GRIs fuel container spot prices, reverse the “post-Chinese New Year rate correction”

The Drewry World Container Index (WCI) reported a 16% increase touching US$3,159 stemming an 11-week phase of decline and stability, led primarily by the Gross Rate Increases from carriers.

The primary resurgence was led by rates from Asia- Europe which clocked an upside of 20% ending at US$3,709. This was further supported by rates from Asia-Mediterranean and Asia to the US. While Shanghai-Genoa rates hit US$4,295, appreciating 16%, the Shanghai-Los Angeles trade saw an 18% upswing, ending just...

https://container-news.com/gris-fuel-container-spot-prices-reverse-the-post-chinese-new-year-rate-correction/

China backhaul costs mirror headhaul rate shifts

Rates on the Europe to Asia trades have mirrored headhaul trades with China’s import cargo paying more for carriage since the Red Sea crisis hit the industry in December.

At the end of last year, eastbound cargo out of European ports of origin was US$303/FEU, in January, as in the headhaul trade, rates started to climb as carriers diverted around the Cape, peaking at US$1,066/FEU on 1 February according to Xeneta, which shows rates on the slide again, now down to US$866/FEU.

“These developments...

https://container-news.com/china-backhaul-costs-mirror-headhaul-rate-shifts/

Weak demand puts paid to talk of empty box crisis

Fears that there is a looming empty repositioning crisis in Asia have subsided as weak demand and the continued growth in capacity have combined to see rates slide in the post-Chinese New Year period.

Hong Kong analyst Linerlytica reported that the “freight rate correction has gathered pace,” as “carriers failed to defend their pre-Chinese New Year gains.” According to Linerlytica the SCFI had lost 6.2% during the previous week.

The analyst attributed the slide in rates to weak demand that had...

https://container-news.com/weak-demand-puts-paid-to-talk-of-empty-box-crisis/

COLUMN | The Twelve Days of Christmas 2023: Days 4 to 6: Seadrill, Gulf Drilling International and ADES; five shipping magnates on future fuels; six corrupted states and Al Jazeera [Offshore Accounts]

On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but at Baird Maritime, that’s the cue for a dozen topical features about the offshore industry. Lovers of festive traditions get scrolling, as for the fourth year in a row, we […]

The post COLUMN | The Twelve Days of Christmas 2023: Days 4 to 6: Seadrill, Gulf Drilling International and ADES; five shipping magnates on future fuels; six corrupted states and Al Jazeera...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-the-twelve-days-of-christmas-2023-days-4-to-6-seadrill-gulf-drilling-international-and-ades-five-shipping-magnates-on-future-fuels-six-corrupted-states-and-al-jazeera-offshore-accounts/

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