Rates: the eternal tango

Against the odds: Exuberant Maersk, CMA CGM, Hapag exploit tax loopholes

Port congestion issues, equipment shortages and a very harmful lack of capacity for the trade are going to vanish later this year the bulls insist? Go away!
There is yet one more reason, detailed herein, why AP Møller-Mærsk (APMM), CMA CGM, Hapag-Lloyd and friends will keep capacity at the bare minimum for longer, while talk of adding tonnage where the shippers need it most short term is a pure joke (barring …

The post Against the odds: Exuberant Maersk, CMA CGM, Hapag exploit tax loopholes...

https://theloadstar.com/against-the-odds-exuberant-maersk-cma-cgm-hapag-exploit-tax-loopholes/

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/

More modal shift as shippers and forwarders seek alternatives to costly airfreight

As the prospect of a return to pre-Covid rate levels recedes ever further, relentlessly high airfreight pricing is prompting more and more shippers to look for alternatives.
Forwarders are being tasked to understand their supply chains better and come up with creative solutions.
But they and shippers see no sign of pricing descending from the stratosphere any time soon.
“It will be some time before we return to pre-Covid rate levels,” said Jeff …

The post More modal shift as shippers and...

https://theloadstar.com/more-modal-shift-as-shippers-and-forwarders-seek-alternatives-to-costly-airfreight/

Shippers brace for fresh price hikes in the ‘new normal’ for ocean freight

Shippers are bracing themselves for a fresh onslaught of freight rate hikes and peak season surcharges (PSS) from April, as ocean carriers reinforce their supply chain dominance across tradelanes.
Carriers have begun to focus on the traditionally low-revenue backhaul routes in order to restore rates to levels that will incentivise them to make equipment available for cargo shipments, rather than using the default option of deadheading empty containers back to Asia.
For …

The post Shippers brace...

https://theloadstar.com/shippers-brace-for-new-price-hikes-in-the-new-normal-for-ocean-freight/

Rates hold steady despite softer demand, with carriers firm on contract prices

Container spot rates from Asia to Europe remained virtually unchanged this week, despite softer demand, assisting carriers to lock-in shippers with huge contract rate hikes.
On the transpacific, there was no let up in demand and BCOs are struggling to secure new deals with carriers.
According to the Asia to North Europe component of the Freightos Baltic Index (FBX), the rate for a 40ft edged down slightly, to $7,947, from $8,004 a …

The post Rates hold steady despite softer demand, with carriers...

https://theloadstar.com/rates-hold-steady-despite-softer-demand-with-carriers-firm-on-contract-prices/

Carriers eye higher contract rates to hedge against spot market volatility

Container spot rates from Asia to Europe and Asia to the US eased back further this week from their record highs.
Nevertheless they are expected to stay at very elevated levels for some time.
According to today’s reading of the Freightos Baltic Index (FBX), the rate for a 40ft from Asia to North Europe declined 3.3% on the week, to $8,037, but for Mediterranean ports, the rate was off by just $37, …

The post Carriers eye higher contract rates to hedge against spot market volatility appeared...

https://theloadstar.com/ocean-carriers-eye-higher-contract-rates-to-insulate-against-spot-market-volatility/

Aggressive carriers ‘biting the hand that feeds them’ as importers shun China

There are growing signs that the sky-high freight prices on the Asia-Europe trades may be beginning to structurally undermine it, as European importers begin to look for alternatives to sourcing from China.
Keith Gaskin, group commercial director of Seko Logistics in the UK, said: “I am seeing importers in the UK and Europe actively telling their merchandisers to look for near-shoring solutions, because the freight rates from Asia have reached such …

The post Aggressive carriers ‘biting the hand...

https://theloadstar.com/aggressive-carriers-biting-the-hand-that-feeds-them-as-importers-shun-china/

More blank sailings ‘a harbinger’ of soaring rates on the transatlantic

Container spot rates on the transatlantic headhaul North Europe to North America east coast tradelane have recovered to pre-pandemic levels, but have so far not seen the hyper-inflation impacting other routes.
According to Friday’s Freightos Baltic Index (FBX) reading, the price for a 40ft container on the route stood at $2,026, which is on par with the rate in April last year and compares with a low of $1,622 in September.
But …

The post More blank sailings ‘a harbinger’ of soaring rates on the...

https://theloadstar.com/more-blank-sailings-a-harbinger-of-soaring-rates-on-the-transatlantic/

Buoyant ocean carriers set to roll out peak season surcharges months early

Asia-North Europe container spot rates eased back slightly this week, as carriers ‘hoovered up’ stockpiled cargo accumulated before Chinese New Year.
However, rates from Asia to the US increased again.
Today’s reading of the Freightos Baltic Index (FBX) for a 40ft from Asia to North Europe was $8,308, compared with $8,430 a week ago, but for west Mediterranean ports, the FBX spot rate edged up $74, to $7,967 per 40ft.
The modest softening …

The post Buoyant ocean carriers set to roll out peak...

https://theloadstar.com/buoyant-ocean-carriers-set-to-roll-out-peak-season-surcharges-months-early/

US import spike set to run into summer as west coast ports struggle

Container freight and charter markets are continuing to boom post-Chinese New Year, and analysts expect favourable conditions for carriers and shipowners to last at least into the second half.
“Unseasonal strength in container volumes and port congestion have buoyed freight markets, while in the time-charter markets, demand for vessels has outstripped wider growth in container trade, conditions that are expected to endure at least into H2 21,” says the latest sector …

The post US import spike...

https://theloadstar.com/us-import-spike-set-to-run-into-summer-as-west-coast-ports-struggle-to-cope/

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