Evergreen, IAL, Jinjiang Shipping. PIL, RCL will jointly launch a new China-India service calling at Shanghai, Ningbo, Nansha, Singapore, Chennai, Visakhapatnam, Port Klang, Singapore, Shanghai from 30 May 2024. The service will replace the existing service operated by IAL, Jinjiang, PIL and RCL that is branded as the China-Saigon-India / China Vietnam India / RCL Far East Madras 2 (CSI / CVI / RFM2). The revised service will omit the existing southbound and northbound calls at Ho Chi Minh Cit
6 carriers are teaming up to expand their current Vietnam/Thailand-India-Middle East Gulf service into an extended butterfly service that will offer 2 separate loops connecting the following ports: * Loop 1 : Laem Chabang, Singapore, Port Klang, Nhava Sheva, Jebel Ali, Dammam, Nhava Sheva, Port Klang, Cai Mep * Loop 2 : Cai Mep, Jakarta, Port Klang, Mundra, Jebel Ali, Dammam, Mundra, Port Klang, Laem Chabang 6 carriers (CMA CGM, China United Lines (CUL), Emirates Shipping Line (ESL),
All of the containership services that were diverted from the Panama Canal since November 2023 have returned to their regular Panama transits as of May 2024. These services were forced to switch to the longer route initially through the Suez Canal and then to the Cape of Good Hope after the Red Sea crisis escalated at the end of 2023. With the increase in the number of neo-panamax transit slots at the Panama Canal from May, carriers are bringing back all of these services to Panama which would
The bullish container freight and charter markets continue to gain ground with carriers pushing for further rate hikes through May while demand for ships remain unabated. Over-capacity concerns are on the backburner with containership diversions to the Cape route effectively removing more than 7% of the total fleet. New tonnage requirements have shifted to the Mexico and Middle-East/Indian subcontinent markets, with 3 new services to Mexico launched in May alone by COSCO, CMA CGM and MSC while M
Congestion is building up at Middle East Gulf and Southeast Asian ports, with Jebel Ali, Singapore and Port Klang all recording increased vessel waiting times in the last 2 weeks. The ISC/Middle East and Southeast Asia regions account for 15% and 16% respectively of total global congestion at the moment with pressure building up on increased cargo volumes this year. Global port congestion continue to affect 5% to 6% of the global fleet, with Chinese port congestion easing slightly last week due
Containerships are still making transits on the Suez/Bab-el-Mandeb despite heightened risks following the collapse of ceasefire talks between Israel and Hamas and the escalation of the Houthi attacks on commercial shipping on the Red Sea which has widened to the Indian Ocean. Over 90 transits on the Bab-el-Mandeb has been recorded since 1 April 2024, mainly by smaller carriers operating in the Asia-Med and Baltic Sea routes, compared to over 700 voyages diverted to the Cape route in the same per
Asia-North Europe freight futures rallied over the Labour Day shortened trading week, with rates on the 2 main futures contracts (EC2406 and EC2408) trading higher on 30 Apr and 6 May. The 2 short dated contracts rallied as the Middle East peace talks faltered with the 2 contracts accounting for nearly 80% of daily trading volumes, while the longer dated contracts for EC2412, EC2502 and the newly launched EC2504 were tactically sold off as trading hedges. Average daily volumes were unchanged b
Matson’s 1Q 2024 earnings dropped sequentially on higher-than-average volume declines as China-US volume dropped 17% QoQ and 4% YoY due to a reduction in the number of voyages as well as lower vessel utilization. Although Matson continues to enjoy premium rates on its express transpacific services, its competitive edge has been eroded as port congestion on the US West Coast has been largely absent since 2023.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202419] The bullish container freight and charter markets continue to gain ground with carriers pushing for further rate hikes through May while demand for ships remain unabated. Over-capacity concerns are on the backburner with containership diversions to the Cape route effectively removing more than 7% of the total fleet. New tonnage requirements have shifted to the Mexico and Middle-East/Indian subcontinent markets, with
Jin Jiang Shipping and Zhonggu have launched a new China Vietnam Thailand (CVT) service calling at Shanghai, Ningbo, Shekou, Ho Chi Minh City, Laem Chabang, Bangkok, Laem Chabang, Shekou, Shanghai from 30 April 2024. The CVT service will turn in 3 weeks and will deploy 3 ships of 1,800 teu starting with the 1,868 teu newbuilding MILD JASMINE from Jin Jiang at Shanghai on 30 April 2024, and followed by the 1,912 teu ZHONG GU HUANG HAI and ZHONG GU NAN HAI.