SCFI

Space on box ships out of Asia now going, going, gone – to the highest bidder

Major forwarders are engaged in fierce bidding wars in China, in order to secure equipment and space to North Europe.
And several carriers are reported to have opened first- and second-round tenders with the highest bidders for guaranteed shipment this month.
According to Chinese forwarder contacts, carriers are inviting offers for available slots on end-January sailings from Shanghai, Ningbo, Qingdao and Yantian, with all-in bids below $16,000 per 40ft H/C for the …

The post Space on box ships...

https://theloadstar.com/space-on-box-ships-out-of-asia-now-going-going-gone-to-the-highest-bidder/

SCFI Recorded A Staggering 190% Gain On The Year 2020

The final Shanghai Containerized Freight Index (SCFI) for 2020, published on 31 December, recorded a staggering 190% gain on the year, says an article published in the loadstar.

Major tradelanes

The biggest spot rate increase on its major tradelanes was recorded between Asia and North Europe, which saw the SCFI component leap by almost 300% to finish the year at $4,091 per teu.

Asia to Mediterranean rates also saw a big spike, 266%, to take the SCFI element to $4,286 per teu.

Shipment

However,...

https://mfame.guru/scfi-recorded-a-staggering-190-gain-on-the-year-2020/

Maritime Trade Hit By Carriers Breaching Contracts, Charging Higher Rates

As Asia-Europe container spot rates continue to skyrocket, shippers and freight forwarders are accusing carriers of breaching short- and long-term contracts to “charge whatever they want”, reports the LoadStar.

Carriers Behaviour Damaging Trade?

In a joint letter to the Competition Directorate of the European Commission (EC), the European Freight Forwarders Association (CLECAT) and European Shippers’ Council (ESC) have protested about the “damage” the carriers’ behaviour is causing to trade...

https://mfame.guru/maritime-trade-hit-by-carriers-breaching-contracts-charging-higher-rates/

No happy new year for shippers as rates on major tradelanes stay sky high

The final Shanghai Containerized Freight Index (SCFI) for 2020, published on 31 December, recorded a staggering 190% gain on the year.
The biggest spot rate increase on its major tradelanes was recorded between Asia and North Europe, which saw the SCFI component leap by almost 300% to finish the year at $4,091 per teu.
Asia to Mediterranean rates also saw a big spike, 266%, to take the SCFI element to $4,286 per …

The post No happy new year for shippers as rates on major tradelanes stay sky high

https://theloadstar.com/no-happy-new-year-for-shippers-as-rates-on-major-tradelanes-stay-sky-high/

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/

Carriers with ‘money to burn’ will pay ‘whatever it takes’ to secure chartered tonnage

The major ocean carriers, expected to report huge profits for Q4, have “money to burn” and aim to outbid their smaller, less-profitable rivals, to secure the ships they target.
They are expecting the current liner bull market to continue well into the second quarter of next year, based on their recent enquiries into the charter market.
“Not only are the liners prepared to fix long-term at whatever-it-takes-rates on any available tonnage, but we …

The post Carriers with ‘money to burn’ will pay...

https://theloadstar.com/carriers-with-money-to-burn-will-pay-whatever-it-takes-to-secure-chartered-tonnage/

Container freight rates from Asia surge to new highs – ‘it’s gone mad’

Container freight rates from Asia continued to surge this week, reaching highs far in excess of long-term sustainable levels.
Today’s Shanghai Containerized Freight Index (SCFI) cumulative reading hit a new record of 2,311.71, representing a 162% increase on the same week last year.
After initially lagging behind the massive rate gains seen on the transpacific, spot rates to North Europe now lead the rate race in terms of percentage increase, 230% higher …

The post Container freight rates from...

https://theloadstar.com/container-freight-rates-from-asia-surge-to-new-highs-its-gone-mad/

Spot rates to Europe continue to provide seasonal bonuses for carriers

Container spot rates from Asia to North Europe are now 130% higher than at the start of the year, after a further spike this week.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a 13.5% increase in its North Europe spot rate, to $2,374 per teu – however, in practice, market rates are considerably higher.
The SCFI Asia-Mediterranean component increased by $165, to $2,384 per teu.
One Shanghai-based NVOCC told The Loadstar several carriers were …

The post Spot rates to Europe...

https://theloadstar.com/spot-rates-to-europe-continue-to-provide-seasonal-bonuses-for-carriers/

More pain for Asia-Europe shippers as rate hikes and surcharges pile up

Container spot rates on Asia to North Europe leapt 27% this week to breach $2,000 per teu, with carriers planning further FAK rate hikes for December.
The Shanghai Containerized Freight Index (SCFI) recorded an increase of $447 in its North Europe component, to $2,091 per teu, which is 170% higher than a year ago.
The SCFI rate to Mediterranean ports also saw a big spike, 23%, to $2,219 per teu, representing a …

The post More pain for Asia-Europe shippers as rate hikes and surcharges pile up...

https://theloadstar.com/more-pain-for-asia-europe-shippers-as-rate-hikes-and-surcharges-pile-up/

CMA CGM makes bold pitch for premium business on booming transpacific

Transpacific ocean carriers are ramping up their premium services to take full advantage of the continued demand spike on the route.
Recently during an earnings call, niche US flag carrier Matson chairman and CEO Matt Cox gave investors “a sense of the demand right now”.
He said: “On our CLX and CLX+ services each week we are turning away more cargo than we are carrying.”
CMA CGM announced today that, from the end …

The post CMA CGM makes bold pitch for premium business on booming transpacific...

https://theloadstar.com/cma-cgm-makes-bold-pitch-for-premium-business-on-booming-transpacific/

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