Hapag-Lloyd will pay approximately $1 Bn to acquire 100% of the shares of SAAM Ports and SAAM Logistics as well as real estate assets related to the logistics business of Chilean ports and towage company SAAM. SAAM expects to book a net profit of $400 m on the deal that was signed on 4 October 2022. The transaction includes the sale of SAAM’s ownership stake in ten port terminals across six countries in the Americas, bonded warehouses and integrated logistics operations in South America. Detai
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202239] Spot rates have continued to soften going into the Golden Week holidays in China, with further rate reductions expected in October as demand remains weak and ad-hoc blank sailings having no material impact. Capacity cuts announced so far are still not enough to stem the rate falls, with the planned withdrawals accounting for just 7% of USWC capacity and 1% of USEC capacity, and will be offset by the reduction in port
Hapag-Lloyd has introduced a new Chittagong Colombo Feeder (CCF) service starting from 23 September 2022 with the 1,740 teu HANSA RENDSBURG at Colombo. The service is aimed at relay connections at Colombo to Europe and North America destinations from Bangladesh. Hapag-Lloyd CCF port rotation
China United Lines (CUL) will consolidate their 2 separate FE-USWC transpacific services into a revised Transpacific Express II/South China-West US (TPC) service that will call at Qingdao, Shanghai, Ningbo, Nansha, Yantian, Los Angeles, Qingdao. The service will deploy 6 ships of 4,300-4,700 teu. The consolidated service will absorb the Transpacific Express (TPX) service that was jointly operated with Shanghai Jinjiang (SJJ) that had called at Shanghai, Los Angeles, Shanghai. The last SJJ opera
Maersk has suspended the TP28 transpacific service that called at Cai Mep, Yantian, Ningbo, Shanghai, Houston, Norfolk, Cai Mep with the last sailing from Cai Mep scheduled on 13 October 2022 with the 4,431 teu MERKUR ARCHIPELAGO. The TP28 service was launched only in April 2022 and has been running irregularly using ships of 4,200-5,900 teu, with an average weekly capacity of less than 2,000 teu. The service will be merged into the revised TP20 that will call at Jakarta, Cai Mep, Shanghai, N
Maersk and MSC have suspended their jointly operated TP3/Sequoia transpacific service, with the last sailing made by the 14,036 teu MSC SAVONA from Shanghai on 22 September 2022. The service called at Ningbo, Shanghai, Los Angeles/Long Beach, Ningbo using 6 ships of 11,000-15,000 teu running on an 8 week rotation. The suspension will remove an average of 11,907 teu weekly on the trade. The TP3/Sequoia will be merged with the TP2/Jaguar service with the rotation revised to call at Shekou, Nansh
Matson's China-California Express (CCX) made its last sailing from Shanghai on 4 September 2022 with the 3,600 MATSONIA. The CCX was launched in 29 June 2021 and called at Ningbo, Shanghai, Oakland, Long Beach, Honolulu, Ningbo. The service was operated with 3 ships of 2,824-3,600 teu on a 5 week rotation, with 2 blank sailings in each cycle. The withdrawal will remove 2,005 teu weekly from the route. The 3 ships previously deployed on the CCX has been redeployed to the USWC-Honolulu service -
The SCFI composite index has fallen by 59% from its peak in January 2022, but rates remain elevated against their historical averages despite the recent drops. In 2019, the composite index stood at just 811 points compared to 2,072 points currently. Rates from China to South Africa, Europe, South America and Australia in particular are all expected to come under pressure over the coming weeks as they remain well above their 2019 average. In week 38, spot rates to the US West Coast continued to
Port congestion is no longer providing any supply side support as congestion is easing across Asia and North America. Congestion at the main Eastern China ports of Shanghai and Ningbo, as well as in Bohai and South Korea dropped to half of their previous week’s highs, as the backlog of ships delayed by the North Asia typhoons of the past 2 weeks were gradually cleared up. The reduction in congestion in North Asia ports has brought down global congestion levels to 10.9% at the end of last week,
French carrier Marfret will launch a new Egypt-Italy Express service that connects Genoa, Salerno, Alexandria, Genoa. The new service will deploy the 390 teu LYDIA that has just rejoined Marfret at the end of August 2022 and is currently deployed on the FluvioFeeder/Lydia Feeder service running between Le Havre and Rouen. The new service is scheduled to start from Genoa in mid October 2022 and is targetted at the reefer fruit exports from Egypt, with Marfret positioning 200 new reefer container