Total 148 Posts
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202441] The US East Coast dockworkers’ strike ended after the ILA agreed a 61.5% wage hike over 6 years, far in excess of the 32% increase that the ILWU secured for their 2022-2028 US West Coast master contract. Although congestion at East Coast ports surged to their highest levels since 2022 at the end of the 3-day strike, the vessel queue is clearing up quickly after all the affected ports resumed operations on Friday. Wi
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202440] The US East Coast dockworkers strike will begin on 1 October 2024, throwing the container shipping market into turmoil with significant uncertainty over the duration of the industrial action and lack of US government action to stop the strike. Carriers have done little to deal with the situation, with some of them scrambling to apply port disruption surcharges only at the last minute and ad hoc USEC port omissions wi
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202439] Carriers continued to slash freight rates ahead of China’s Golden Week holidays with heavy discounts offered across all routes. Rates on the Asia-Europe route came under the heaviest pressure, with Transpacific rates to the US East Coast also dropping sharply as the ILA dockworker strike on the US East Coast looks certain to proceed on 1 October. The shift in cargo volumes to the US West Coast has picked up pace but
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202438] The ILA dockworkers’ strike will be pivotal for the container markets in the coming weeks, as it will determine the direction that freight rates will take in October. The SCFI has dropped by 33% since its last peak on 5 July and remain under pressure after 2 consecutive 8% WoW declines. Cargo volumes have weakened ahead of the Golden Week holidays, with no signs of a pre-holiday surge. Capacity utilisation levels hav
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202437] MSC and the Premier Alliance have announced a new partnership covering 9 Asia-Europe services commencing in February 2025 which will set the stage for a fresh alliance competition next year with the newly formed Gemini Cooperation and existing OCEAN Alliance. These carriers remain locked in their current price war as the SCFI tumbled by a further 8% last week with the Asia-North Europe and Asia-USEC seeing the sharp
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202436] Container freight rates continue to slip with Asia-Europe rates suffering the biggest drops last week. Cargo demand continues to fall, forcing carriers to offer rate discounts. The weakness has spread to the transpacific where carriers are also offering selective bullet rates and voyage-specific discounts. Carriers are pushing for a mid-September rate hike on hopes of a mini-cargo rush ahead of the Golden Week holida
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202435] Carriers failed to check the decline in freight rates with the SCFI slipping by 5.6% last week, led by sharp drops on the Transpacific and Middle East routes. The SCFIS, which is a better measure of actual market spot rates, have been dropping continuously since its July peak to the US West Coast in contrast to the SCFI false signal of a rate rebound a week ago, with cumulative losses reaching 38% since July. The ou
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202434] The SCFI rebounded by 0.8% last week but is unlikely to hold on to these gains with freight rates coming under pressure on both the Asia-Europe and Transpacific routes. Carriers failed to push ahead with the planned 15 August transpacific rate hikes and allowed rates to the US West Coast to slip with the lower rates to show up on the coming week’s SCFI reading. Carriers will be making another push for a September rat
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202433] Although spot freight rates have peaked in July, container carriers are still on track to record bumper 3rd quarter earnings with the July revenue figures more than 100% higher than a year ago. Carriers have managed to retain most of their recent rate gains into August despite the eroding market sentiment with EC freight futures for October trading at a 46% discount to current spot rates. There is some positive rate
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202432] US recession fears dominate the market this week, with the SCFI dropping for the 4th consecutive week on weakening capacity utilisation. Rates to the US West Coast have registered the sharpest drops and even though carriers are still pushing for a mid-August transpacific rate hike, market sentiment continues to weaken. Rates to North Europe are holding up relatively better, with capacity still constrained by both Red