Capacity utilization on the Asia-North Europe services fell to their lowest levels since 2020, with no signs of a rebound in cargo volumes. Average utilization has dropped below 90% forcing carriers to slash rates with the SCFI tumbling by a further 15.2% last week. Although carriers are gunning for another round of rate hikes to bring base rates back up to $4,000/feu, it will be a tall order as current spot rates have already dropped below $2,000/feu with some carriers even extending the curre
Register Free Trial Capacity utilization is slipping across all key trade routes with 3 out of the 4 main tradelanes falling below 90%. Despite this, carriers are pushing ahead with new service launches with a new Asia-North Europe service and 3 new Asia-South America services to be launched next month including a new China-Mexico service that will feature 7 new Asian entrants to the Mexican market. The unabated demand for ships is keeping the charter market high despite the freight market slu
A partnership involving 7 Asian carriers have teamed up to launch a new Asia-Mexico Express (AMX) service that is set to start from 30 April 2025. The AMX will call at Shanghai, Qingdao, Busan, Manzanillo, Shanghai and is expected to deploy 7 ships of 3,000 to 4,000 teu operated by Emirates Shipping, KMTC, RCL, Sinokor, Sinotrans, SeaLead Shipping and TS Lines. The new service will be a landmark move for all the 7 carriers who are entering the Mexico trade for the first time and will complement
Evergreen has split the OCEAN Alliance PNW3 - Asia Northwest Persian Gulf (ANP) service into 2 separate services in order to minimize schedule disruptions caused by the persistent port congestion at Vancouver which have faced berthing delays of up to 7 days. The PNW3 - Asia Northwest Persian Gulf (ANP) was originally slated to operate as a Middle East-Far East-US West Coast pendulum service calling at Dammam, Umm Qasr, Jebel Ali, Port Klang Westport, Laem Chabang, Cai Mep, Kaohsiung, Yantian, Sh
SITC has introduced a new China-Philippines Express 4 (CPX4) service connecting Osaka, Kobe, Nagoya, Shanghai, Wenzhou, Subic Bay, Manila South, Shanghai, Osaka from 18 March 2025. The CPX4 will turn in 21 days and deploys 3 ships of 1,000 teu starting with the freshly delivered 1,023 teu SITC TONGHE at Osaka on 18 March 2025, followed by the 1,049 teu HF LUCKY and ASIATIC PRIDE.
Futures contracts in Shanghai fell by 5-8% this morning as traders opted to follow the liners' daily online freight rate reductions rather than their April 1 GRI announcements. Over the past two days, liners have largely been cutting their online quotations. With insufficient volume and utilization, there is no immediate support for any freight rate increases.
COSCO Shipping has launched a new North Africa Service (NAS) connecting Valencia, Algiers, Valencia from 25 February 2025. The service turns in 7 days using the 652 teu MEDKON RIZE and 925 teu CONTSHIP IVY to provide 2 sailings each week. .
The widening disconnect between faltering container freight rates and the continued strengthening of containership charter rates is unsustainable, with the ratio of the charter rate index to the CCFI currently at a historic high. Although charter rates and freight rates tend to move in tandem, there have been various periods in the past where they have diverged due to differences in demand and supply dynamics in the charter and freight markets. The Red Sea diversions have driven the widening di
Europe has become the new congestion hotspot, with severe delays across several key ports in North Europe and the Med area. Labour issues have spread to Germany with Hamburg the latest port to be affected, after strikes have already affected port operations in Rotterdam, Le Havre and Spain. Vessel berthing lineups are full at all main ports until the end of March, with no improvements to the congestion situation in the next few weeks. Congestion in North Asia have eased at Chinese ports after t
Container freight futures continued to see-saw, as the large drop on 4 March after last week’s 6.2% decline in the SCFIS index was followed by a rebound on 6 March as Maersk’s General Rate Increase (GRI) notice sparked a minor rally. Over the past week, the EC contracts were generally down apart from the April 2025 and February 2026 contracts that traded flat. Average daily trading volumes remained robust, while open interest dropped slightly by 3%. The forward curve remains optimistic, with Ju