Asia-US east coast

Asia-Europe rates continue to strengthen as carriers launch IMO 2020 tariffs

The European components of the Shanghai Containerized Freight Index (SCFI) recorded a second consecutive week of spot rate gains this week as carriers successfully increased their FAK rates and imposed peak season surcharges (PSSs).
However, the star of the show was the Asia to the Mediterranean tradelane, which saw an 18.4% surge to $850 per teu after strong demand. Rates on the route have now recovered to the same level as …

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Peak season capacity cuts hit home as Asia-Europe spot rates edge back up

After weeks of erosion, Asia-North Europe container spot rates appear to have responded to peak season capacity cuts and are edging back up. 
The North Europe component of today’s Shanghai Containerized Freight Index (SCFI) recorded a 12.2% increase in rates to $754 per teu, while rates for Mediterranean ports were up by a more modest 3.3%, to $718 per teu. 
Asia-North Europe ocean carriers serving the route have withdrawn some 150,000 teu of capacity this month …

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Peak season, what peak season? ask worried Asia-Europe ocean carriers

There was a further slippage this week in container spot rates for the European components of the Shanghai Containerised Freight Index (SCFI).
Of concern for Asia-Europe ocean carriers is that rates have so far failed to improve in the first month of the traditional peak season – for North Europe, they have now slumped by over 30% since the beginning of the year.
The SCFI recorded North Europe rates down another 1.7%, …

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Asia-Europe carriers struggle, but transpacific could see new front-loading boost 

Asia-North Europe carriers continue to discount rates to fill their ships, suggesting that the usual pre-peak season recovery will be late, if it happens at all this year. 
CMA CGM has slashed its headhaul FAK rate on the tradelane by $200 from 16 June, to $1,700 per 40ft as spot rates continue to slide. 
The North Europe component of the Shanghai Containerized Freight Index (SCFI) declined a further 4.4% this week, to $745 per teu, and spot rates on …

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Asia-Europe rates flatten, but carriers remain optimistic that a strong peak season awaits

The Shanghai Containerized Freight Index (SCFI), which was published one day early this week in view of a public holiday in China today, shows little sign of any traction for container spot rates from Asia to Europe.
Ocean carriers are hoping for the traditional pre-peak season boost for rates from Asia to North Europe and the Mediterranean but as every week goes by the outlook is more uncertain.
Speaking during the Hapag-Lloyd …

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April import boost for US ports may be the ‘quiet before the tariff storm’

Container imports last month at the 10 largest US box terminals increased by 6.6% year on year to 1.65m teu.
According to Blue Alpha Capital, this follows a 4.7% uplift in imports in March and a 2.3% increase over the past three months.
However, April was very much a tale of two coasts, as east coast and Gulf port imports soared 11.5%, to 779,711 teu, while west coast numbers were up a …

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Soft demand pushes Maersk to slash Asia-Europe FAK rates as peak season looms

Maersk Line has announced it is cutting its FAK rates from Asia to Northern Europe from 16 May, as ocean carriers serving the trade continue to suffer from soft demand ahead of the peak season.
The Danish container line will slash its rate from Shanghai to North European ports by $300, to $1,600 per 40ft, as it begins to feel the heat from the launch of the Ocean Alliance’s additional seventh …

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More blank sailings will tighten capacity to push spot rates up for peak season

There was a modest uptick this week for spot rates to North Europe, a decline for the Mediterranean ports and a rate hike respite for transpacific shippers.
The Shanghai Containerized Freight Index (SCFI), published yesterday due to a public holiday in China today, saw rates to North Europe up 1.1% to $658 per teu, while Mediterranean rates fell by 1.9% to $711 per teu.
CMA CGM has extended its March Asia-North Europe …

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Slide in container freight rates may be beginning to level out

Freight rates on the major east-west container trades continued to slide this week – although the precipitous fall during previous weeks has finally begun to flatten out.
According to this week’s Shanghai Containerised Freight Index (SCFI), the freight rate from China to North Europe has dipped below the $700 per teu mark, down some 4.2% week on week to today’s $684 per teu.
Rate levels on the China-Mediterranean leg also declined, by …

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Soft demand and falling rates push 2M to blank another Asia-USEC sailing

2M partners Maersk Line and MSC have announced plans to blank sailings between Asia and the US east coast, as carriers attempt to curtail an increasingly steep spot rate slide through restricting capacity.
A statement from MSC indicated the trade was still suffering from a post-Chinese New Year demand slump.
“MSC would like to inform customers about an additional blank sailing during week 14 to rationalise capacity supply from Asia to the …

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