Weekly Ocean Operations Update: Asia to Europe, US and Australia 10/05/24

General overview: In Week 20, we are anticipating significant vessel delays and this has resulted in more capacity being cut throughout Week 20 / 21. Carriers such as MSC, EMC, and CMA are reporting an upsurge in bookings. Following the Labor Day holiday, the roll pool is increasing, with growing volumes of cargo competing for space on subsequent services. Carriers are also continuing to enforce tight restrictions on NAC space.

Blank sailings have increased, with around a 10% reduction expected in Week 21 / 22 and a more substantial 16-20% reduction in Weeks 23-26. These figures could potentially rise further due to anticipated vessel delays.

The market is continuing to face equipment shortages at various ports of loading, with this being particularly evident in Central and North China. The shortage has been exacerbated by the surge in volume and delays in vessels returning to Asia from Europe.

Overview by trade lane

FEWB summary:

Rate and capacity update as of May 10, 2024:

Oceania summary:

Rate and capacity update as of May 10, 2024:

Transpacific summary:

Rate and capacity update as of May 10, 2024:

Asia port updates

Shanghai:

• Vessel waiting time has increased to 3-13 days due to port congestion; almost all carriers are experiencing schedule delays, especially HPL, MSC and COSCO
• Carriers in general are experiencing a shortage of equipment

Yantian:

• Vessel waiting time is 0-1 day
• For MSK and EMC, there is a shortage of 40’HC, while HPL has a shortage of 20’GP
• The weather has been somewhat unstable, with thunderstorms and strong winds
• Space is tight for all trade lanes; carriers are pushing more FAK and enforcing strict rules on NAC / spot

Ningbo:

• Vessel waiting time is 2-4 days
• Apart from HPL and MSC, all carriers are lacking HQ equipment; CMA is currently experiencing a shortage of all types of equipment

Tianjin:

• Vessel waiting time is 2-3 days
• Most carriers are experiencing a shortage of 20’GP, HPL has a shortage of 40’GP and MSK has a shortage of 40’HC

Qingdao

• Vessel waiting time is 2-3 days
• CMA and COSCO are experiencing a shortage of 40’HC

Xiamen

• Vessel waiting time is 1-2 days
• Equipment is sufficient
• Space is relatively tight

Vietnam

• Vessel waiting time is 0-3 days
• Port operations are currently normal

Market intel: EU

• GSI delivers the MSC QUITTERIE (16,616 teu). MSC has sent it to the Far East - Europe service ‘Swan’. The ‘Swan’ is a standalone service of MSC, operated outside the scope of 2M.  (Source: Alphaliner)
• Maersk raises surcharges as Red Sea risk expands and costs mount. (Source: eeSea)

Market intel: Oceania

Neptune Pacific Direct Line (NPDL) reshuffles Australia – New Zealand – Pacific Islands offering

NPLD will suspend existing ‘ANZPAC’ service by end of May, 2024 and will create four separate loops: the Australia – Pacific Islands ‘AUSPAC’ service, the New Zealand-Pacific Islands ‘NZPAC’ service and two Trans-Tasman loops. (Source: Alphaliner)

Market intel: USA

CMA announced Asia to Mexico Service – M2X (Mexico Express)

Route : Tianjin -> Qingdao -> Busan -> Ensenada -> Manzanillo -> Lazaro Cardenas -> Yokohama -> Busan -> Tianjin

Vessel size : 8 x 4,250 - 5,000 Teu class sailings

CMA is the 3rd carrier to announce new service between Asia to Mexico, just few days after COSCO/OOCL and MSC announced their services. (Source: Alphaliner)