Freightos Baltic Index (FBX)

West Coast ocean rates slide on easing demand, increasing capacity

Ocean rates out of Asia were stable last week for most lanes, with prices remaining at about their mid-July highs for the year.

But reports of forwarders and shippers having greater ease securing allocations and spot bookings, and projections for arriving US imports to start declining in September are contributing to expectations that rates will start decreasing in the coming weeks.

Prices from Asia to N. America’s West Coast have already started to slide, decreasing by 15% from their peak in the...

https://container-news.com/west-coast-ocean-rates-slide-on-easing-demand-increasing-capacity/

Ocean rates continue to ease post-Lunar New Year: Freightos analysis

Hostilities in the Red Sea intensified last week, and included the first seafarer casualties. But with most container traffic already avoiding the Suez Canal, demand easing as the market enters its slow season, and operations settling into a new routine, rates continued to ease across the major trade lanes.

Asia – North America ocean rates are down 10% from their peak, with Asia – North Europe prices 22% lower and Asia – Mediterranean rates 34% below their high in late January. Ocean logistics...

https://container-news.com/ocean-rates-continue-to-ease-post-lunar-new-year-freightos-analysis/

OOCL Sets The Bar For Another Quarter Of Dynamic Earnings

The Q3 ocean carrier reporting season has kicked off with OOCL’s third-quarter turbo-charged operational numbers, says an article published on The Loadstar.

Bellwether data

This bellwether data is confirmation that shipping lines have enjoyed another record quarter, while the collapse of demand in the latter weeks of the period will only impact earnings in Q4 onwards, due to the lag in voyage accounting.

Network liftings

Despite a 3.4% year-on-year decline in OOCL’s Q3 network liftings, to...

https://mfame.guru/oocl-sets-the-bar-for-another-quarter-of-dynamic-earnings/

Asia-USWC spot rates spike as Chinese New Year holiday looms

Container spot rates from Asia to the US west coast spiked this week, ahead of the Chinese New Year holiday on 1 February.
Drewry’s WCI US west coast component put on 5%, to $11,197 per 40ft, while the Freightos Baltic Index (FBX), which includes an element of premium fees, gained 3.5%, to $15,139.
For the US east coast, there were mixed messages from the spot indices, with the WCI up 2% on the …

The post Asia-USWC spot rates spike as Chinese New Year holiday looms appeared first on The Loadstar.

https://theloadstar.com/asia-uswc-spot-rates-spike-as-chinese-new-year-holiday-looms/

‘Snouts in the trough’ attack, as Maersk results are turbo-charged by 80% rate hike

As a harbinger of spectacular results from the liner industry for the final quarter of 2021, on the back of an 80% average rate increase and a new record for quarterly earnings, Maersk has again upgraded its full-year guidance.
Based on preliminary results, the Danish shipping company said today it expected to report up to a further $1.8bn in Q4 earnings, for a revised full-year ebit of $19.8bn.
Maersk said it would …

The post ‘Snouts in the trough’ attack, as Maersk results are turbo-charged by...

https://theloadstar.com/snouts-in-the-trough-attack-as-maersk-results-are-turbo-charged-by-80-rate-hike/

Tough contract talks loom for shippers ‘gobsmacked’ by rate increases

With capacity remaining extremely tight ahead of Chinese New Year, shippers are bracing for a further wave of rate increases on container trades out of Asia.
The spot rate indices this week were virtually unchanged – the Freightos Baltic Index (FBX) Asia-North Europe component stable at $14,496 per 40ft, and its US west coast and east coast readings at $14,924 and $16,865 per 40ft, respectively.
However, The Loadstar understands that carriers are …

The post Tough contract talks loom for shippers...

https://theloadstar.com/tough-contract-talks-loom-for-shippers-gobsmacked-by-rate-increases/

Forwarders ‘fear the worst’ and ‘don’t have a clue’ on shipping rates next year

Container spot rates are edging up again across most tradelanes, with a big spike expected in January ahead of the Chinese New Year holiday.
According to today’s Ningbo Containerized Freight Index (NCFI), 15 of its 21 routes recorded modest increases against a continuing backdrop of tight capacity.
And from Asia to North Europe, Drewry’s World Container Index (WCI) was flat, at $13,564 per 40ft, the Freightos Baltic Index (FBX) ticked up 1%, …

The post Forwarders ‘fear the worst’ and ‘don’t have...

https://theloadstar.com/forwarders-fear-the-worst-and-dont-have-a-clue-on-shipping-rates-next-year/

Maersk forwarder clients left in limbo as carrier restricts them to Spot deals

Maersk’s forwarding and NVOCC customers are being targeted by competitor lines as the Danish carrier prepares to restrict their bookings to its online Maersk Spot platform next year.
Meanwhile, container spot rate indices, the bedrock for the Maersk platform, are bucking the usual slack season trend and holding steady at highly-elevated levels.
A UK-based NVOCC told The Loadstar this morning his Maersk rep had admitted he could no longer offer him a …

The post Maersk forwarder clients left in...

https://theloadstar.com/maersk-forwarder-clients-left-in-limbo-as-carrier-restricts-them-to-spot-deals/

Rise in vessel speeds will increase GHG emissions

Demand for cargo on major trade lanes has increased substantially and the returns to the shipping lines and vessel owners have also increased with billions of dollars-worth of profits reported for the first quarter of this year by the lines and as the demand and profits have risen so have time charter rates and vessel speeds. Effectively raising carbon emissions too.

According to VesselsValue, average laden vessel speeds hit an all-time low in May 2020 with the pandemic spreading, demand...

https://container-news.com/rise-in-vessel-speeds-will-increase-ghg-emissions/

Booming Atlantic rates could see new services

Rumours of a new express Transatlantic service operated by COSCO Shipping out of Piraeus to New York will be no surprise as demand has sent rates through the roof with nearly US$900 added to westbound spot freight costs since the end of March.

If the claims are correct, the new COSCO service will be launched in June and will sail between the New York and Piraeus in nine days, with the expectation that there will be no port call in between. COSCO would not confirm or deny that the new service...

https://container-news.com/booming-atlantic-rates-could-see-new-services/

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