Total 146 Posts
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202429] The SCFI retreated last week by 1.6% after 14 consecutive weekly gains in a further sign that the market has peaked. While demand remains firm, supply has also risen with capacity injections most notably in the Indian subcontinent, Latin America and US West Coast routes where freight rates are the most lucrative currently. This has capped freight rate increases on those routes, but overall capacity utilisation remain
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202428] Renewed apprehension over a Middle East ceasefire and signs that freight rates may have peaked spooked the jittery container shipping equity and freight futures markets on 8 July despite continued advances in the SCFI and charter rate indices last week. Although carriers successfully pushed ahead with the 1 July rate hikes, cracks have appeared on their ability to secure further rate increases as the additional capa
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202426] The container market stepped up further with SCFI spot rates surging by a further 6.9% while EC freight futures for 2025 contracts registered strong gains on rising conviction that the Red Sea crisis will last through next year. Charter rates continues to set higher benchmarks although carriers remain hesitant to commit to forward positions for ships that are coming open at the end this year and early 2025. The Lati
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202426] The container market remains red hot with short term charter rates breaching the $150,000 per day benchmark and spot freight rates rising above the $8,000/feu level, setting new highs not seen since the end of 2022. New services out of Asia continue at a rapid pace, led by the Mexico route with 6 new services launched since May, followed closely by 5 new services to the US West Coast and 3 new services to North Europ
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202425] Fears over a container market correction sparked by the possible end to hostilities in the Middle East proved to be premature as Chinese freight futures regaining all of last Tuesday’s losses, with further gains still to come after the SCFIS recorded a 3rd straight week of double digit % gains. The introduction of 3 new Asia-North Europe strings in June and July has not dragged down freight rates with further hikes s
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202424] Several new long haul services have been launched in June, including the notable return of SeaLead to the US and BAL to Mexico that followed Ellerman’s return on the Asia-Europe route last month. COSCO and Hapag-Lloyd have also been actively adding new services on the transpacific and Asia-Europe routes. Market sentiment is clearly rising, as seen by the IPO filing by TS Lines while Maersk’s revision of its full year
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202423] The capacity crunch in the container shipping market has worsened, with one transpacific service operated by Maersk withdrawn barely 8 weeks into its launch, while almost half of the Asia-Europe westbound sailings missed their scheduled departure dates as port congestion at Southeast Asia hub ports remain elevated. The SCFI extended its rally for the 9th consecutive week, rising by 13% last week, while cumulative gai
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202422] Rising port congestion has added further to the woes of the over-stretched container market that is already reeling from a shortage of container equipment and vessel space. The global port congestion indicator hit the 2m teu mark, accounting for 6.8% of the global fleet with Singapore becoming the new congestion hotspot. The SCFI has jumped by 42% in the past month, with further gains to follow in June as carriers ar
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202421] The caution that carriers have shown in their earnings forecasts for the 2024 financial year stands in sharp contrast to the surging spot freight rates with the SCFI hitting a fresh 2 year high. Bullish Chinese freight futures are predicting further rate gains in the coming 4 months, with a correction only expected in the 4th quarter of the year. The bullish sentiment has also pushed charter rates to fresh 2-year hi
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202419] Market panic over tightening vessel space availability has sent the SCFI to its highest level since September 2022, rising by 18.8% after last week’s holiday break to hit a 20-month high. Unlike the surge in January this year when the rate hikes were largely limited to the Red Sea affected routes, the gains are more broad-based this time with sharp rate hikes on all long-haul routes on the back of a strong rebound in