Weekly Ocean Operations Update: Asia to Europe, US and Australia 31/05/24

General overview: The market remains fully booked, with all June sailings completely full. Capacity has been reduced by 15-20% due to blank sailings. CMA has added an extra loader but this is primarily clearing backlog. HPL – CGX service (ex Yantian to AN/RTM/West Africa) will resume in mid-June; the vessel size is 3,500-4,000 TEUs. Again, this is focused on clearing backlog.

FAK space is sold out and CMA and OOCL have increased spot rates. Rates for the second half of June are expected to increase further. More carriers have now reduced NAC / BCO space, shifting focus to FAK / premium space, and some carriers are releasing space later (for example, MSC 7-10 days before ETD).

The equipment situation changes daily and remains very challenging; please see below for the current equipment status.

Overview by trade lane

FEWB summary:

Rate and capacity update as of May 31, 2024:

Oceania summary:

Rate and capacity update as of May 31, 2024:

Transpacific summary:

Rate and capacity update as of May 31, 2024:

Equipment update by carrier

Correct at time of publication on May 31, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: EU

• EU blank sailing ex Far East
• EU blank sailing ex ISC
• Hapag-Lloyd CGX service is back, now connecting China, West Africa, and Germany. Port rotation : Yantian (CN) -> Singapore (SG) -> Tema (GH) -> Wilhelmshaven (DE) -> Antwerp, BE. (Source: Hapag-Lloyd)
• Ellerman City Liners will offer in June and July two sailings from China to Europe. The carrier will deploy two ships that are scheduled to load in Ningbo and Dachan Bay for Casablanca and Tilbury. (Source:Alphaliner)

Market intel: Oceania

• Australia blank sailing
• Port of Melbourne announced trade figures for April, which revealed 11.7% Y-O-Y increase of total 270,000 Teu
  • Full Container import volumes (Excluding Bass Strait) showed 7.9% increase compare with 2023 same time.
  • Full Container export volumes (Excluding Bass Strait) showed 8.8% growth compare with 2023 same time. (Source: Container News)

Market intel: USA

• TP blank sailing
• US says tariff increase on Chinese EVs, batteries and chips effective from 01 Aug 2024 (Source: Reuters)