Global port congestion increased to 12.4% as at 19 June 2022, with congestion picking up again in Chinese ports especially around Ningbo, Shanghai and Qingdao.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202224] Spot freight rates fell last week with recession fears dampening peak season demand. Although demand is picking up, overall capacity on transpacific routes have increased materially in the past week and has outpaced demand as some carriers are offering rates below $7,000/feu to the West Coast. The window for the next transpacific rate hike has been pushed back to mid-July, but its success will depend on how strong ca
CNC, PIL and RCL will launch a new weekly service connecting Xingang, Dalian, Incheon, Qingdao, Shanghai, Laem Chabang, Ho Chi Minh City using four ships of 2,400-2,800 teu. The service will start at Xingang on 1 July with the 2,478 teu APL CAIRO.
PIL and partners enhance Gulf China Service, with ESL to join in JulyPIL has announced an enhancement to the Gulf China Service (GCS) with the addition of new calls at Shanghai and Singapore.
SITC launched new service, E-Commerce Express 1 service (EPX1), that covers port rotation Xiamen-Manila-Xiamen with one ship PHUC THAI (698 teu).
The service, South Turkey - Israel - Egypt To USA service, have started in May, going through port rotation, Mersin, Iskenderun, Haifa, Damietta, Savannah, Charleston, Freeport (Bah), Derince, Mersin.
The new service, Gulf China 2, is starting on 18 June with KOTA LOCENG (4330teu) calling Ningbo.
The Allseas Group has launched the Allseas Shipping Company on 13 June 2022 to provide shipping services, teaming up with container equipment provider 1st Containers in the UK. Although Allseas claim to be the first British registered shipping line to be launched in 4o years, it actually follows the re-launch of the Ellerman Lines brand in June 2021 by the Uniserve group of companies. Allseas will continue to develop the China Xpress service that was launched in April 2021 which has been expan
The alarmist reports of catastrophic demand drop are unwarranted. The recent weakness in smaller transpacific NVOCC bookings only reflect volume shifts as BCOs are able to book directly. Anyhow, demand has not picked up sufficiently...
The active containership fleet increased slightly over the past week due to the reduction in port congestion, with about 400,000 teu coming out of the congestion queue.