Total 160 Posts
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202335] Although freight rates will receive a minor boost this week from the 1 September rate hikes, market sentiment remains poor with the SCFI giving up all of its gains in August in a repeated pattern of early month rate gains followed by rate cuts as the month progresses. The transpacific rate gains have been more resilient than on Asia-Europe, but even there the momentum is dissipating quickly with the Panama Canal tran
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202334] Market sentiment has turned negative again, with carriers unable to retain the recent rate increases as the SCFI slipped by 1.2% last week. The setback will make it harder for carriers to push for the next round of rate hikes in September, with no signs of capacity management in place. The idle fleet remains low even as new ship deliveries continues apace. The mounting losses at Zim has forced it to rationalise capa
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202333] The SCFI extended its gains for the 3rd consecutive weak but there are signs that peak season volumes are already starting to fade and the recent rate rebound could soon run out of steam. Transpacific freight rates have led the recent gains on the back of rising demand and capacity cutbacks, with Asia-Europe rates also managing to retain most of their recent gains despite more shaky market conditions. However, Linerl
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202332] Maersk’s 2nd quarter results laid bare the failure of its integrator strategy to deliver while allowing its rivals to snatch away liner market share where earnings remain superior to any quarter prior to 2020. Although Maersk’s full year earnings guidance painted a dismal market outlook for the 2nd half of 2023, the liner market barometer has turned positive with the SCFI extending its gains for a 3rd consecutive wee
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202331] Freight rates have rebounded sharply on the back of the 1 August rate increases, with the SCFI rising by 6.5% at the end of last week. High capacity utilisation on the transpacific routes, especially to the West Coast will ensure rates remain elevated to North America with the ILWU Canada contract negotiations still not resolved. Asia-Europe rates will be less resilient, with carriers already under-cutting rates as t
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202330] While global attention is focussed on Russia’s renewed blockade of Ukrainian ports in the Black Sea, container volumes at Russia’s own ports have rebounded sharply, drawing in over 200,000 teu of incremental containership capacity since the end of last year. The strong Russian demand has been one of the few bright spots for the container shipping market this year, with over-capacity driving down freight rates across
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202329] The resolution of the ILWU US and ILWU Canada port labour contract negotiations have removed the last hurdle to market normalisation, with port congestion set to ease further from its current level affecting 5.7% of the global fleet. This does not bode well for the container market that is increasingly struggling with surplus capacity. Zim downgraded its EBIT forecast last week to a full year loss of up to $500m fro
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202328] Carriers’ bid to raise Transpacific rates mid-July has gained traction, supported by improved capacity utilisation levels and a 14% month on month reduction in capacity that has been bolstered by Zim’s withdrawal of the ZNP service and THE Alliance’s planned removal of one FE-USWC string from August. Despite the improved transpacific market sentiment, the SCFI slipped by 2.3% at the end of last week, dragged down by
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202326] Supply side pressure continues with June vessel deliveries charting a new high, while limited delivery slippage and subdued scrapping numbers dent hopes that the unbridled capacity growth can be contained. Although the SCFI bucked its recent downward trend on the back of Transpacific rate increases on 1 July, the rate revival will be short lived as capacity is still growing faster than demand despite encouraging port
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202326] Market sentiment remains bearish with freight rates still slipping. The SCFI declined further in the holiday-shortened week in China, led by the rapid drop in Transpacific rates. Although carriers are pushing for another transpacific GRI on 1 July, the failure of the last 4 attempts will hurt their credibility with lines putting little effort to remove capacity while utilisation rates remain well below the level requ