Asia-Mediterranean

Asia-Europe carriers have ‘gone too far’ and will ‘live to regret their gluttony’

There are signs that spot rates from Asia to Europe might be beginning to cool at last.
Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index inched up just half a percentage point this week to 2,885, which is 190% higher than a year ago.
The North Europe component eased back slightly, by $39, to $4,413 per teu, after putting on $650 in the previous two weeks.
Spot rates from Asia to the Mediterranean …

The post Asia-Europe carriers have ‘gone too far’ and will ‘live to regret...

https://theloadstar.com/asia-europe-carriers-have-gone-too-far-and-will-live-to-regret-their-gluttony/

On the wires: The container freight story at a granular level

Alphaliner published an interesting note this week which looked at the extraordinary performance of container freight rates, but at a granular level.
Analysing the recent gains on the Shanghai Containerised Freight Index – which charts nine deepsea trades out of Shanghai, in addition to four intra-Asia routes – and dividing the headhaul freight rate with the nautical distances between Shanghai and each trade’s base port to give the dollar earned per …

The post On the wires: The container freight...

https://theloadstar.com/on-the-wires-the-container-freight-story-at-a-granular-level/

Space on box ships out of Asia now going, going, gone – to the highest bidder

Major forwarders are engaged in fierce bidding wars in China, in order to secure equipment and space to North Europe.
And several carriers are reported to have opened first- and second-round tenders with the highest bidders for guaranteed shipment this month.
According to Chinese forwarder contacts, carriers are inviting offers for available slots on end-January sailings from Shanghai, Ningbo, Qingdao and Yantian, with all-in bids below $16,000 per 40ft H/C for the …

The post Space on box ships...

https://theloadstar.com/space-on-box-ships-out-of-asia-now-going-going-gone-to-the-highest-bidder/

Fewer blanked sailings over Chinese New Year 2021 than ever before

Container carriers are expected to provide more deepsea capacity out of Asia over the Chinese New Year holiday, beginning 12 February, than in any other year.
Announced blank sailings for what is normally shipping’s slack season are far fewer this year than previously, according to data from liner database eeSea’s Blank Sailings Tracker.
It shows that, across the transpacific, Asia-Europe and transatlantic trades, just 1.7% and 0.6% of head haul sailings have …

The post Fewer blanked sailings...

https://theloadstar.com/fewer-blanked-sailings-over-chinese-new-year-2021-than-ever-before/

No happy new year for shippers as rates on major tradelanes stay sky high

The final Shanghai Containerized Freight Index (SCFI) for 2020, published on 31 December, recorded a staggering 190% gain on the year.
The biggest spot rate increase on its major tradelanes was recorded between Asia and North Europe, which saw the SCFI component leap by almost 300% to finish the year at $4,091 per teu.
Asia to Mediterranean rates also saw a big spike, 266%, to take the SCFI element to $4,286 per …

The post No happy new year for shippers as rates on major tradelanes stay sky high

https://theloadstar.com/no-happy-new-year-for-shippers-as-rates-on-major-tradelanes-stay-sky-high/

The real cost of ocean freight out of Asia is hitting ‘unbelievable’ heights

Notwithstanding further rate spikes this week, the Shanghai Containerized Freight Index (SCFI) is still understating the prices shippers are paying carriers, according to a senior analyst.
“It should be noted that the market is at a point where the SCFI is, in some cases, significantly underestimating actual rates paid,” said SeaIntelligence’s Lars Jensen.
However, the SCFI’s comprehensive index, reading 2,411.82, is 167% higher than a year ago, reflecting huge spot rate increases …

The post The...

https://theloadstar.com/the-real-cost-of-ocean-freight-out-of-asia-is-hitting-unbelievable-heights/

More pain for Asia-Europe shippers as rate hikes and surcharges pile up

Container spot rates on Asia to North Europe leapt 27% this week to breach $2,000 per teu, with carriers planning further FAK rate hikes for December.
The Shanghai Containerized Freight Index (SCFI) recorded an increase of $447 in its North Europe component, to $2,091 per teu, which is 170% higher than a year ago.
The SCFI rate to Mediterranean ports also saw a big spike, 23%, to $2,219 per teu, representing a …

The post More pain for Asia-Europe shippers as rate hikes and surcharges pile up...

https://theloadstar.com/more-pain-for-asia-europe-shippers-as-rate-hikes-and-surcharges-pile-up/

Carriers ‘using pandemic to boost profits’ claim, as Asia-Europe rates explode

Container freight rates from Asia to Europe are going through the roof, mirroring the trend on the transpacific, with regulators seemingly unable to stop the relentless onslaught on shippers that threatens to sink business.
European and US importers outside or in excess of contract are seeing their freight budgets destroyed by unprecedented FAK and GRI hikes that many fear remain until at least Chinese New Year in February.
After a “shock and …

The post Carriers ‘using pandemic to boost profits’...

https://theloadstar.com/carriers-using-pandemic-to-boost-profits-claim-as-asia-europe-rates-explode/

Spot rates still climbing, but lack of empty boxes the prime worry for forwarders

Container spot rates continued to climb on the Asia-Europe trades this week on the back of strong demand and extremely tight capacity, in terms of both vessel and equipment availability.
Today’s Shanghai Containerised Freight Index (SCFI) published a rate of $1,5068 per teu for Shanghai-North Europe, an increase of $262 per teu on last week, up 21%.
The Shanghai-Mediterranean rate grew $310 per teu to finish the week on $1,674 per teu, …

The post Spot rates still climbing, but lack of empty...

https://theloadstar.com/spot-rates-still-climbing-but-lack-of-empty-boxes-the-prime-worry-for-forwarders/

More blank sailings as Hapag-Lloyd sets new Asia-N Europe freight rate record

THE Alliance plans to blank a quarter of its Asia-North Europe sailings in the first week of December, coinciding with lead line Hapag-Lloyd’s plans to hike its rates on the route by 70%.
The carrier advised customers yesterday that its FAK rate from Asia to North Europe from 1 December – excluding the UK – would increase by an eye-watering $2,000, to $4,890 per 40ft high-cubed (H/C).
For the UK, Hapag-Lloyd’s FAK …

The post More blank sailings as Hapag-Lloyd sets new Asia-N Europe freight rate...

https://theloadstar.com/more-blank-sailings-as-hapag-lloyd-sets-new-asia-n-europe-freight-rate-record/

+ More