Asia-US east coast

Zim agrees long-term charters for ten LNG boxships for alliance loop

Israeli carrier Zim has agreed 12-year charters with non-operating containership owner Seaspan for ten 15,000 teu LNG-fuelled vessels. 
The ships will be constructed at the South Korean yard of Samsung Heavy Industries, which will commence deliveries in the first half of 2023. 
Zim said the vessels would be deployed on the Asia-US east coast trade, where it has a vessel-sharing agreement with the 2M Alliance. 
President and chief executive Eli Glickman said the deal represented “a …

The post Zim...

https://theloadstar.com/zim-agrees-long-term-charters-for-ten-lng-boxships-for-alliance-loop/

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/

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/

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/

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