Hede Shipping has revised the rotation of its Hede US West Coast Direct Express 2 (HEX2) service to call at Huanghua, Shanghai, Los Angeles, Huanghua from 17 November 2024, with the former call at Ningbo dropped. The HEX2 is the first transpacific service to call at Huanghua in Hebei province in Northeastern China. The HEX2 currently deploys 5 ships of 1,700 to 2,800 teu, with a 6th ship expected to be added as the HEX2 rotation will increase from 35 days to 42 days.
FESCO has launched a new FESCO Black Sea service connecting Nansha, Rizhao, Ningbo, Shanghai, Novorossiysk, Nansha from 19 November 2024. The service will tun in 8 weeks and will initially deploy a single ship - the 1,660 teu HT JOURNEY with a second ship scheduled to join the service in February 2024.
Most EC contracts are down this morning as overnight CMA CGM slashed its online quotation for November shipments to low $4,000 per FEU from $5,460 per FEU . Tianjin Shipping Index, the only daily freight index, dropped 1.6% overnight. No new vessel utilization data today.
SeaLead will launch a new Asia and India-East Africa (ANIDEA) service calling at Shanghai, Ningbo, Nansha, Port Klang, Nhava Sheva, Mundra, Mombasa, Dar Es Salaam, Shanghai from 24 November 2024. The service will replace the existing India-Dubai-East Africa (IDEA) service, which will be extended to China and drop the connection at Dubai. The ANIDEA service will turn in 9 weeks and will operate initially on an irregular schedule using ships of 5-6 ships of 1,000 to 2,500 teu starting with the 2
Longer-dated EC contracts have rebounded as traders reassess the likelihood of a ceasefire in the Middle East, following reports that Israel has committed to continuing its military operations in Lebanon. Overnight, OOCL reduced its online quotation by 15-20%, now pricing shipments departing in November at $4,050 per FEU. This change comes as OOCL's DEMARK service left the Far East with utilization rates below 90%, which has pulled down the moving average utilization for alliance services that h
All EC contracts are down this morning, following a consistent trend since last Wednesday, where the longer-dated contracts have underperformed. Maersk released its quotations for December shipments at $6,000 per FEU, while MSC reduced its quotation for November shipments to $3,740 per FEU. Although the average utilization for the alliance services has reached new highs since June, independent services such as MSC's Britannia and Hapag-Lloyd's CGX have been trending downward. Far East-North Eur
EC container freight futures slumped on 11 November 2024 with the "Trump Trade" driving down longer-dated contracts on trade tariff concerns as well as a potential resolution of the Gaza crisis that could lead to the resumption of regular vessel traffic through the Red Sea. Near-term contracts for December 2024 and February 2025 slipped by smaller amounts after a brief rally at the end of last week as hopes for the pull forward of cargo bookings were dampened by carriers offering discounted rat
The SCFIS finally caught up with the recent spot rate hikes, rising by 11.8% on 14 November after 2 weeks of lackluster gains, reflecting the backward looking nature of the index that captures actual settled rates. The cumulative gain of 14.6% logged by the SCFIS in the last 4 weeks has lagged behind the SCFI’s 30.3% rise in the same period. However, the positive rate momentum is shifting with MSC slashing their rates to $3,700-3,800 per feu until the end of November, undercutting rivals’ rates
Charter rates continue to firm across all size segments, with the lack of supply of fresh tonnage pushing charterers to commit to not just higher rates but also forward deliveries into 2025. All of the laycans registered in the past week was in the smaller size segments of 2,800 teu and below, with the lack of tonnage in the larger sizes continuing to limit the number of transactions recorded. Interest from Russia related carriers remain firm with Uniglobal and OVP taking on smaller feeder ship
Global port congestion remains elevated through the past week with poor weather continuing to affect port operations in South China, with the escalation of the industrial action at Canadian ports has also worsened the congestion situation in North America. The port strike in Canada has halted operations at Vancouver and Prince Rupert, with the British Columbia Maritime Employers Association (BCMEA) locking out the dockworkers since 4 November. Although some of the affected ships are starting to