Asia-US east coast

Large swell in 22-knot wind caused idling Madrid Bridge to roll and lose boxes

New evidence has emerged as to the cause of the container collapse on the ONE-operated Madrid Bridge, which has the dubious distinction of being the first overboard box incident of 2022.
An initial investigation – a copy of which has been passed to The Loadstar – reveals that the vessel had begun idling south of the Azores, in the mid-Atlantic, on 2 January to delay its arrival at the port of New …

The post Large swell in 22-knot wind caused idling Madrid Bridge to roll and lose boxes appeared...

https://theloadstar.com/large-swell-in-22-knot-wind-caused-idling-madrid-bridge-to-roll-and-lose-boxes/

Tough contract talks loom for shippers ‘gobsmacked’ by rate increases

With capacity remaining extremely tight ahead of Chinese New Year, shippers are bracing for a further wave of rate increases on container trades out of Asia.
The spot rate indices this week were virtually unchanged – the Freightos Baltic Index (FBX) Asia-North Europe component stable at $14,496 per 40ft, and its US west coast and east coast readings at $14,924 and $16,865 per 40ft, respectively.
However, The Loadstar understands that carriers are …

The post Tough contract talks loom for shippers...

https://theloadstar.com/tough-contract-talks-loom-for-shippers-gobsmacked-by-rate-increases/

Shipping rates rocketing again, with contract talks ‘a game of musical chairs’

Container spot rates are beginning to head upwards again across all trades from already elevated levels, as carriers reduce their commitment to contract volumes in favour of much higher FAK rates.
The Freightos Baltic Index (FBX) China-North Europe component edged up to $7,316 per 40ft this week, and market reports to The Loadstar suggest rates on the route are set to soar again next week, returning to their mid-February peak of …

The post Shipping rates rocketing again, with contract talks ‘a...

https://theloadstar.com/shipping-rates-rocketing-again-with-contract-talks-a-game-of-musical-chairs/

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/

2M and Zim Set to Increase Asia-US East Coast Capacity With New Service

The 2M partners Maersk and MSC, and their transpacific partner Zim are set to increase Asia-US east coast capacity with a new service in May, reports The Loadstar.

Dubbed the TP23/Palmetto service, it will deploy 10 6,500 teu vessels, with eight provided by Maersk and two from Zim.

Address the Capacity and Scheduling Issues

The service, which will transit the Panama Canal, has a proforma rotation of Vung Tau-Yantian-Savannah-Charelston-New York, although the carrier said that initially the calls...

https://mfame.guru/2m-and-zim-set-to-increase-asia-us-east-coast-capacity-with-new-service/

Anger as Maersk suspends contract bookings, sparking scramble for capacity

Maersk’s decision to “temporarily suspend” spot and short-term contract bookings from Asia following the Suez Canal blockage has left forwarders and NVOCCs scrambling for alternatives.
The carrier said on Tuesday it estimated a loss of capacity across its network of up to 30% “over multiple weeks”, in addition to equipment shortages in Asia.
One UK forwarder The Loadstar spoke to today said although he appreciated the difficulties for Maersk, he was “shocked” …

The post Anger as Maersk suspends...

https://theloadstar.com/anger-as-maersk-suspends-contract-bookings-sparking-scramble-for-capacity/

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/

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