter delays seen in Qingdao, Shanghai and some of the main Pearl River Delta ports. Delays at Australian ports remain high at up to 10 days at Brisbane, with slightly shorter delays also seen at Melbourne and Sydney. Congestion at North American ports is limited with LA/LB and N

Services

CMA CGM launch Red Sea Med Express (REDEX)

CMA CGM has launched a new Red Sea Med Express (REDEX) to connect the Red Sea ports of Aqaba and Jeddah to 5 key transhipment hubs in the Med. The REDEX will call at Aqaba, Jeddah, Tanger Med, Algeciras, Malta, Alexandria, Damietta, Aqaba. The 4,404 teu CMA CGM PUGET made the inaugural call on the REDEX for an ad hoc trip from Alexandria, Malta to Aqaba and Jeddah before settling into the regular REDEX port rotation. The service will turn in 28 days using 4 ships of 3,000-4,400 teu. The new s

Services

Feedertech, X-Press Feeders and Wan Hai team up on new Red Sea-Gulf-India (RGI/IM1) service

Feedertech, X-Press Feeders and Wan Hai have teamed up to launch a new Red Sea-Gulf-India (RGI)/India-Red Sea X-Press (IRX)/India Middle East 1 (IM1) service that connects Mundra, Nhava Sheva, Jebel Ali, Jeddah, Sokhna, Jeddah, Jebel Ali, Mundra from 15 January 2024. The RGI/IRX/IM1 service turns in 5 weeks using 5 ships of 1,800-3,200 teu with 2 ships each from Feedertech and X-Press (the 1,732 teu HANSA ROTENBURG and 2,824 teu ADDISON, together with the 3,158 teu X-PRESS ALTAIR and 2,756 teu

Services

MSC adds West Med to Red Sea service

MSC has launched a new West Med to Red Sea service connecting Barcelona, Gioia Tauro, Mersin, Jeddah, King Abdullah Port, Port Said, Barcelona. The service turns in 3 to 4 weeks and will deploy up to 6 ships of 4,800-6,800 teu with the first sailing by the 6,724 teu MSC MELISSA on 14 January 2024.

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