Intra-Asia

Intra-Asia rates hit new highs as forwarders get ‘cold shoulder’ from carriers

Intra-Asia freight rates from China are soaring as forwarders discover “it’s not just Maersk” giving them the cold shoulder.
One forwarder in Shanghai told The Loadstar that 90% of container vessels departing China’s ports were delayed – bottlenecks in destination markets the main culprit.
He added: “After a period of soft rates for almost two months, sea freight prices have gone upwards again.
“The overall volume ex-China is less, but the overseas disruption …

The post Intra-Asia rates hit new...

https://theloadstar.com/intra-asia-rates-hit-new-highs-as-forwarders-get-cold-shoulder-from-carriers/

OOCL unveils ‘spectacular’ increases in first-quarter volumes and revenue

The scale of the improvement in the liner industry’s fortunes was laid bare today when OOCL released its first-quarter operational update showing its average revenue per container, across all trades, had increased 58.3%, year on year.
This was accompanied by a 28.3% year-on-year increase in volumes, which led to OOCL posting provisional Q1 21 revenue of $3bn, some 96% higher than its pandemic-afflicted first quarter of 2020.
The Hong Kong-headquartered line had …

The post OOCL unveils...

https://theloadstar.com/oocl-unveils-spectacular-increases-in-first-quarter-volumes-and-revenue/

Box shortages and port congestion now an ‘industry-wide challenge’ across Asia

Equipment shortages in Asia will get worse over the next two weeks, say carriers, impacting both deepsea and intra-Asia trades.
Maersk has told customers the strong cargo demand out of Asia Pacific would likely continue throughout the second-quarter, but…
“Schedule reliability is impacted by two main factors: recent delays from Europe via Suez Canal; and lower port productivity, especially on transpacific and European trade routes,” the company added.
As a result, the shortage …

The post Box...

https://theloadstar.com/box-shortages-and-port-congestion-now-an-industry-wide-challenge-across-asia/

Container trade ‘madness’ driving more Asia cargo to other modes

The “madness” of ex-Asia container rates is driving more un-boxing of containerised cargo.
And the resulting bounceback for breakbulk is providing a boon for secondary ports and shortsea shipping, according to chartering specialist Ahlers.
“New opportunities are arising for breakbulk, MPVs [multipurpose vessels] and ro-ro carriers,” the company said.
“Alongside some bigger MPVs being chartered for carrying containers, there is an increase in cargo volumes due to more containerised cargo coming...

https://theloadstar.com/container-trade-madness-driving-more-asia-cargo-to-other-modes/

OOCL profits are surfing the wave of soaring rates and demand

A very strong fourth-quarter 2020 operational update from OOCL is an indicator of the rich vein of profitability enjoyed by the liner industry since the middle of last year, despite the pandemic.
The liner barometer data released by the Hong Kong-based carrier’s parent, OOIL, reported Q4 revenue up a substantial 51.2% on the same quarter of the previous year, to $2.42bn.
Total liftings across OOCL’s four regions increased 23.7%, to 2,225,642 teu, …

The post OOCL profits are surfing the wave of...

https://theloadstar.com/oocl-profits-are-surfing-the-wave-of-soaring-rates-and-demand/

South Korean container lines set to launch K-Alliance on Asia trades

The post-Hanjin evolution of South Korea’s shipping industry took another step forward last month with the formation of the K-Alliance.
Comprising HMM, SM Line, Pan Ocean and recently merged Sinokor Merchant Marine and Heung-A Line, the alliance will strengthen the carriers’ competitiveness in South-east Asia, according to Korea’s ministry of oceans and fisheries (MOF).
It said the alliance represented about 40% of Korea’s annual container volumes of 480,000 teu with the region, …

The post South...

https://theloadstar.com/south-korean-container-lines-set-to-launch-k-alliance-on-asia-trades/

The real cost of ocean freight out of Asia is hitting ‘unbelievable’ heights

Notwithstanding further rate spikes this week, the Shanghai Containerized Freight Index (SCFI) is still understating the prices shippers are paying carriers, according to a senior analyst.
“It should be noted that the market is at a point where the SCFI is, in some cases, significantly underestimating actual rates paid,” said SeaIntelligence’s Lars Jensen.
However, the SCFI’s comprehensive index, reading 2,411.82, is 167% higher than a year ago, reflecting huge spot rate increases …

The post The...

https://theloadstar.com/the-real-cost-of-ocean-freight-out-of-asia-is-hitting-unbelievable-heights/

Peak season and port congestion surcharges spread to Asian tradelanes

Shipping lines have slapped a raft of peak season and port congestion surcharges on Asian tradelanes.
This week, Alphaliner said SCFI spot rates for Chinese exports were expected to keep rising, due to carriers’ peak season surcharges on “numerous routes or significantly higher FAK rates for December”.
For example, from 1 December, CMA CGM will introduce a peak season surcharge of $500 per teu from all Asian ports to Mediterranean and North …

The post Peak season and port congestion surcharges...

https://theloadstar.com/peak-season-and-port-congestion-surcharges-spread-to-asian-tradelanes/

Maersk doubles AE19 Asia-Europe rail capacity again as demand grows

Just months after transforming its Asia-Europe rail offering into a weekly service, Maersk is set to double capacity again and offer two departures a week.
The container carrier said demand for the AE19 service had outstripped supply in the wake of the coronavirus pandemic.
Volumes had nearly doubled in the immediate aftermath of the outbreak when shipping lines introduced widespread blanking programmes and many countries began social lockdowns.
Attracted by competitive prices as …

The post Maers...

https://theloadstar.com/maersk-doubles-ae19-asia-europe-rail-capacity-again-as-demand-grows/

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