The containership charter market has seen one of its most active weeks with a large number of new fixtures and extensions taking effect in the past week. Charterer interest remain very high despite the weakening freight market, with limited vessel availability across all size segments and forward fixtures now a common market feature even for ships of 1,500-3,000 teu where previously they were limited to the larger sizes. Charter periods continue to remain high with fixtures of up to 2-3 years f
Global container port congestion has eased noticeably in the past week, with Chinese ports gradually clearing the backlog of vessels that has built up around its main ports at the end of September. Shanghai remains highly congested with berthing delays of up to 4 days but the other key ports including Ningbo, Shenzhen and Qingdao have managed to bring down the average vessel waiting times to less than 1 day. In the US East Coast, Hurricane Milton made landfall on 10 October but most of the main
EC contracts up 3-8% this morning with bids focusing on the near term contracts e.g. EC2412. Evergreen and MSC join the other liners to lift their November FAK rates quotation to over $4,000/FEU with Evergreen quoting $4,320/FEU and MSC quoting $4,540 /FEU. Average utilization continued to improve. COYHAIQUE, from Hapag Lloyd's independent service CGX left Singapore yesterday at 93% utilization, which is better than the same ship's last departure from Singapore in July when it registered only
EC opened lower but then recovered throughout the day, supported by decent volume and increasing open interest. The main contract, EC2412, ended the day higher, while longer-dated contracts declined, following yesterday's trend. The main delta today in liner's online quotations were ONE's lifting its online quotations, and COSCO published its November rates at $4,800 per 40-foot container. Average utilization for alliance vessels departing from the Far East continues to increase. The MUNICH MA
Taiwanese carriers’ aggregated September revenue dropped by 17% from the August peak, but remains 84% higher compared to September 2023. For the July-September quarter, their combined 3Q 2024 revenue is up 43% QoQ and 107% YoY.
Shanghai-North Europe freight futures have rallied since 10 October with traders placing their bets on a rate rebound in the next 2 months. December 2024 contracts are now trading at a 16% premium over October on expectations that carriers will be able to secure part of their planned rate increase in November and hold the higher rates through December on the back of firmer year-end cargo demand. However, the post-Chinese New Year rate rally have fizzled out with forward rates for April, June and
Carriers’ reluctance to pull out more capacity in the last 2 weeks have hurt their efforts to hold rates post Golden Week as Asia-Europe rates continue to weaken with the SCFIS registering a 10.2% decline on Monday following last week’s 15.9% decline. Although rate surveys suggest a small uptick in carriers’ quotation, there are still some carriers offering aggressive rate discounts of below $3,000/feu. Several carriers have announced rate hikes from 1 November aimed at raising spot freight ra
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202442] Freight rates have continued their decline with the slack season now in full swing. The heavy front-loading of holiday season cargo for the US and Europe that have driven up shipping rates since May are now working in reverse but carriers have still not adjusted vessel capacity for the winter season with only limited blank sailings planned in the next 6 weeks. This is clearly seen in the Asia-North Europe, US West
Container freight futures being traded in Shanghai continue their rally this morning as liners started to revise up their online FAK quotations and the utilization for vessel departed over the weekend showed sequential improvement. Next data point is the SCFIS to be released at 3pm today. The last SCFIS suggests a freight rates of around $4000 per 40' container. The likely freight rates for last week, for which today's SCFIS will be based, could drop to $3600-3700 i.e. 8-10% WoW drop. Liners
MSC will restart the Koala service from 30 October 2024 to provide connections between Shanghai, Hong Kong, Jakarta, Fremantle, Jakarta, Shanghai. The revived service will turn in 4 weeks and will deploy 4 ships of 1,500 to 2,500 teu starting with the 1,550 teu MSC QINGDAO F at Shanghai on 30 October, followed by the 1,800 teu MSC SIJING together with the 2,556 teu pair MSC HANISHA III and MSC LUCIA III. The move follows the suspension of the Capricorn and Kiwi Express services in August 202