Newly established STF Shipping has launched 3 new China-Russia Far East service since August 2024, taking over CStar Line's services on this route. According to the company, STF stands for Safety, Timeliness and Flexibility and it has established its headoffice in Shanghai, with agency offices in Ningbo, Seoul, Vladivostok and Nakhodka. STF operates 6 containerships of 1,100 teu to 2,200 teu that were all transferred from CStar Line in August 2024, that are deployed on 5 separate services: *
Freight futures for Shanghai-North Europe route continue their rebound today with main contract which is EC2412 up 7% for the day at 10:50, following the broader capital market in China. Average online quotations for Shanghai to North Europe base ports dropped 1% to 8% overnight, with shipments departing in middle of October see the biggest freight rates cut. CMA CGM released first update since 18 Sep that it slashed its quotations by 14%. Maersk took the lead from HMM by offering the lower fr
In the Asia-Europe trade, most freight rates quoted online are still down with Hapag Lloyd making relatively bigger cut than what other liners do. Lowest FAK quotation is $3,382 per FEU from HMM. Utilization for departures on 24th Sep, both TEH services, were above average, supported by THE alliance members' more aggressive pricing. Asia-Europe Head Haul Capacity UtilizationLast Friday, the average quotation given by the liners is about $4,136/FEU, which is consistent with the SCFI (Europe)'
EC freight futures rebounded on 23 September with smaller than expected rate cut by 2M and OCEAN Alliance carrier, with the spillovers from the expected US East Coast dockworkers’ strike scheduled to start on 1 October. EC traders continue rely heavily on surveys of carriers’ FAK rate quotations which dropped by -7% last week (Week 38) compared to the -18% drop in Week 35. However, the EC rates is expected to weaken in the coming week following the 13.9% WoW drop in the SCFIS on 23 September wh
Rates to North Europe continued their sharp falls with the SCFI assessed rates falling by 8.8% to North Europe and 12.2% to the Med. Carriers continue to slash rates, with THE Alliance carriers particularly aggressive with the rate cuts last week with quotations falling below $4,000/feu. Although departures from Shanghai have been severely disrupted in the last 2 weeks due to congestion following Typhoon Bebinka, the reduced capacity available did not stop rates from dropping with demand remai
Aggregated container volumes handled at the ports of Los Angeles and Long Beach reached 1.87m teu in August, the second highest monthly throughput ever recorded at the main Pacific Southwest (PSW) gateway port just shy of the 1.92m teu peak handled during the peak of the COVID pandemic in May 2021. The current volumes already exceed the 1.67m teu handled in January 2022 when congestion at the San Pedro Bay ports reached a record high of 740,000 teu, but there is still few signs of any serious co
DSV has announced on 13 September 2024 an agreement to acquire Schenker from Deutsche Bahn in a deal valued at €14.3Bn (US$15.95Bn). The combination of DSV and Schenker would create the 2nd largest ocean freight forwarder in the world just behind Kuehne & Nagel, and overtaking the current no. 2 DHL. The Schenker deal is the 8th large acquisition by DSV since 2000 and follows the earlier acquisitions of DFDS Dan Transport in 2000, JH Bachmann in 2005, Frans Maas in 2006, ABX Logistics in 2008, UT
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202439] Carriers continued to slash freight rates ahead of China’s Golden Week holidays with heavy discounts offered across all routes. Rates on the Asia-Europe route came under the heaviest pressure, with Transpacific rates to the US East Coast also dropping sharply as the ILA dockworker strike on the US East Coast looks certain to proceed on 1 October. The shift in cargo volumes to the US West Coast has picked up pace but
Hede Shipping has launched a second transpacific service branded as the Hede US West Coast Direct Express (HDX) from 11 September 2024. The HDX service turns in 5 weeks and calls at Ningbo, Los Angeles, Ningbo using 5 ships of 1,800 to 2,700 teu starting with the 1,809 teu ADAMASTOS at Ningbo on 11 September. 4 more vessels will be phased in subsequently, including the 1,738 teu HANSA DUBURG and 2,741 teu POSEN and PONA. The HDX will complement the current HDS service which has been renamed as
Asyad Line and Folk Maritime have launched a new India-Red Sea Service (IRS) with each partner to contribute one ship each on the service from 10 September 2024. Asyad Line's 3,534 teu WADI DUKA will connect Sokhna, Jeddah, Nhava Sheva, Mundra, Salalah, Sokhna on a 30-35 day rotation, while Folk Maritime's 1,868 teu FOLK JEDDAH will connect Jeddah, Nhava Sheva, Mundra, Jeddah on a 20-25 day rotation.