Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202449] Container freight rates are still on track to stage a December rally, although initial gains on the Asia-Europe, Middle East and Intra-Asia routes have been tempered by continued weakness on the Transpacific and Oceania routes. Carriers’ efforts to push ahead with various rate hikes in November and December have stemmed the rate reductions of the previous 3 months, giving the carriers an improved bargaining position
Jinjiang Shipping, OOCL, Sinokor and SITC will jointly launch a new Far East-India service that will be branded respectively as South China-East India (CSI)/Far East Chennai Service 3 (FCS3)/Sinokor India Service 3 (SIS3)/Far East-India Express 2 (FIE2). The service will start from 2 December 2024 to call at Nansha, Shekou, Ho Chi Minh City, Laem Chabang, Port Klang (WP), Chennai, Port Klang, Nansha. It turns in 4 weeks using 4 ships of 2,400 to 2,800 teu with each partner contributing one ship
The SCFI released after the market close last Friday jumped by 22% week-over-week but remains below the current price of EC2412, implying $5,500 per FEU. While the overall SCFI index tends to follow its own trend, SCFI Europe does not show the same sensitivity to trends. In the past 15 years, the SCFI Europe has rallied over 20% week-over-week 46 times, with 28 of those rallies followed by a decline the following week. Utilization for most vessels that departed over the weekend tracked below t
CMA CGM will add a new Maya Feeder (MAYAFD) service connecting Lazaro Cardenas, Puerto Caldera, Corinto, Acajutla, Puerto Quetzal, Lazaro Cardenas from 2 January 2025. The service will turn in 14 days using 2 ships to provide weekly connections between the 5 ports starting with the 1,577 teu CMA CGM SURABAYA and the 2,345 teu MAGDALENA SCHULTE.
CMA CGM and X-Press Feeders have launched a new Ceylon Chittagong Service (CBS)/Upper Bay of Bengal - Loop 3 (UBB-Loop3) service connecting Colombo, Chittagong, Colombo from 2 December 2024. The CBS/UBB-Loop3 turns in 14 days using 4 ships of 1,500-1,700 teu with CMA CGM contributing 1 of the 4 ships starting with the 1,714 teu SANTA LOUKIA, whil X-Press Feeders will deploy the 1,577 teu SMOOTH VENTURE together with the 1,756 teu X-PRESS NILWALA and MOUNT CAMERON.
The EC2412 and EC2502 experienced a gap down at the open but have since recovered some of their losses, as EC traders maintain hopes for a freight rate increase this weekend. Contrary to the consensus in the EC market, we believe that the December 1st rate increase is unlikely, as liners are still quoting rates below $4,000 per FEU for shipments departing on November 30. The moving average utilization rate has improved slightly, aided by the fully loaded MADISON MAERSK that departed Tanjung Pel
EC contracts are mostly up 1-3% on thin volume this morning. There are no long buyers, and short sellers are hesitant to place their bets before the imminent release of the SCFI, which is expected after the market closes tomorrow. If the online quotations from the liners are accepted by any shippers, the SCFI is projected to jump by 37% this week (from 2,481 to 3,400). However, we doubt that the SCFI panel, which includes a large group of forwarders from China in addition to the international l
Port congestion is clearing across the board as the global fleet currently tied up at anchorages has dropped below 2.1m TEU from the October peak of 3.0m teu. Ports in North Asia have seen the biggest improvements as they continue to clear out the waiting queue of ships after the recent spate of typhoons that hit the region in the last 2 months. Although delays of up 2 days are reported at several main hubs including Shanghai, Ningbo, Qingdao and Busan, the situation continues to improve with no
EC market range bounce this morning after two consecutive days of sell-offs. Liners are still cutting their target freight rates increase over the past two days that now they are aiming to lift the freight rates to high $5,000 per FEU instead of $6,000 per FEU as previously planned for Far East - North Europe shipments embarking after 1 December. The spot freight rate for shipments embarking this week is about $4,000 per FEU, far from the $5,500 per FEU that the liners planned to achieve. Latest
Market Pulse Week 48: Zim reported net profits of $1.13 Bn and EBIT of $1.24 Bn for the 3rd quarter of 2024, concluding the reporting season for the publicly listed carriers. Zim’s EBIT margin of 44.7% puts it in 4th place behind EMC, HMM and Yang Ming but Zim delivered the highest annualized RoE of 115% in Q3 2024 - twice that of the second-best performer EMC and more than 4 times more than the industry average ROE of 25%. Market Pulse Week 47: Asian carriers have outperformed their European p