Weekly Ocean Operations Update: Asia to Europe, US and Australia 17/05/24

General overview: The market remains strong and carriers continue to be increasingly selective about bookings. Some BCOs are seeking additional quotes from carriers to handle expected excess volume in the upcoming months. Carriers have also announced blank sailings for June, leading to a significant capacity reduction of 15-20%, exacerbating week-to-week capacity fluctuations.

In response to these challenges, smaller vessels are being deployed as extra loaders to address backlogs or to replace blank sailings caused by scheduling delays. Equipment stock, particularly in North China, is tight and varies daily based on vessel arrivals and the discharge of empty containers.

Overview by trade lane

FEWB summary:

Rate and capacity update as of May 17, 2024:

Oceania summary:

Rate and capacity update as of May 17, 2024:

Transpacific summary:

Rate and capacity update as of May 17, 2024:

Asia port updates

Shanghai:

• Vessel waiting time is 3-14 days due to port congestion
• Across almost all carriers we are seeing schedule delays
• Almost all carriers are lacking empties, especially CMA / ANL

Yantian

• Vessel waiting time is 0-1 day
• MSK / EMC have a shortage of 40’HC
• HPL has a shortage of 20’GP
• Weather has been unstable with thunderstorms and strong winds

Ningbo

• Vessel waiting time is 2-4 days
• COSCO has a shortage of 40’HQ
• CMA / EMC / HMM are lacking all types of equipment
• HPL has a shortage of 40’GP
• MSC has a shortage of HQ

Tianjin

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

Qingdao

• Vessel waiting time is 2-7 days
• COSCO / OOCL have a shortage of 40’HC
• CMA / ANL / CNC have a shortage of 20’ / 40’

Xiamen

• Vessel waiting time is 1-2 days
• Equipment availability is sufficient
• Capacity is tight

Vietnam

• Vessel waiting time is 0-3 days
• Port operations are normal
• Equipment availability is sufficient
• Capacity is sufficient

Market intel: EU

• FEWB blank sailings
• Asia-Europe mega-alliance loops still 10% short of capacity.  (Source: Alphaliner)
• CMA CGM re-routes Far East-Med ‘BEX2’ loop via Suez (Source: Alphaliner)
• Hapag-Lloyd has taken delivery this past weekend of the 23,664 teu SINGAPORE EXPRESS, the fifth of twelve LNG-powered ‘megamax’ vessels, it will join the Asia - North Europe loop ‘FE3’, a service operated under the joint THEA. (Source: Alphaliner)

Market intel: Oceania

• Australia blank sailings

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

NPLD will later this month also suspend its fortnightly “Fiji Express” service and will replaced by “NZPAC” service to cover New Zealand and Fiji 

• NZPAC service
  • Vessel Deployed : 3 X 1,700 teu
  • Port Rotation : Tauranga – Auckland – Suva – Lautoka – Apia – Pago (fortnightly) – Nuku alofa –(fortnightly) – Tauranga
  • Pago and Nuku alofa called on alternate sailings

(Source: Alphaliner)

Market intel: USA

• TPEB blank sailings
• Potential Canadian Rail Strike may possibly happen from the 22 May 2024 (unless a deal has been reached before this date)
• Carrier are switching calling Tacoma instead of Vancouver for IPI cargo.
• ONE announced will change discharging ports from VAN to PRR to reduce the cargo dwell time and to ensure IPI cargo to move more smoothly. (Source: ONE)