Asia-Mediterranean

More pain for shippers as ocean rates soar and carriers load surcharges

Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months.
Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates in excess of 100%.
This week saw another 9% increase in the SCFI for rates from Asia to North Europe, …

The post More pain for shippers as ocean rates soar...

https://theloadstar.com/more-pain-for-shippers-as-ocean-rates-soar-and-carriers-load-surcharges/

Ocean carriers still holding the upper hand with spot rates sky high

Container shipping spot rates on the main deepsea east-west trades this week maintained the historic highs seen in recent weeks.
Today’s Shanghai Containerised Freight Index demonstrates that carriers continue to hold the upper hand as the annual round of contract negotiations on the Asia-Europe trades looms.
The SCFI’s Shanghai-North Europe route ticked up $16 per teu to end the week on $1,100 per teu, while the Shanghai-Mediterranean leg nudged up $22 per …

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https://theloadstar.com/ocean-carriers-still-holding-the-upper-hand-with-spot-rates-sky-high/

Ocean rates still rising alongside ‘major problems’ for those on the front line

Today’s Shanghai Containerized Freight Index (SCFI) shows a further 10.65-point gain in its comprehensive index to 1,448.87 – 71% higher than at the end of May.
The huge increase over the past five months, in the midst of the pandemic, has been driven by substantial gains in container spot rates across both main and secondary tradelanes.
For example, on the secondary routes of Asia to Australasia, Asia to South Africa and Asia …

The post Ocean rates still rising alongside ‘major problems’ for...

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Spot rates hold steady as retailers anticipate consumers shopping early for Xmas

As China’s Golden Week national holiday comes to an end, container shipping spot rates on the main east-west trades have remained flat.
According to today’s Shanghai Containerised Freight Index (SCFI), spot rates on the Shanghai-North Europe trade fell a marginal $19 to $1,149 per teu.
On the Shanghai-Mediterranean route, the decline was just $9, to end the week on $1,202 per teu.
Year-on-year comparison demonstrates just how remarkably strong the carriers’ position on …

The post Spot rates hold...

https://theloadstar.com/spot-rates-hold-steady-as-retailers-anticipate-consumers-shopping-early-for-xmas/

Transpacific payback from rates spike greater for carriers offering more capacity

Ocean carriers Cosco and CMA CGM will see a larger return than their peers from the transpacific spot rate spike, due to their greater exposure to the trade, according to new Alphaliner analysis.
Since mid-May, container spot rates from Asia to the US, as recorded by the Shanghai Containerized Freight Index (SCFI), have soared by 130% to the US west coast and 82% to US east and Gulf coast ports.
“A breakdown …

The post Transpacific payback from rates spike greater for carriers offering more...

https://theloadstar.com/transpacific-payback-from-rates-spike-greater-for-carriers-offering-more-capacity/

Slack season? Not on shipping lanes, where high demand still holds sway

Despite the start of the traditional slack season – as China’s Golden Week holiday gets underway – there seems no easing of the demand spike from Asia to the US and Europe.
And reports to The Loadstar suggest some factories in China are continuing production during the holiday to catch up with the backlog of orders.
Capacity on sailings to the US and Europe remains “extremely tight” through to November, according a …

The post Slack season? Not on shipping lanes, where high demand still holds sway

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Transpacific rates bull run takes a breath as Golden Week holiday looms

Container spot rates on the transpacific eased back this week, suggesting the bull run on the trade may be ending.
Today’s final publication of the Shanghai Containerized Freight Index (SCFI) before the Chinese Golden Week holiday recorded an $11 decrease for rates to the US west coast, to $3,856 per 40ft, and down $9, to $4,625, to the east coast.
SeaIntelligence’s Lars Jensen said: “This is of course not a guarantee that we …

The post Transpacific rates bull run takes a breath as Golden Week...

https://theloadstar.com/transpacific-rates-bull-run-takes-a-breath-as-golden-week-holiday-looms/

Asia-US spot rates pushed to new highs, despite warnings from China and FMC

Container spot rates from Asia to the US, including space guarantees and equipment priority fees, have topped $4,000 per 40ft to the US west coast and $5,000 to the east coast.
Despite “guidance” by the Chinese Ministry of Transport and a warning by the US Federal Maritime Commission (FMC), several carriers have pushed ahead with their 15 September GRIs.
The FMC warned it may seek an injunction for a ‘collusion’ breach of …

The post Asia-US spot rates pushed to new highs, despite warnings from...

https://theloadstar.com/asia-us-spot-rates-hit-new-heights-despite-warnings-from-china-and-the-fmc/

Demand driving transpacific prices sky high, with Asia-Europe benefiting too

Container spot freight rates on the transpacific trades leapt this week, with prices from Asia to US west coast ports sailing way above $3,000 per feu – and looking set to jump higher.
Today’s Shanghai Containerised Freight Index (SCFI) reading – prices quoted for next week – was $3,406 per feu, an increase of 8.3% over last week’s reading of $3,144.
It showed a slight variation with the midweek Freightos Baltic Index …

The post Demand driving transpacific prices sky high, with Asia-Europe...

https://theloadstar.com/demand-driving-transpacific-prices-sky-high-with-asia-europe-benefiting-too/

Strong demand on Asia-Europe sees carriers hike rates and bring in surcharges

Demand remains strong on the Asia-North Europe trade, with full ships encouraging carriers to increase rates and introduce peak season surcharges (PSSs).
CMA CGM today announced an increase in its 40ft FAK rate of $100, to $2,300, effective 1 August, and has introduced a $200 per teu PSS for July, which it is yet to extend into August.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a 1.4% increase in the spot rate …

The post Strong demand on Asia-Europe sees carriers hike rates and...

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