EC opened lower but then recovered throughout the day, supported by decent volume and increasing open interest. The main contract, EC2412, ended the day higher, while longer-dated contracts declined, following yesterday's trend. The main delta today in liner's online quotations were ONE's lifting its online quotations, and COSCO published its November rates at $4,800 per 40-foot container. Average utilization for alliance vessels departing from the Far East continues to increase. The MUNICH MA
Taiwanese carriers’ aggregated September revenue dropped by 17% from the August peak, but remains 84% higher compared to September 2023. For the July-September quarter, their combined 3Q 2024 revenue is up 43% QoQ and 107% YoY.
Shanghai-North Europe freight futures have rallied since 10 October with traders placing their bets on a rate rebound in the next 2 months. December 2024 contracts are now trading at a 16% premium over October on expectations that carriers will be able to secure part of their planned rate increase in November and hold the higher rates through December on the back of firmer year-end cargo demand. However, the post-Chinese New Year rate rally have fizzled out with forward rates for April, June and
Carriers’ reluctance to pull out more capacity in the last 2 weeks have hurt their efforts to hold rates post Golden Week as Asia-Europe rates continue to weaken with the SCFIS registering a 10.2% decline on Monday following last week’s 15.9% decline. Although rate surveys suggest a small uptick in carriers’ quotation, there are still some carriers offering aggressive rate discounts of below $3,000/feu. Several carriers have announced rate hikes from 1 November aimed at raising spot freight ra
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202442] Freight rates have continued their decline with the slack season now in full swing. The heavy front-loading of holiday season cargo for the US and Europe that have driven up shipping rates since May are now working in reverse but carriers have still not adjusted vessel capacity for the winter season with only limited blank sailings planned in the next 6 weeks. This is clearly seen in the Asia-North Europe, US West
Container freight futures being traded in Shanghai continue their rally this morning as liners started to revise up their online FAK quotations and the utilization for vessel departed over the weekend showed sequential improvement. Next data point is the SCFIS to be released at 3pm today. The last SCFIS suggests a freight rates of around $4000 per 40' container. The likely freight rates for last week, for which today's SCFIS will be based, could drop to $3600-3700 i.e. 8-10% WoW drop. Liners
MSC will restart the Koala service from 30 October 2024 to provide connections between Shanghai, Hong Kong, Jakarta, Fremantle, Jakarta, Shanghai. The revived service will turn in 4 weeks and will deploy 4 ships of 1,500 to 2,500 teu starting with the 1,550 teu MSC QINGDAO F at Shanghai on 30 October, followed by the 1,800 teu MSC SIJING together with the 2,556 teu pair MSC HANISHA III and MSC LUCIA III. The move follows the suspension of the Capricorn and Kiwi Express services in August 202
There was a significant rally in the EC this morning. Most of the strength was seen in December contract, with the liner's FAK rate quotations for shipments departing in November being higher than those for shipments leaving this month. However, quotations for shipments departing on the same dates were mostly revised downward overnight. We spoke with various cargo owners, and most anticipate a sequential increase in volume in November. This suggests that the market could be moving out of the s
The onshore container freight futures rebounded this morning as shipping lines attempted to raise freight rates by $500 per FEU starting November 1. CMA CGM, Hapag-Lloyd and ONE have increased their online quotations for November shipments. Other shipping lines have not yet posted their freight rates for November, while Maersk has reduced its October FAK freight rates from $2,900 per FEU to $2,600 per FEU. We maintain our view that Asia-North Europe freight rates could test the $2,000/FEU leve
MSC will add a new call at Haiphong on the Chinook service from 23 October 2024. The revised Chinook rotation will call at Haiphong, Yantian, Shanghai, Qingdao, Busan, Vancouver, Seattle, Portland, Haiphong and will turn in 8 weeks using 8 ships of 6,400 to 9,600 teu. Zim also takes slots on this service as the ZIM North Pacific (ZNP) service. Revised Chinook port rotation from 23 October 2024