From Weekly Market Pulse published on 22 Oct: Global port congestion rebounded after the sharp retreat a week ago, with rising volumes after the Golden Week holidays in China pushing up the workload at Chinese terminals. Most of the backlog has been cleared at Chinese main ports with delays at Qingdao, Ningbo and Shenzhen down to within 1 day but Shanghai still faces berthing delays of up to 2 days although that is also down from a peak of up to 5-6 days in September. US East Coast ports still
From Weekly Market Pulse published no 22 Oct: Asia-Europe carriers are pushing ahead with the 1 Nov rate hike, with higher spot rates offers already spreading through the market. Volumes are recovering after the Chinese holidays helped by pre-GRI bookings to avoid the higher tariffs in November. Average utilization for vessels in the Far East-North Europe service that departed last week reached 97%, the highest level since 2Q 2024 with capacity still constrained due to post-Golden Week blank sa
From Weekly Market Pulse published on 22 October: Shanghai-North Europe freight futures continued to rally on 21 October with long-dated EC contracts from December 2024 through August 2025 rising by 7-15% on November rate hike expectations. Carriers have raised their online freight quotations in anticipation of the 1 November 2024 rate hike with CMA CGM advancing the date for the higher spot rates from November 1 to October 25 as it seeks to take advantage of the strong pre-GRI bookings. The b
From Weekly Market Pulse published on 22 Oct: Year to date new containership deliveries have already surpassed last year’s record of 2.3m teu with 2.5m teu already handed over this year and a further 0.5m teu is still due to be delivered before the year is over. Full year fleet growth is expected to reach 10.1% with limited scrapping and delivery slippage. Just 78,200 teu have been scrapped so far this year, with the current run rate at less than 5,000 teu deleted each month as the strong dema
Market is going see-saw debating whether the higher freight rates post 1 November will be sustainable. Yesterday, the main contract i.e. EC2412 was down 9% to its lowest, still reacting to HMM's undercutting, before recovering half of the loss in the last 30 minutes. Today, the main contract continued to rebound to get back to the level on par with Monday close. Utilization has been getting better since Golden Week holidays but the doubt among traders is whether such improved loading is just b
Just when the EC market wanted to take a pause today, HMM's quotation released this afternoon (22 October) with $4,106 per 40'dc Shanghai-Rotterdam for shipments departing on 5-6 November dropped the EC market. Every contracts closed in red where EC2504 dropped 9.4% for the day. Online quotations otherwise came out mostly bullish with CMA CGM and ONE released their quotations for the second half of November departures at $5,060 per 40'dc and $4,704 per 40'dc respectively. The new utilizatio
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202443] Container freight rates have dropped continuously in the past 3 month with the SCFIS Shanghai to North Europe index down by 65% from its peak in July but EC freight futures for December are now trading at a 45% premium to the current spot rates, indicating an imminent inflection point for the freight market. Although freight rates are expected to reverse their declines in November as carriers implement a new series
EC contracts edging up to the recent high on average volume. CMA CGM raised its online quotations to $4,460/FEU for vessels departing 25th and 31st Oct while liners mostly keep their quotations unchanged. Utilization for vessels departed between 17th and 20th October continued to show improvement from the early October drop. FE-N.EUR Head Haul
Regional Container Lines (RCL) will launch a new RCL Vietnam Philippines (RVP) service connecting Ho Chi Minh City, Ilo Ilo, Ho Chi Minh City from 25 October 2024 with the geared 628 teu ORA BHUM. The service will operate on a rolling 9-10 day round trip rotation.
Regional Container Line (RCL) and Bengal Tiger Line (BTL) have launched a new RCL West India-Gulf (RWG) service connecting Mundra, Nhava Sheva, Jebel Ali, Umm Qasr, Mundra. The RWG service will turn in 21 days and will deploy 3 ships of 2,500-2,700 teu starting with the 2,588 teu VIRA BHUM at Mundra on 16 October 2024, followed by the 2,702 teu INTERSEA TRAVELER. Port rotation of the new RCL West India-Gulf (RWG) service