trans-Atlantic

Trans-Atlantic shipping suffers ‘meltdown’ as rates hit new low

chart of trans-Atlantic rates

The bigger they come, the harder they fall. The shipping boom in the trans-Atlantic market was one of the world’s biggest, and spot rates in this trade have not only plummeted from COVID-era highs, they’ve sunk below pre-pandemic levels.

“It is probably the deepest and fastest decline I have seen in my history [in the business],” said Thorsten Meincke, head of ocean and air freight at German freight forwarder DB Schenker, during an online panel discussion Tuesday.

According to Peter Sand, chief...

https://www.freightwaves.com/news/trans-atlantic-shipping-suffers-major-meltdown-as-spot-rates-crash

Good times still rollin’ for shipping lines in trans-Atlantic trade

chart showing trans-Atlantic container shipping rates

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The rise of East Coast ports has been largely credited to the fall of West Coast ports — to shippers...

https://www.freightwaves.com/news/good-times-still-rollin-for-shipping-lines-in-trans-atlantic-trade

Trans-Pacific rates still sinking. Trans-Atlantic rates still peaking

a photo of a container shipping port in Bremerhaven

It’s a tale of two oceans: The price to ship containers of cargo from Asia to the U.S. across the Pacific continues to recede from record levels. In contrast, the price to ship containers across the Atlantic from Europe has risen through 2022 and is still hovering near all-time highs.

Vessel backups remain historically severe off Savannah, Georgia, New York/New Jersey and Houston, whereas conditions have dramatically improved off Los Angeles/Long Beach. Reduced congestion is a negative for spot...

https://www.freightwaves.com/news/trans-pacific-rates-still-sinking-trans-atlantic-rates-still-peaking

Container rates rocket even higher — and there’s no end in sight

Containers

Another week, another record for container shipping spot rates. And alarmingly for shippers, upward rate momentum is accelerating.

Different indexes come up with different numbers, and the premium charges on top of spot rates are now so high that index rates no longer capture the true cost of ocean shipping. However, when various indices all move in the same direction, it does reflect changes in the supply-demand balance.

That balance is tipping more to the detriment of cargo shippers with each...

https://www.freightwaves.com/news/container-rates-rocket-even-higher-and-theres-no-end-in-sight

OOCL Q3 revenue climbs 16.3%

Orient Overseas Container Line (OOCL) posted a 16.3% increase in revenue — a healthy third-quarter recovery from the height of the COVID-19 pandemic.

The Hong Kong-based container carrier reported total Q3 revenue was $1.91 billion. Revenue on trans-Pacific trade was up 18.4% to $825.3 million and 2.4% on the trans-Atlantic to $151.6 million. 

Total volumes were up 9.5% from Q3 2019, driven in large part by a 22.6% jump on the trans-Atlantic trade to 141,584 twenty-foot equivalent units (TEUs)....

https://s29755.pcdn.co/news/oocl-q3-revenue-climbs-163

Trans-Atlantic LCL steady despite COVID-19

ocean freight

Ocean freight consolidators and forwarders have taken comfort in less-than-container-load (LCL) volumes and services in the U.S. trans-Atlantic trades, despite the ongoing economic headwinds caused by the coronavirus pandemic.

In recent months, more American and European shippers have turned to LCL services as a cheaper alternative to air freight and a way to counter ocean carrier service disruptions involving full-container-load (FCL) transport.

“Owing to the higher FCL and airfreight charges,...

https://www.freightwaves.com/news/trans-atlantic-lcl-steady-despite-covid-19

Covid 19 Hit Transatlantic and Transpacific Route Freight Rates

  • Transatlantic and Transpacific shipping rates display a strike contrast to each other in the present Covid 19 situation.
  • On one side, the freight rates for the transpacific reaches new heights with Asian exports, on the other side, the transatlantic trade route with European exports is getting worse.
  • Whereas, freight rates for the two trade routes were vice-versa prior to Covid-19 with transatlantic enjoying a good share of the U.S. imports and transpacific doing poorly.
  • U.S. importers...

https://mfame.guru/covid-19-hit-transatlantic-and-transpacific-route-freight-rates/

Pandemic leads to ‘complete disruption’ of container flows

Juergen Pump, Hamburg Süd’s president for North America, provided a “put yourself in my shoes” scenario for shippers during the Agriculture Transportation Coalition (AgTC) annual meeting this week.

Certainly canceled sailings are a headache for shippers and there have been a lot of them during the coronavirus crisis. But Pump pointed out that a rise in canceled bookings creates pain points for ocean carriers.

“Booking cancellations have increased significantly. Traditionally about 15 to 18% of...

https://s29755.pcdn.co/news/pandemic-leads-to-complete-disruption-of-container-flows

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