Transpacific freight rates have risen in tandem with European rates last week, rising to $2,553/feu to the West Coast and $3,559/feu to the East Coast, both breaching their 12 month highs. Capacity is expected to remain tight in the coming weeks, with reduced departures available in January especially on the US East Coast routes where the diversions to the Cape route will start to have an impact from week 3 onwards. Carriers are also switching ships away from the US West Coast to Europe where t
ONE will launch a new Egypt Lebanon Turkey Service (ELT) calling at Damietta, Beirut, Iskenderun, Damietta with the 1,084 teu MARIELYST at Damietta on 31 January 2024 on a weekly frequency.
CMA CGM and Maersk will launch the Ceiba Express (Ceiba/U7H) service calling at Port Everglades, Kingston, La Guaira, Puerto Cabello, Cartagena (Col), Puerto Cortes, Santo Tomas de Castilla, Port Everglades on 21 days round trip. The service will deploy 3 vessels starting with the 1,732 teu HANSA SALZBURG at Port Everglades on 14 January 2024, followed 1,691 teu MARFRET GUYANE and 2,564 teu CMA CGM PEMBA.
CoFIF’s April contracts (EC2404) soared to a new high on 27 December but retreated on the last 2 trading days of the year to close at to 1,643 as the traders unwinded some of their pairs (long EC2404 and short EC2412). Market conviction weakened with Open Interest balance dropping through the week to end down by 50% WoW, with Maersk’s decision to resume Suez transits earlier last week dragging down the forward expectations. The latest SCFIS assessment on 1 January for the Asia-North Europe rout
The number of containerships diverted to the Cape Route has reached 262 ships as at 31 December 2023 with a total capacity of 3.4m teu or 12% of the global capacity. Apart from ships diverted from the Suez route, there is also an increasing number of ships diverted from the Panama Canal to avoid the Canal congestion. With the crisis hitting Europe rates the hardest, European carriers have taken a divergent approach with Maersk and CMA CGM resuming Suez transits as of last week while MSC and Ha
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202401] The Red Sea crisis dominated another frenzied week for the container shipping market with the SCFI rising by 40% - only the 4th time since 2009 that spot freight rates jumped by more than 40% in a single week. All long haul routes recorded strong rate gains led by the Asia-Europe trades, with the elevated rates expected to hold through January and February as capacity will remain tight in the next 6 weeks. 12% of glo
CMA CGM and Maersk will jointly launch a new Cape Town Feeder/Cape Town Express service connecting Port Louis, Cape Town, Port Louis from 9 January 2024. The service will turn in 4 weeks using 4 ships of 2,200-2,500 teu starting with the CMA CGM FORT ST GEORGES, MAERSK NEWARK, MAERSK NANSHA and CMA CGM ANTIOQUIA. The service will cater for connections to Cape Town at Port Louis on the updated Shaka/Safari service jointly operated by CMA CGM and Maersk that will call at Shanghai, Ningbo, Shekou,
RCL will join CNC and ONE as vessel operator on the China-Indonesia Malaysia (CS2/CIM) service that it brands as the RCL South China-Indonesia (RCI) from 30 December 2023. The service connects Hong Kong, Shekou, Nansha, Surabaya, Semarang, Jakarta, Port Klang, Hong Kong and turns in 3 weeks with 3 ships of 2,500-2,600 teu. RCL will deploy the 2,598 teu URU BHUM at Hong Kong on 30 December 2023 joining the 2,478 teu APL PUSAN from CNC and 2,664 teu NYK DANIELLA from ONE.
Russian operator Transmasters' China to St Petersburg service has been disrupted by financial troubles with 6 of its ships stranded since December 2023. Transmasters have notified its customers on 15 December 2023 of an emergency surcharge of $1,750/teu for cargo already loaded on the 1,662 teu HONRISE that has been stranded off Sweden since 23 November 2023. The ship will only be able to discharge at St Petersburg after the surcharge has been paid. The 1,725 teu SHUN LONG has also been strand
FESCO has launched a new FESCO Egypt Direct Line (FEDL) service from 13 December 2023 connecting Novorossiysk, Alexandria, Novorossiysk with the 1,118 teu FESCO ASKOLD. The service will turn in 13-14 days using a single ship. The FEDL service is operated by Dalreftrans, FESCO’s temperature-controlled cargo transportation affiliate and is aimed at the transport of fruits and refrigerated products from Egypt to Russia while it will transport containerised lumber, fertilisers, leguminous crops and