Freight rates spike

HMM To Operate Two Additional Ships

HMM Co., announced that it has deployed two additional ships to cope with soaring freight costs amid the new coronavirus pandemic, says an article published in YonhapNews Agency.

2 Additional HMM vessels 

According to the Ministry of Oceans and Fisheries, HMM will operate two additional 16,000 twenty-foot-equivalent unit (TEU) ships. 

SK to add 8 vessels

South Korea earlier announced a plan to add eight shipping vessels by June under ties with HMM.

It plans to continue to keep a close watch on the...

https://mfame.guru/hmm-to-operate-two-additional-ships/

Container Shortage Makes Carrier Prices Only Valid for a Week

  • Vessel Shortages expected through Lunar New Year
  • Freight rates doubled in major Asian routes. 
  • Asian polymers hit by delays, price rises
  • Maersk’s Taiwan-India rate tops $4,000/FEU
  • The extremely volatile market is making prices valid only for a week. 
  • The container Shortage is likely to spill over the first quarter of 2021.

According to a Platts report, vessel capacity shortages and trade disruptions in Asia’s container shipping markets are impacting the region’s polymer trade flows and prices,...

https://mfame.guru/container-shortage-makes-carrier-prices-only-valid-for-a-week/

Fleeting Surge in Oil Tanker Rates Could Cause a Boom in Market

A surge in the cost of hiring oil tankers last month may already seem like a distant memory, but the rally was enough to convince analysts monitoring the industry’s fortunes that a couple of boom years are on the way, reports Bloomberg.

Freight rates spike

Daily earnings for very large crude carriers, the market’s biggest vessels, will jump to $51,000 next year, according to a survey of 11 analysts by Bloomberg this month. Their estimates are also up by 20% from what they were anticipating as...

http://mfame.guru/fleeting-surge-in-oil-tanker-rates-could-cause-a-boom-in-market/