The longer dated EC contracts expiring after February 2025 have recovered most of their losses in the previous week as hopes for an early end to the Gaza conflict has diminished following the hawkish statements from Israel and increased strikes against targets in Gaza and Lebanon. The short-dated contracts for December 2024 and February 2025 largely held their ground despite increased scepticism over the carriers’ ability to push through additional rate hikes in December after their failure to
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202447] The rush to bring forward US imports ahead of the imminent Trump tariffs and potential strike on the US East Coast has so far failed to raise Transpacific freight rates. Rates to the West Coast slipped by 12% last week, even with more than a dozen ships stuck outside Canadian ports as carriers continued to slash rates as capacity utilisation has dropped to their lowest level this year. Although cargo demand remains s
Dubai based Feeder Lines has launched a new Feeder Asian XPress (FAX) service that will provide ad hoc connections between Port Klang, Colombo, Mundra, Jebel Ali, Karachi, Chittagong, Belawan, Port Klang. The service will operate on an irregular schedule with the 2,070 teu YUAN XIANG FA ZHAN that joined the service at Port Klang on 8 October 2024. The ship called at Chittagong on 10 November 2024, marking the first direct container service to connect Pakistan and Bangladesh.
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