Asia-Mediterranean

Ripples from Suez ending in waves of price rises on all container tradelanes

There are reports of “sharp increases” in Asia-Europe container spot rates this week, as the fallout from the week-long Suez Canal blockage restricts both vessel and equipment capacity in Asia.
Today’s Ningbo Containerized Freight Index (NCFI) North Europe and Mediterranean component jumped by 8.7%, almost matching the 8.6% increase on the Shanghai Containerized Freight Index (SCFI).
“Carriers collectively pushed up rates for April voyages and booking prices rose sharply,” said the NCFI …

The...

https://theloadstar.com/ripples-from-suez-ending-in-waves-of-price-rises-on-all-container-tradelanes/

‘Second coming’ for FFAs as protection against ocean freight rate volatility

Largely ignored by container shipping industry since their inception over a decade ago, container freight derivatives are finally seeing increased use as shippers and forwarders seek tools to protect themselves against freight rate volatility.
Derivatives, alternatively known as forward freight agreements (FFAs), have long been an established part of the dry bulk and tanker markets, but for many years remained unused in container shipping.
However, that has begun to change, the extraordinary …

Th...

https://theloadstar.com/second-coming-for-ffas-as-protection-against-ocean-freight-rate-volatility/

Rates hold steady despite softer demand, with carriers firm on contract prices

Container spot rates from Asia to Europe remained virtually unchanged this week, despite softer demand, assisting carriers to lock-in shippers with huge contract rate hikes.
On the transpacific, there was no let up in demand and BCOs are struggling to secure new deals with carriers.
According to the Asia to North Europe component of the Freightos Baltic Index (FBX), the rate for a 40ft edged down slightly, to $7,947, from $8,004 a …

The post Rates hold steady despite softer demand, with carriers...

https://theloadstar.com/rates-hold-steady-despite-softer-demand-with-carriers-firm-on-contract-prices/

Carriers eye higher contract rates to hedge against spot market volatility

Container spot rates from Asia to Europe and Asia to the US eased back further this week from their record highs.
Nevertheless they are expected to stay at very elevated levels for some time.
According to today’s reading of the Freightos Baltic Index (FBX), the rate for a 40ft from Asia to North Europe declined 3.3% on the week, to $8,037, but for Mediterranean ports, the rate was off by just $37, …

The post Carriers eye higher contract rates to hedge against spot market volatility appeared...

https://theloadstar.com/ocean-carriers-eye-higher-contract-rates-to-insulate-against-spot-market-volatility/

Buoyant ocean carriers set to roll out peak season surcharges months early

Asia-North Europe container spot rates eased back slightly this week, as carriers ‘hoovered up’ stockpiled cargo accumulated before Chinese New Year.
However, rates from Asia to the US increased again.
Today’s reading of the Freightos Baltic Index (FBX) for a 40ft from Asia to North Europe was $8,308, compared with $8,430 a week ago, but for west Mediterranean ports, the FBX spot rate edged up $74, to $7,967 per 40ft.
The modest softening …

The post Buoyant ocean carriers set to roll out peak...

https://theloadstar.com/buoyant-ocean-carriers-set-to-roll-out-peak-season-surcharges-months-early/

No rate relief for ocean shippers as hopes of usual post-CNY slump sink

Ocean carriers are determined to keep container spot rates at their highly elevated levels for as long as possible, as they look to lock in annual contract customers with rate increases of 100% or more. 
And with no sign of a spot rate decline following the beginning of Chinese New Year last week, shippers that have held off sitting down with their carriers, expecting the normal rate erosion after CNY, are …

The post No rate relief for ocean shippers as hopes of usual post-CNY slump sink...

https://theloadstar.com/no-rate-relief-for-ocean-shippers-as-hopes-of-usual-post-cny-slump-sink/

No slack season, no easing of spot rates, as cargo pours out of Asia

Shippers are resigned to the probability that container spot freight rates from Asia will remain at their current high levels for some time after Chinese New Year. 
Today’s beginning of the Chinese lunar new year would usually herald several weeks of downward pressure on freight rates, but so far there are no indications of a slack season developing in the first half of the Year of the Ox. 
“After a year of so …

The post No slack season, no easing of spot rates, as cargo pours out of Asia...

https://theloadstar.com/no-slack-season-no-easing-of-spot-rates-as-cargo-pours-out-of-asia/

Rates misery for ocean shippers set to continue after Chinese New Year

Shippers face many more months of inflated freight rates, as ocean carriers show no sign of easing their strategy of keeping capacity tight and favouring high-paying spot cargo. 
In a customer Q&A session this morning, Hapag-Lloyd CEO Rolf Habben Jansen said the carrier was still “flooded with bookings”. 
He said: “It will be well into the second quarter before we get back to anywhere near normal,” And he added: “For the first time …

The post Rates misery for ocean shippers set to continue after...

https://theloadstar.com/rates-misery-for-ocean-shippers-set-to-continue-after-chinese-new-year/

Asia-Europe ocean spot rates sail into calmer waters as boxes are returned

Container shipping spot freight rates on the Asia-North Europe trade declined 2.7% this week – a further sign the recent exponential growth has levelled off.
Today’s Shanghai Containerised Freight Index (SCFI) Shanghai-North Europe leg was $4,276 per teu, down $117 per teu from last week, as carriers began to release more equipment to customers in China.
Christoph Baumeister, senior trade manager Asia/ISC-Europe at Flexport, said the rates decline was mainly driven by …

The post Asia-Europe...

https://theloadstar.com/asia-europe-ocean-spot-rates-sail-into-calmer-waters-as-boxes-are-returned/

Spot rates ease – but it could be too little, too late for some

Container spot rates have peaked and appear to be declining slightly on the main tradelanes, albeit from record high levels.
But it could be too little and too late to save some businesses.
“Carriers have started to extend rates into mid-February, and prepaid space seems to be available at the Chinese main ports,” said Christoph Baumeister, senior trade manager, Asia-Europe, at Flexport.
Today’s Shanghai Containerised Freight Index (SCFI) recorded the first decrease in …

The post Spot rates ease...

https://theloadstar.com/spot-rates-ease-but-it-could-be-too-little-too-late-for-some/

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