Global container port throughout is expected to reach a record high of 947m teu in 2024, with full year growth forecasts revised upwards to 4.7% following 2 consecutive years of lacklustre growth of 0.7% in 2022 and 2023. The sharp rise in cargo volumes in the first half of 2024 has propelled port congestion to a new 18 month year high, with notable gains at several key Asian hubs including Singapore (up 7.7% YTD), Tanjung Pelepas (up 20.1% YTD) and Colombo (up 20.4% YTD).
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202425] 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 Asia-North Europe strings in June and July has not dragged down freight rates with further hikes s
MSC will launch a new EMUSA service connecting Tekirdag, Gebze, Aliaga, Haifa, Fos, Barcelona, Valencia, Sines, Boston, New York, Philadelphia, Savannah, Tekirdag from 20 June 2024. The EMUSA will replace the existing Turkiye/West Med to USA service with new direct calls at Fos and Barcelona, while former calls at Gioia Tauro, Baltimore and Port Everglades are dropped in the new streamlined service. The EMUSA will turn in 7 weeks and will deploy ships of 4,000-6,700 teu starting with the 5,060
The tight container market is expected to last for at least 3 more months, as monthly container cargo volumes could rise by a further 5% to 10% due to seasonal demand which historically peaks in August based on the analysis of cargo volumes at US ports over the last 15 years. The strong cargo volumes this year has caught the market by surprise, but the peak season cargo surge could bring further pain to the market already over-stretched by a shortage of vessel capacity and box equipment.
Arkas and Turkon have jointly launched a new Red Sea 1 (RS1)/Turkiye Red Sea Express (TRE) service connecting Ambarli, Izmit, Aliaga, Jeddah, Aqaba, Ambarli from 15 June 2024. The RS1/TRE will operate weekly, turning in 14 days and deploys the 1,878 teu TURKON ISTANBUL from Turkon and 1,604 teu WANDA A from Arkas.
SITC has launched at new Vietnam Thailand Express 6 (VTX6) service connecting Shanghai, Ningbo, Sihanoukville, Laem Chabang, Ho Chi Minh City, Nansha, Tokyo, Yokohama, Nagoya, Shanghai The VTX6 will turn in 28 days and deploys 4 ships of 1,000 teu starting with the 1,043 teu SITC HOCHIMINH at Shanghai on 11 June 2024.
COSCO will replace the existing OCEAN Alliance CPNW/PNW4/PE2/Twin Peaks Express (TWPKS) service calling at Yantian, Hong Kong, Ningbo, Shanghai, Prince Rupert, Vancouver, Yantian with a revised rotation that omits the Vancouver call which is shifted to the new China-Pacific Northwest Coast/Vancouver (CPV) service calling at Ningbo, Shanghai, Vancouver, Seattle, Lianyungang, Ningbo starting from 12 June 2024. OOCL, Evergreen and CMA CGM will retain their slots on the 2 services. COSCO will also
CMA CGM will launch a new India East Coast Express 2 (IEX2) service calling at Singapore, Chennai, Colombo, Singapore from 27 June 2024. The service will turn in 14 days using the 1,738 teu HANSA HOMBURG on a fortnightly frequency.
MSC will launch a new Carioca service connecting Busan, Shanghai, Ningbo, Shekou, Singapore, Rio de Janeiro, Paranagua, Itapoa, Santos, Itaguai, Colombo, Singapore, Busan from 19 July 2024. The FE-ECSA service will turn in 13 weeks starting with the 7,847 teu MSC YOKOHAMA.
MSC will launch a new Mustang service connecting Yantian, Ningbo, Shanghai, Long Beach, Yantian from 14 July 2024. The service will turn in 6 weeks and will deploy 6 ships of 13,000-19,000 teu that was to start with the 16,616 teu MSC LELLA at Yantian on 8 July but the sailing was postponed and replaced by the 13,798 teu MSC BETTINA at Yantian on 14 July. The launch was delayed a second time to 17 July, with the 19,462 teu MSC ELOANE deployed. The Mustang service was first launched by MSC in