Chinese New Year

South Carolina Ports volumes holding steady

TEUs during coronavirus pandemic

The South Carolina Ports Authority (SCPA) said it finished fiscal year 2020 with “relatively steady volumes” despite waves of canceled sailings and supply chain disruptions caused by the coronavirus pandemic.

The SCPA finished the fiscal year with 2.32 million twenty-foot equivalent units (TEUs) handled at the Wando Welch and North Charleston container terminals. That’s down 2.8% from fiscal year 2019.

The SCPA’s fiscal year runs from July 1 to June 30. It said the first eight months of the 2020...

https://www.freightwaves.com/news/south-carolina-ports-volumes-holding-steady

Carriers have pulled 1.67m teu of capacity out of China, costing $1.5bn

Ocean carriers have withdrawn more than 1.67m teu of export capacity from China since the lunar new year holiday, according to an Alphaliner survey.
Based on an average freight rate of $1,000 per teu, the cumulative revenue lost to the carriers will have exceeded $1.5bn, putting some of the less-financially secure container lines at risk.
And with a significant link in the supply chain broken, manufacturers worldwide face lengthy shutdowns due to …

The post Carriers have pulled 1.67m teu of...

https://theloadstar.com/carriers-have-pulled-1-67m-teu-of-capacity-out-of-china-costing-1-5bn/

Coronavirus may be costing container shipping lines $350m every week

Ocean carriers could be losing up to $350m on turnover every week, due to the coronavirus crisis.
The 2M alliance partners, Maersk and MSC,  today confirmed two further void sailings from North Europe to Asia – a knock-on effect of a raft of headhaul blankings which have threatened to stymie the supply chain for European exporters.
The 2M officially withdrew its AE2/Swan eastbound loop, with the Marseille Maersk vessel advertised to start loading …

The post Coronavirus may be costing container...

https://theloadstar.com/coronavirus-may-be-costing-container-shipping-lines-350m-every-week/

More blank voyages as ONE expects a slide back into the red

Japanese carrier ONE has forecast a $49m loss for the current quarter, blaming weak demand following the Chinese new year.
To mitigate the soft booking outlook, ONE and its member partners of THE Alliance will blank further sailings in Q1.
The vessel-sharing group cancelled 12 voyages to Europe and 31 departures to North America in the final quarter of last year.
The merged container businesses of K Line, MOL and NYK scraped a …

The post More blank voyages as ONE expects a slide back into the red

https://theloadstar.com/more-blank-voyages-as-one-expects-a-slide-back-into-the-red/

Ocean freight rates set to spike as carriers ride out coronavirus storm

Ocean carriers are preparing to idle more ships in Asia as the ripples from the coronavirus outbreak in China hit production.
But for ships that do sail, container spot rates are likely to spike dramatically, and remain high until the pent-up demand from frustrated orders is satisfied.
In the last reading prior to the CNY shutdown, the Shanghai Containerized Freight Index (SCFI) recorded a spot rate of $969 per teu from Asia …

The post Ocean freight rates set to spike as carriers ride out...

https://theloadstar.com/ocean-freight-rates-set-to-spike-as-carriers-ride-out-coronavirus-storm/

Gong Xi Fat Cai! Freight rates out of Asia hold steady as Year of the Rat begins

On the eve of Chinese New Year, container freight rates out of Asia remained largely unchanged from the week before, as the country begins its annual two-week public holiday, with factories mostly shut and port and shipping activity muted.
However, after several weeks of blanked sailings, shippers and forwarders – particularly on the Asia-Europe trades – can expect container rollovers and delays to shipments, according to Martin Holst-Mikkelsen, head of ocean …

The post Gong Xi Fat Cai! Freight...

https://theloadstar.com/scfi-and-gong-xi-fat-cai/

Asia-Europe Carriers Discharge Containers in China For Increased Payout

  • Asia-North Europe ocean carriers have been discharging containers loaded in China.
  • The containers are offloaded at transhipment ports en route to accommodate better-paying cargo.
  • SCFI recorded a 4.5% dip in spot rates for North Europe to $1,010 per teu post-CNY bookings.
  • SCFI ticked up 1.2% this week for US west coast ports, to $1,562 per 40ft.
  • For east coast destinations, there was a 1.9% increase, to $2,943 per 40ft.

According to an article published in The Loadstar, this month has seen the...

http://mfame.guru/asia-europe-carriers-discharge-containers-in-china-for-increased-payout/

Carriers unveil rate hikes and surcharges ahead of CNY cargo rush

Ocean carriers are launching a raft of GRI and FAK rate increases next week to take advantage of an expected cargo rush ahead of the early Chinese New Year  (CNY) holiday in January.
The lunar festival  for the Year of the Rat starts on 25 January, and carriers are already claiming they are see “strong market demand” for space.
Accordingly, they have also started announcing separate peak season surcharges (PSSs) across a …

The post Carriers unveil rate hikes and surcharges ahead of CNY cargo rush

https://theloadstar.com/carriers-unveil-rate-hikes-and-surcharges-ahead-of-cny-cargo-rush/

Shadow of recession adds to carrier woes as rates fall after Chinese holiday

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 post Shadow of recession adds to carrier woes as...

https://theloadstar.co.uk/shadow-of-recession-adds-to-carrier-woes-as-rates-fall-after-chinese-holiday/

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