There were further significant falls in spot rates on the key transpacific and Asia-Europe tradelanes this week.
Today’s publication of the Shanghai Containerized Freight Index (SCFI) shows Asia to the US west coast spot rates fell another 6%, to $1,345 per 40ft, and are a massive 51% below their peak in November.
And spot rates for US east coast ports suffered a further 4.9% fall, to $2,357 per 40ft, and have lost …
The post No relief for container shipping lines as rates on major trades...
Both of the major east-west tradelanes recorded significant falls on today’s Shanghai Containerized Freight Index (SCFI), reflecting an increasingly soft demand environment.
The Asia-Europe components of the SCFI saw container spot rates for North Europe decline 8.3% to $831 per teu, and rates for Mediterranean ports lose 6.8% to $857 per teu.
Despite ocean carriers cancelling 13 Asia-North Europe sailings to mitigate the impact of post-Chinese New Year weak demand, the lines …
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As anticipated, container spot rates softened across the major deepsea trades following the Chinese New Year factory holiday.
The Shanghai Containerized Freight Index (SCFI) this week recorded spot rates from Asia to North Europe down 5.6%, to $906 per teu, as carriers scrambled to fill their ships following the break.
But the rate erosion could have been much worse without the 2M’s last-minute decision to blank the sailing of the 19,437 teu …
The last Shanghai Containerized Freight Index (SCFI) before the Chinese New Year holiday has recorded a modest softening of spot rates on the transpacific, while carriers were able to hold rates steady between Asia and Europe.
Spot rates between Asia and the US west coast fell by 2.3% to $1,993 per 40ft and by 2.6% for east coast ports to $3,054 per 40ft.
Historically, freight rates on the transpacific usually drop sharply …
The post Transpacific spot rates soften early as carriers prepare for...
After a strong finish to 2018, container spot rates on the major east-west routes, as recorded by the Shanghai Containerized Freight Index (SCFI), nudged down slightly this week – but they remain notably higher than a year ago.
And with carriers announcing significant blank sailing programmes across their east-west networks around the Chinese new year holiday next month, rates look likely to hold reasonably steady in the coming weeks.
The European components …
The post Container spot rates hold...
2M partners Maersk Line and MSC have advised their Asia-Europe and transpacific customers of a number of blanked headhaul sailings next month, during the traditional Chinese New Year soft demand period.
The Chinese Year of the Pig commences on 5 February and the 2M will cancel two sailings to North Europe in weeks six, seven and eight, along with one voyage to the Mediterranean.
Between Asia and the US, Maersk and MSC …
The post 2M announces blank Asia-Europe and transpacific sailings for...
Hapag-Lloyd says none of the eight officers and 15 seafarers aboard were injured when fire broke out on one of its container vessels crossing the Atlantic.
The carrier said the blaze started in a container on the deck of the 7,500 teu Yantian Express. The fire then spread to adjacent boxes.
“Efforts to extinguish the fire in the containers have had to be suspended for the time being, due to a significant deterioration …
The post Crew reported safe after fire breaks out on containership Yantian...
https://theloadstar.co.uk/crew-reported-safe-after-fire-breaks-out-on-containership-yantian-express/
Asia-Europe ocean carriers from have announced further hikes in their FAK rates this month after successfully pushing through 1 January spot rate increases.
Alphaliner said rates on the route “remained firm in December, despite the resumption of the 2M’s AE2/Swan service”.
Hapag-Lloyd said that on 16 January, “due to strong demand”, it was increasing its FAK rates from Asia to North Europe and the west Mediterranean to $2,200 per 40ft.
Maersk Line has …
The post Strong demand keeping spot rates...
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 …
The post A festive rate respite, but...
https://theloadstar.co.uk/a-festive-rate-respite-but-carriers-may-be-in-for-a-bumpy-ride-in-2019/
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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