Transpacific

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 …

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

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/

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/

Maersk first to cancel GRI and cut transpacific rates as China wades in

Maersk has reportedly reduced its planned mid-September transpacific GRIs, thought to be due to China’s move to step in to reduce freight rates on the trade.
Last week, Zest Shipping Media reported that Chinese authorities planned to interfere in pricing and capacity management on the transpacific as rates soared to record highs.
Dennis Zhou, founder of Zest, noted this morning that Maersk had quoted $4,200 for US west coast, and $5,000 for …

The post Maersk first to cancel GRI and cut...

https://theloadstar.com/maersk-first-to-cancel-gri-and-cut-transpacific-rates-as-china-wades-in/

China set to step in and hold down rates, with ocean freight ‘a global mess’

Chinese authorities are set to interfere in both pricing and capacity management on the transpacific, as rates soared to record highs again this week.
China’s ministry of communications today discussed refusing to allow carriers to increase the spot rate from China to the US, and that their suspended sailings must be reinstated from week 42.
The move was reported by Zest Shipping Media, but not confirmed by the government. Zest noted that …

The post China set to step in and hold down rates, with...

https://theloadstar.com/china-set-to-step-in-and-hold-down-rates-with-ocean-freight-a-global-mess/

Carriers prioritise transpacific boxes over Europe as spot rates hit new heights

The acute equipment shortage in Asia means containers are being prioritised for higher-paying transpacific spot cargo.
The China to US components of today’s Shanghai Containerized Freight Index (SCFI) recorded another big jump in spot rates, after the implementation by carriers of a sixth consecutive successful GRI on 1 September.
Spot rates to the west coast jumped a further $119 on the week, to a record $3,758 per 40ft, a staggering 129% higher …

The post Carriers prioritise transpacific boxes...

https://theloadstar.com/carriers-prioritise-transpacific-boxes-over-europe-as-spot-rates-hit-new-heights/

Calm before the storm: shippers brace for hefty Asia-Europe rate hikes

Asia-North Europe shippers are bracing for a wave of FAK rate increases and peak season surcharges this month as carriers look to capitalise on several weeks of fully booked ships.
The North Europe component of today’s Shanghai Containerized Freight Index (SCFI) edged up slightly, by $9 to $910 per teu, in what shippers fear is the ‘calm before the storm’.
“The market remains strong on the Asia-Europe route,” Martin Holst-Mikkelsen, head of …

The post Calm before the storm: shippers brace for...

https://theloadstar.com/calm-before-the-storm-shippers-brace-for-hefty-asia-europe-rate-hikes/

Transpac rates at new heights, but reviving blank sailings could muddy the water

Transpacific container spot rates to the US west coast have powered over the $3,000 mark to hit a record level of $3,167 per 40ft.
The US west coast component of today’s Shanghai Containerized Freight Index (SCFI) soared 17% on the back of 1 August GRIs and is now 100% higher than a year ago.
The spot rate surge represents the highest SCFI reading for the west coast in the decade-long history of …

The post Transpac rates at new heights, but reviving blank sailings could muddy the water appeared...

https://theloadstar.com/transpac-rates-at-new-heights-but-reviving-blank-sailings-could-muddy-the-water/

The Ocean Alliance’s Capacity Share on the Transpacific Increases To 39%

  • The Ocean Alliance has overtaken the 2M alliance, adding the market share lead on the Asia-Europe tradelane to its already dominant position on the transpacific.
  • The vessel-sharing alliance of CMA CGM, Cosco (including OOCL) and Evergreen did not follow its rival 2M and THE alliances in temporarily suspending an Asia-North Europe loop through to October.
  • It has lifted its capacity share to 39% from 37% a year ago, according to Alphaliner data.
  • Market share in terms of capacity offered by 2M...

https://mfame.guru/the-ocean-alliances-capacity-share-on-the-transpacific-increases-to-39/

Shippers say service is worse, but the costs are higher

Unhappy shippers say that they are unclear what to expect from shipping lines since the Coronavirus pandemic hit the global economy as services are cancelled without consultation or understanding of the situation for shippers.

Carriers are continuing to cut services with approximately 20% of capacity on the main east/west trades having been cancelled in the third quarter, even as demand is said to be returning in some markets.

Beneficial cargo owners (BCO) are, however, unaware of when...

https://container-news.com/shippers-say-service-is-worse-but-the-costs-are-higher/

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