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
Container freight futures for February 2025 contracts came under heavy selling pressure as it hit the maximum daily limit down of 16% on 25 November on high trading volumes due to rising fears of a Middle East ceasefire as container rates are expected to falter further by February due to the post-Lunar New Year slack. The current EC2502 price of 2,722 still suggests freight rates around $4,000 per FEU. The December 2024 contracts continue to be supported by carriers’ planned December rate hikes
The SCFI and SCFIS continues to move in opposite directions for the 3rd straight week with the SCFI continuing to retreat while the SCFIS remains in ascendance. Actual settled rates reflected in the SCFIS are still catching up with the full effects of the initial November rate hike, while carriers’ current quotations in the SCFI reflects the recent rate weakness as carriers scale back from their initial $4,500/feu asking rate to the current benchmark of $4,000/feu. However, the SCFI is expecte
MSC’s sweep of second-hand containership tonnage since 2020 has brought its total resale vessel acquisitions in the last 4 years to more than 420 ships. MSC’s unprecedented acquisition spree has removed more than 17% of the total fleet that are available for charter in the 800 to 15,000 teu size segment and has been a key driver behind the sharp rebound in charter rates this year. The shortage of charter market ships have forced carriers to fix forward for their favoured tonnage with deliveries
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202447] Container freight rates continue to slip with cargo front loading ahead of the new Trump tariffs providing little relief to the market. The US West Coast suffered the sharpest rate drops despite healthy volumes being recorded from Asia as capacity deployed continues to outpace the rise in demand. Carriers are targeting a fresh round of rate hikes in December with support from a rise in cargo volumes ahead of the US t
EC main contracts are down this morning, as data released over the past few days does not support an imminent 50% increase in freight rates for the FE-North Europe route. Since our last Daily CoFIF on November 22, 2024, liners have been reducing their online quotations. While utilization for alliance services remains high at 97%, consistent with the year-to-date average, the overall average utilization has been trending downward after reaching a recent peak last week.
ONE will launch a new Scandinavia Express (SCX) service connecting Rotterdam, Gothenburg, Helsingborg, Aarhus, Copenhagen, Antwerp, Rotterdam from 19 December 2024. The SCX will turn in 2 weeks with the 1,440 teu CAPE FERROL and 1,781 teu LANGENESS.
ONE will launch a new Levant Express (LEX) service connecting London Gateway, Rotterdam, Hamburg, Antwerp, Alexandria, Damietta, Mersin, London Gateway from 13 January 2025. The LEX service willl turn in 4 weeks using 4 ships of 2,600-2,800 teu starting with the 2,741 teu LORRAINE at London Gateway on 13 January 2025.
SeaLead has launched a new Dubai-Kenya (DUKE) service connecting Karachi, Jebel Ali, Mombasa, Karachi from 4 November 2024. The service will turn in 2-3 weeks and will deploy 2 ships initially starting with the 1,118 teu CONTSHIP UNO and DEVON.
While the moving average utilization for vessels departing from the Far East remains high, the AE55's MSC TESSA, which departed yesterday, registered only 91% utilization—7 percentage points below the moving average. Far East - North Europe Head Haul Vessel UtilizationSince our last Daily CoFIF on November 14, the liners have reduced their quotes for November shipments while increasing their quotes for December shipments, which does not inspire much confidence in the December 1 GRI.