Containerised cargo imports into the US from Asia have continued to grow over the last 7 years despite the introduction of US import tariffs since 2018. Overall cargo growth grew by 3.5% on a compounded basis between 2017 and 2024 with all Asian origins recording positive cargo growth, including China that posted growth of 0.8% during the period. Although China’s share of total US imports from Asia decreased from 70.4% in 2017 to 58.9% in 2024, it remains the largest origin country of containe
EC traders are disappointed by Maersk's lack of further action to increase freight rates over the past two days. While Hapag-Lloyd has become the first to announce its intention to raise freight rates to $8,000–$9,000 per FEU starting December 15, Maersk is already quoting lower freight rates for shipments departing after that date compared to those leaving now. The rates for each departure date have been reduced by 3% to 13% since November 30. Utilization is holding steady but remains 1.5 perce
Ningbo Ocean Shipping (NBOSCO) has launched a new Ningb0-Zhapu-Busan service from 15 October 2024. The service turns weekly with the 629 teu KAI PING on a 7 day rotation. The service calls at the Intergis terminal in Busan, Daxie terminal in Ningbo and Jiaxing port in Zhapu.
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