SCFI spot freight rates to North Europe rose a further 3.8% last week, while rates to the Med were largely flat with a gain of just 0.1%. The tighter capacity and bottlenecks around Southeast Asia and North Europe ports have helped to narrow the rate gap between North Europe and Med which has shrunk to $500/teu compared to a peak of over $1,000/teu just 2 months earlier. Rates look set to continue to rise in July but the pace of the rate gains could slow as the recent capacity additions to Nort
EC freight futures traded to new highs across all contracts through April 2025, with the main August 2024 contract rising by 12% WoW to 5,399 points. The latest SCFIS as at 24 June increased by 1.6% to 4,766 with current futures prices implying a 13% upside for spot freight rates from Shanghai to North Europe between now until to the end of August. The bullish outlook looks set to persist in the coming week as rates remain firm with a further round of FAK rate increases due to be applied on 1 Ju
Global port congestion remains elevated with the situation at Southeast Asian hubs remaining chronic. Total vessel capacity waiting at anchorages globally reached 2.5m teu last week accounting for 8.4% of the global fleet. Southeast Asia hub ports continue to record the most serious congestion with the bottlenecks that first built up in Singapore in May spreading to Port Klang and Tanjung Pelepas. The situation at Port Klang has escalated in the last 2 weeks, with berthing delays of up to 6 day
New containership deliveries has reached 1.62m TEU this year but there remains a shortage of ships globally with freight and charter rates continuing to surge ahead as the market enters the traditional summer peak season. The vessel diversions from the Red Sea to the Cape route has effectively removed more than 1.6m TEU from the market since the beginning of December while the recent increase in port congestion has taken out a further 0.5m TEU of vessel capacity from circulation as the active f
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202426] The container market remains red hot with short term charter rates breaching the $150,000 per day benchmark and spot freight rates rising above the $8,000/feu level, setting new highs not seen since the end of 2022. New services out of Asia continue at a rapid pace, led by the Mexico route with 6 new services launched since May, followed closely by 5 new services to the US West Coast and 3 new services to North Europ
MSC will combine its existing Asia-Europe Swan service with its Asia-USWC Sentosa service into a new North Europe-Asia-USWC pendulum service called Swan Sentosa. The Swan Sentosa is scheduled to start from 1 July 2024 and will call at Qingdao, Ningbo, Shanghai, Yantian, Tanjung Pelepas, Felixstowe, Antwerp, Hamburg, Gdansk, Gdynia, Klaipeda, Bremerhaven, Antwerp, Singapore, Laem Chabang, Cai Mep, Busan, Long Beach, Oakland, Busan, Qingdao. The new service will turn in 23 weeks and will deploy
Emirates Shipping Line has launched a new ESL Gulf Red Sea Connector (EGRC) service calling at Jebel Ali, Aqaba, Sokhna, Jeddah, Mundra, Jebel Ali from 28 May 2024. The rotation of the EGRC is not fixed and will differ between sailings. The EGRC will turn in around 30 days on an irregular frequency and deploys the 1,781 teu ASL TAIPEI and 1,930 teu ASL PEONY.
Diamond Line, the intra-European feeder arm of COSCO Shipping, has launched a new Piraeus-Constnata Express (PCE) service connecting Piraeus, Constantza, Piraeus from 12 June 2024. The PCE service in 7 days and deployed the 1,432 teu CONTSHIP SEA for the maiden voyage from Piraeus on 12 June before being replaced by the CONTSHIP RUN from 19 June. Piraeus-Constanta Express (PCE)
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