NCFI

Collapse Of Spot Rates And Falling Demand

Container spot rates from China to Middle East and intra-Asia routes are reported to have “collapsed” this week, with prices to Europe and the US coming under intense pressure. Nevertheless, two ocean carriers remain bullish on maintaining profitability, as the liner industry adjusts to ‘normalisation’, reports The Loadstar.

NCFI

The Ningbo Containerized Freight Index (NCFI) reported a 30% slump in its Thailand and Vietnam component and a 22% decline in its Middle East index.

“Carriers cut prices...

https://mfame.guru/collapse-of-spot-rates-and-falling-demand/

Box lines firmly in control – charging ‘what they like’ on almost every trade

Container freight indices are on the rise again, but even at their highly elevated levels they mask the true cost of shipping.
For example, the Freightos Baltic Index (FBX) North European component jumped by 6% this week, to $7,791 per 40 ft – a huge 450% increase on the rate a year ago, but still unlikely to turn the heads of carriers that can easily fill ships with containers paying double …

The post Box lines firmly in control – charging ‘what they like’ on almost every trade appeared first...

https://theloadstar.com/box-lines-firmly-in-control-charging-what-they-like-on-almost-every-trade/

Ripples from Suez ending in waves of price rises on all container tradelanes

There are reports of “sharp increases” in Asia-Europe container spot rates this week, as the fallout from the week-long Suez Canal blockage restricts both vessel and equipment capacity in Asia.
Today’s Ningbo Containerized Freight Index (NCFI) North Europe and Mediterranean component jumped by 8.7%, almost matching the 8.6% increase on the Shanghai Containerized Freight Index (SCFI).
“Carriers collectively pushed up rates for April voyages and booking prices rose sharply,” said the NCFI …

The...

https://theloadstar.com/ripples-from-suez-ending-in-waves-of-price-rises-on-all-container-tradelanes/

Blockage In The Suez Canal To Cause Container Spot Rates To Escalate

Container spot rates from Asia to Europe look set to surge again, as carriers are obliged to blank sailings in response to the Suez Canal blockage, reports The Load Star.

Covering extra fuel cost

The Loadstar understands that shipping lines are considering introducing a Cape surcharge for vessels that are diverted around Africa to recover the extra cost of bunker fuel consumed in the additional seven to 10-day transit.

Christoph Baumeister, senior trade manager, Asia/ISC Europe at Flexport, said...

https://mfame.guru/blockage-in-the-suez-canal-to-cause-container-spot-rates-to-escalate/

Carriers ‘cherry-picking’ customers as rates continue to head north

Container spot rates from Asia may have eased slightly from their record highs, post-Chinese new year, but rates for backhaul and secondary trades continue to head north.
According to today’s Freightos Baltic Index (FBX), the spot rate for North Europe is $7,684 per 40ft, down from more than $8,000 at the beginning of the month.
However, the FBX reading for Mediterranean ports, of $7,990 per 40ft, has held steady, while the spot …

The post Carriers ‘cherry-picking’ customers as rates continue to...

https://theloadstar.com/carriers-cherry-picking-customers-as-rates-continue-to-head-north/

Rates misery for ocean shippers set to continue after Chinese New Year

Shippers face many more months of inflated freight rates, as ocean carriers show no sign of easing their strategy of keeping capacity tight and favouring high-paying spot cargo. 
In a customer Q&A session this morning, Hapag-Lloyd CEO Rolf Habben Jansen said the carrier was still “flooded with bookings”. 
He said: “It will be well into the second quarter before we get back to anywhere near normal,” And he added: “For the first time …

The post Rates misery for ocean shippers set to continue after...

https://theloadstar.com/rates-misery-for-ocean-shippers-set-to-continue-after-chinese-new-year/

Carriers ‘Unblank’ Sailings Due To Spike in Container Spot Rates

  • A massive spike in transpacific container spot rates was noticed.
  • This encouraged ocean carriers servicing the route to ‘unblank’ more sailings to meet market demand.
  • Shanghai Containerized Freight Index (SCFI) recorded a 29% surge in spot rates.
  • NCFI recorded a 26% jump for US west coast rates and 17% for rates to the east coast.
  • THE Alliance has reinserted two blanked sailings to the west coast.
  • The demand and rate spike on the transpacific comes after US imports plunged some 17%.
  • CMA CGM...

https://mfame.guru/carriers-unblank-sailings-due-to-spike-in-container-spot-rates/

Asia-US west coast spot rates up 100% on a year ago as demand grows

A further massive spike in transpacific container spot rates this week may encourage ocean carriers servicing the route to ‘unblank’ more sailings to meet market demand.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a 29% surge in spot rates from Asia to the US west coast, to $2,755 per 40ft, which is almost double the market rate of a year ago.
And for US east coast ports, the SCFI component jumped 19%, …

The post Asia-US west coast spot rates up 100% on a year ago as demand grows

https://theloadstar.com/asia-us-west-coast-spot-rates-up-100-on-a-year-ago-as-demand-grows/

Lack of cargo sees carriers forced into last-minute voyage cancellations

Despite ocean carriers discounting container spot rates from Asia this week, there was still insufficient cargo to sustain the already reduced alliance service networks.
Maersk and MSC were obliged to cancel this week’s 2M AE7/Swan loop from China to North Europe at the last minute after they were unable to secure enough cargo.
The 19,472 teu MSC Rifaiya commenced its loading programme in Ningbo, China on Monday, but rather than despatch the …

The post Lack of cargo sees carriers forced into...

https://theloadstar.com/lack-of-cargo-sees-carriers-forced-into-last-minute-voyage-cancellations/

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