Asia-North Europe

A festive rate respite, but carriers may be in for ‘a bumpy ride’ in 2019

The penultimate reading from the Shanghai Containerized Freight Index (SCFI) for 2018 saw continued erosion of spot rates on the transpacific, countered by gains on the Asia-Europe trades.
With US retailers now reported to be overstocked after the advance booking rush to beat the postponed 1 January tariff hike on Chinese imports, demand is proving weaker than the seasonal norm, forcing carriers into heavy discounting.
For the US west coast, spot rates …

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THE Alliance unveils Transpacific-Europe pendulum service in 2019 network shake-up

THE Alliance members Hapag-Lloyd, Ocean Network Express(ONE) and Yang Ming have published details of a rationalised revamped network for east-west trades effective from next year which will include a new pendulum service.

The new service network, which is subject to the usual regulatory approvals, is expected to commence shortly after the Chinese New Year, which falls in early February 2019.

The standout feature of THE Alliance service restructure is its new east-west …

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Return of AE2/Swan service dampens carrier hopes of Asia-Europe rate hike

The reactivation of the 2M’s AE2/Swan Asia-North Europe loop this week has poured cold water on plans by carriers to raise FAK rates.
The lines were looking at an increase of around $200 per teu from 15 December, but the addition of 18,000–20,000 slots on the Maersk and MSC ULCVs seems to have put paid to any hope of a rate increase until demand picks up ahead of Chinese New Year in …

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Transpacific box rates still slipping as tariff talk hangs over peak season

Container spot rates on the transpacific suffered again this week: Asia to the US east coast slumping by $250 per 40ft.
Following an 11% fall last week in spot rates to US west coast ports, this suggests the demand spike brought about by US importers looking to beat the 25% tariffs on Chinese goods in January has abated on the trade.
At its peak it saw volume growth of around 13%, year …

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Spot rates hold steady as carriers take advantage of shipper rush to beat tariffs

OOCL has announced the cancellation of four Ocean Alliance headhaul transpacific sailings next month.
This suggests forward bookings are resuming normal seasonal demand patterns after the rush to beat 1 January import duty hikes.
Four Ocean Alliance loops will blank sailings in weeks 48, 49, 50 and 51, which OOCL said was “in response to the expected low demand during the upcoming Christmas and new year period”.
Until then, carriers are taking full advantage …

The post Spot rates hold steady as...

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London Gateway wins 2M Asia-Europe service as Maersk tries to reduce ‘unexpected disruptions’

London Gateway has won its second Asia-Europe deep sea service after Maersk Line announced that the 2M’s AE7/Condor service will transfer its UK port call from Felixstowe at the end of this month, as pressure on inland container supply chains continues to mount.
In a customer announcement the Danish carrier said that the last call at Felixstowe would be the MSC Diana, due to arrive on 20 November.
The following week, Maersk’s …

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2M confirms reintroduction of AE2/Swan Asia-North Europe loop next month

The 2M alliance has confirmed that it will reintroduce its AE2/Swan Asia-North Europe loop in the second week of December.
The move will put back about 6% of capacity to a tradelane where forward booking prospects are uncertain.
Drewry today described the decision as a “pivotal moment” in the Asia to Europe calendar.
“A big drop in spot rates now would weaken carriers’ hands and make it far harder to secure improvement over the …

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Slowing growth and more new ULCVs widen container supply and demand gap

Sluggish growth, combined with the delivery of more ultra-large container vessels (ULCVs) in the past month, has widened the gap between supply and demand.
According to Alphaliner data, 1.21m teu of new container tonnage hit the water in the first 10 months of this year, of which 83% was for ships of 10,000 teu and above.
Moreover, the consultant expects a further 140,000 teu of new containerships to arrive during November and December.
With …

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Cancelled sailings prop up Asia-Europe spot rates, but demand looking uncertain

The Asia to North Europe component of the Shanghai Containerised Freight Index (SCFI) recorded a 4.7% uplift in spot rates this week to $761 per teu, underpinned by a raft of cancelled October headhaul sailings by carriers.
Compared with the same week last year, container spot rates on the route are approximately 2% higher, but the profitability of the container lines is being severely dented by a year-on-year 43% hike in bunker …

The post Cancelled sailings prop up Asia-Europe spot rates, but...

https://theloadstar.co.uk/cancelled-sailings-prop-asia-europe-spot-rates-demand-looking-uncertain/

Carrier efforts to stabilise Asia-Europe capacity keep spot rates steady

Carrier action to curtail capacity on the Asia-North Europe trade this month appears to have been a success, judging by this week’s Shanghai Containerised Freight Index (SCFI).
After several weeks of declining spot rates following China’s Golden Week holiday and this year’s peak shipping season, Asia-North Europe spot rates have held onto the stability seen last week.
The SCFI’s Shanghai-North Europe component showed a marginal decline of just $4, to finish the week …

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