The new China-East Africa service jointly operated by ESL, GFS, IAL, KMTC, RCL and TSL will start from 6 November 2023 calling at Qingao, Shanghai, Ningbo, Nansha, Port Klang, Mombasa, Dar Es Salaam, Port Klang, Qingdao on a 56 day rotation using up to 8 ships of 2,400-3,000 teu. The ships initially deployed will be the 2,786 teu CUL MANILA operated by Emirates Shipping (ESL), 2,954 teu TS CHENNAI from TSL, 2,732 teu RACHA BHUM from RCL, 2,755 teu SM KAVERI from GFS, ESL ENDEAVOUR from ESL and
Unimed has started a new Damietta-Turkey service from 23 October 2023 connecting Damietta and Mersin with the 1,216 teu MORAGA.
Being the first liner to report 3Q earnings, Matson's 3Q earnings (out on 23 Oct) showed sequential improvement from the 2Q results: container shipping earnings were up 37-43% QoQ on 4% higher container volume, suggesting over 30% QoQ increase in earnings coming from rise in average freight rates. Most of Matson's operation are done on short term contracts or spot freight rates. Matson maintains two services in its China-USWC trade since 4Q of 2022. It has blanked 3 sailings in 1Q 2023 and 2 s
INE, the exchange where CoFIF contracts are being traded, doubled the transaction fee for the second time during the last two weeks to 0.02% and cap the trading volume at 500 contracts per day, another attempt to cool the short-term trading activities. Each CoFIF contract is priced as Rmb50 x the SCFIS. So 500 CoFIF contract cap amount to about $2.7mn. Despite being halved, the liquidity remains very high after the new policies kicked in. The transaction fee started at 0.001% at CoFIF's launch
Sinotrans and SITC have dropped the Busan call on their jointly operated China-Haiphong (CHS/CJV5) service that was introduced in April 2023 with the last call at Busan on 26 September. The CHS/CJV5 rotation has been shortened by 1 week and will turn in 2 weeks and call at Ningbo, Shanghai, Hong Kong, Haiphong, Danang, Hong Kong, Ningbo with the 1,510 teu REN JIAN 6 from Sinotrans and the 1,808 teu SITC ZHEJIANG from SITC.
THE Alliance will revise the rotations of the Far East-US East Coast EC1 and EC2 services from November 2023 following the withdrawal of the EC4 service. A new call at Xiamen will be added to the EC1 service that will call at Kaohsiung, Xiamen (new), Yantian, Shanghai, Yangshan, Ningbo, Busan, Manzanillo, New York, Norfolk, Charleston, Savannah, Manzanillo, Balboa, Kaohsiung. A new call at Yantian is added on the EC2 service that will call at Qingdao, Yantian (new), Ningbo, Yangshan, Busan, C
THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) will withdraw the Asia-North Europe FE5 service from November 2023. The FE5 is the second smallest of the 5 Asia-North Europe loops operated by THE Alliance and currently deploys 10 ships of 13,800-14,100 teu calling at Laem Chabang, Cai Mep, Singapore, Colombo, Rotterdam, Hamburg, Antwerp, London Gateway, Jeddah, Singapore, Laem Chabang, with 1 sailing blanked on an 11 week round trip rotation. The last westbound sailing is scheduled
Transpacific rates were largely unchanged over the past week with rates to the West Coast rates remaining firmer than the East Coast but sentiment is improving on both coasts as capacity utilization has been stronger than expected with several extra loaders notably by Maersk being added to cater to the overflow cargo. THE Alliance’s announcement late last week of the withdrawal of the EC4 in November will help to remove the surplus capacity on the East Coast especially on the Suez route which i
Market sentiment has turned positive for the first time since August, with momentum building for the November freight rate hikes as further capacity cuts are forthcoming after THE Alliance decided belatedly to suspend the EC4 service to the US East Coast via the Suez in November. This follows earlier cuts made by various carriers on the USWC and Europe routes that have helped to elevate carriers rate restoration efforts. The SCFI recorded its 2nd successive weekly increase, led by gains on the M
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202343] Market sentiment has turned positive for the first time since August, with momentum building for the November freight rate hikes as further capacity cuts are forthcoming after THE Alliance decided belatedly to suspend the EC4 service to the US East Coast via the Suez in November. This follows earlier cuts made by various carriers on the USWC and Europe routes that have helped to elevate carriers rate restoration effo