MSC will laucnh a new Osprey service connecting Shanghai, Ningbo, Singapore, Colombo, Ennore, Visakhapatnam, Ningbo from 23 July 2024. The Osprey service will turn in 35 days using 5 ships of 2,000 teu to 3,000 teu starting with the 2,470 teu MSC SOMYA III at Ningbo on 23 July.
Maersk will launch a new Central China-Straits-Chittagong service 3 (SH3) service connecting Shanghai, Xiamen, Kaohsiung, Nansha, Tanjung Pelepas, Chittagong, Tanjung Pelepas, Shanghai from 3 July 2024. The SH3 service will turn in 28 days and will deploy 4 ships of 2,300 teu to 2,800 teu starting with the 2,806 teu MCC YANGON at Xiamen on 3 July 2024. Maersk SH3 rotation
Maersk will launch a new AC1 service connecting Ningbo, Qingdao, Busan, Lazaro Cardenas, Posorja, Ningbo from 30 June 2024. The AC1 service will turn in 56 days and will deploy 8 ships of 4,200 teu to 5,100 teu starting with the 4,395 teu REN JIAN 17 at Ningbo on 30 June 2024. The service will complement Maersk's existing AC2 and AC3 service connecting Asia to the West Coast of South America. The AC2 service will be revised with the removal of the call at Posorja while Lazaro Cardenas and Manz
CMA CGM will launch a new EMED1 service connecting Antalya, Alexandria, Beirut, Antalya from 10 July 2024 with the 1,118 teu WILHELMINE. The weekly servce will turn in 7 days.
MSC will launch a new Dahlia service connecting Shekou, Xiamen, Shanghai, Busan, Manzanillo, Lazaro Cardenas from 3 August 2024. The new service will complement the Mexicas service that was just launched by MSC in May 2024 with a revised rotation that will call at Xingang, Qingdao, Ningbo, Busan, Manzanillo, Lazara Cardenas with a new call at Xingang added while the previous call at Shanghai will be removed and shifted to the Dahlia service. The first sailing for the new Dahlia service is sche
SITC has launched a new Malaysia-India-Myanmar (MIM) service calling at Port Klang, Haldia, Yangon, Port Klang from 5 June 2024. The MIM turns in 14 days and deploys 2 ships of 907 teu starting with the SITC NAGOYA at Haldia on 5 June and followed by the SITC TIANJIN.
EMC, the Taiwan listed shipping arm of the Evergreen Group, released the week before its monthly revenue for May, which was up 1% MoM and 34% YoY. There was no dip in revenue despite of the spot freight rate correction between February and April. Last week, Yang Ming and Wan Hai reported stronger MoM increase in their monthly revenue in May than Evergreen. These monthly revenue levels in May were better than any single month in 2023 and comparable to the level at end of 2022 or 2020. Further up
EC futures recovered essentially all of their losses after a volatile week with the longer dated contracts slumping to their 16% limit down levels on 11 June in reaction to the UN ceasefire resolution adopted on 10 June but rebounded over the next 3 trading days with little change to their pre-UN resolution levels. The main EC2408 contract was up 2% WoW, but could extend its gains this week following the SCFIS’ 10.8% WoW gain on 17 Jun. The new capacity additions on the Asia-North Europe route
Fears over a container market correction sparked by the possible end to hostilities in the Middle East proved to be premature as Chinese freight futures regaining all of last Tuesday’s losses, with further gains still to come after the SCFIS recorded a 3rd straight week of double digit % gains. The introduction of 3 new North Europe strings by Hapag-Lloyd (CGX) in June, followed by MSC (Britannia) and CMA CGM (French Peak) in July has not dampened the rate momentum with the SCFI rising by 5.7%
Global port congestion continues to rise over the past week, with over 2.4m teu of vessel capacity waiting at anchorages as at 16 June, of which 60% are in Asia (including East Asia, Southeast Asia, Indian subcontinent and the Middle East). Heavy congestion remains at Singapore, although average waiting times are down slightly if only because more vessels are omitting calls at the port with several services extending the omissions until July. Overall congestion is at an 18 month high, with a fu