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After announcing the end of the 2M alliance Maersk is joining with Hapag-Lloyd to form The Gemini Cooperation, in a move that will shake up the East-West container shipping market. Since announcing the breakup of its 2M Alliance with MSC in
Two weeks after sea freight spot rates from Asia to Europe started to peak and after the scramble for capacity ahead of Lunar New Year subsided, it seems that the US trade lane from Asia may be following suit. Two weeks
With the European Union’s surprise decision to end container shipping lines’ exemption from competition law in April next year, and imposing carbon taxes on them from January, European container shipping may have a challenging 2024. The abolition of the Consortia Block
Carriers have already been announcing additional blanked sailings in the weeks after the Golden Week holiday, suggesting that demand is expected to decrease in the weeks that would typically be in the peak season. The percentage of industry-wide blanked capacity
Sea freight spot rates ex-Asia to both North Europe and the Mediterranean have fallen again, prompting carriers into last-minute cancelled sailings, while they are being hit by a huge spike in fuel costs. Container shipping lines across the three alliances
Carriers have already been announcing additional blanked sailings in the weeks after the Golden Week holiday, suggesting that demand is expected to decrease in the weeks that would typically be in the Asia to Europe peak season. The latest Drewry
Container Trade Statistics (CTS) demand data has been released for June and even though demand measured in TEU Miles is essentially hovering around zero the collapse in demand appears to have halted, and while it may be at a low
While much has been made of the impact of the peak season from Asia on sea freight rates, arguably the line’s capacity management is a bigger driver, with rising rates to the US and attempts to recover revenue from Asia
Average spot rates from Asia to the US West Coast have increased 70% over the last two months, with the lines successfully implementing a series of rate increases, while rates from Asia to Northern Europe spiked last week by 25%,
Rising imports have been driving trans-Pacific spot rates up as the peak season nears, though the lines GRI success looks less likely on North European routes, unless blanked sailings impact is felt quickly. After four months of rising imports from Asia
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Plot No.4-5 Sec. Khia 5,