Intra-Asia

Container shortage crisis spreads to intra-Asia trades, driving prices higher

What a major shipping line called the “black swan” container shortage has hit intra-Asia trades as carriers prioritise transpacific profits.
With some 30m teu carried each year, the intra-Asia tradelane is the largest in the world, comprising around 100 port pairs.
Costs have traditionally been kept in check, there’s been less carrier consolidation than on deepsea trades, with major regional players competing for cargo.
However, these previously low-cost shipping routes are now seeing …

The post

https://theloadstar.com/container-shortage-crisis-spreads-to-intra-asia-trades-driving-prices-higher/

More pain for shippers as ocean rates soar and carriers load surcharges

Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months.
Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates in excess of 100%.
This week saw another 9% increase in the SCFI for rates from Asia to North Europe, …

The post More pain for shippers as ocean rates soar...

https://theloadstar.com/more-pain-for-shippers-as-ocean-rates-soar-and-carriers-load-surcharges/

Carriers have weathered the Covid storm, suggests OOCL trading update

OOCL carried fewer boxes but improved its revenue in the second quarter, providing the industry with some hard evidence that ocean carriers successfully managed the demand turbulence of the pandemic.
The Cosco subsidiary saw liftings decline 4.6% in the quarter, compared with the same period of the previous year, to 1,688,055 teu. However, turnover was up 1.1% to $1.58bn.
The operational data released byOOIL is a useful bellwether for the upcoming carrier results …

The post Carriers have...

https://theloadstar.com/carriers-have-weathered-the-covid-storm-suggests-oocl-update/

MSC Launches New South-east Asia Loop ‘Seahorse’

  • MSC has become the latest shipping line to revamp its intra-Asia service offering.
  • MSC has updated four existing intra-Asia services.
  • It is launching a new South-east Asia loop named Seahorse.
  • It links Tanjung Pelepas, Singapore, Jakarta, Yantian, Kaohsiung, Manila, Vung Tau and Laem Chabang.
  • This move will offer direct connections and competitive transit times.
  • It is applicable for long-haul cargo from Greater China and South-east Asia.

According to an article published in The Loadstar, MSC...

https://mfame.guru/msc-launches-new-south-east-asia-loop-seahorse/

Booming intra-Asia trade pushes carriers to launch more services

MSC has become the latest shipping line to revamp its intra-Asia service offering amid strengthening China-Asean trade.
From this week, MSC has updated four existing intra-Asia services and is launching a new South-east Asia loop named Seahorse, which links Tanjung Pelepas, Singapore, Jakarta, Yantian, Kaohsiung, Manila, Vung Tau and Laem Chabang.
“Customers are showing increasing demand for new services to move cargo between key locations in Asia,” said the carrier.
“These enhancements to …

The...

https://theloadstar.com/booming-intra-asia-trade-pushes-carriers-to-launch-more-services/

Commentary: Intra-Asia trade waving economic distress flag

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

A recent “surge” in containers from China has created a plethora of bullish headlines signaling a possible turnaround. Well, don’t pop the champagne yet. The flow of trade within a critical supply chain trade route will tell you to put that bottle of bubbly back on ice.

A line of drayage tractors wait to be unloaded at portside.
(Photo credit: Jim...

https://www.freightwaves.com/news/commentary:-intra-asia-trade-waving-economic-distress-flag

Sea-air and coastal shipping look more viable for cargo heading down under

Shippers should consider options such as air-sea cargo and coastal shipping to send goods to Australia and New Zealand.
According to CH Robinson, it’s vital to explore a variety of transport modes to keep supply chains moving.
Andrew Coldrey, CH Robinson’s vice president for Oceania, said: “The airfreight market is fluid and changing daily, therefore it may be beneficial for international goods to be transported using both air and ocean shipping.”
Indeed, forwarders …

The post Sea-air and...

https://theloadstar.com/sea-air-and-coastal-shipping-look-more-viable-for-cargo-heading-down-under/

Strong first quarter for OOCL, but the pandemic impact is still to be seen

Cosco Shipping subsidiary OOIL’s container arm, OOCL, saw just a 0.4% year-on-year decline in liftings in the first quarter, but revenue was up 5.5%.
However, the Hong Kong-based carrier’s seemingly strong operational performance – a possible bellwether for forthcoming liner financial results – does not include a great deal of the negative impact from the Covid-19 pandemic.
The number of containers carried across OOCL liner trades in the quarter was 1,598,422 teu, …

The post Strong first quarter...

https://theloadstar.com/strong-first-quarter-for-oocl-but-the-pandemic-impact-is-still-to-be-seen/

New intra-Asia sea freight services pick up the slack from grounded air capacity

New intra-Asia container shipping services are keeping rates down and competition up, and even picking up the slack for the region’s lack of air cargo capacity.
Carriers have launched services covering South-east Asian ports, Mr Sundara, Asia Pacific ocean freight director at Scan Global Logistics (SGL), told The Loadstar.
“There’s ample space and rates are competitive. Global carriers are utilising space between intra-Asia moves, which is also putting pressure on the region’s niche carriers.”
T...

https://theloadstar.com/new-intra-asia-sea-freight-services-pick-up-the-slack-from-grounded-air-capacity/

Drop in box shipping contract rates points to ‘a recession of seismic proportions’

Long-term container shipping contracts have registered their first pricing decline since last October, prompting fears that the industry is heading towards “a recession of seismic proportions”.
According to figures published today by Xeneta, its crowd-sourced freight rate benchmarking platform XSI Public Indices saw a 0.5% decline in long-term contracted rates this month, following “a sustained period of growth”.
Year on year, the XSI was up 5.8% on March 2019 and up 2.2% …

The post Drop in box...

https://theloadstar.com/drop-in-box-shipping-contract-rates-points-to-a-recession-of-seismic-proportions/

+ More