General overview: The market continues to be strong with a number of carriers announcing premium rates. We shared information about new services from HPL (CGX) and MSC (Britannia) starting in July, however even with these new services in place, the capacity is still reduced by 20% with a lot of blank sailings.
The equipment situation continues to be tight. 10,000 new containers were released by CMA at the end of June. MSC/ Cosco remain in the most healthy position for equipment.
The market shows no signs of weakening at this stage and we are monitoring capacity very closely.
Overview by trade lane
FEWB summary:
Rate and capacity update as of June 21, 2024:
Oceania summary:
Rate and capacity update as of June 21, 2024:
Transpacific summary:
Rate and capacity update as of June 21, 2024:
Equipment update by carrier
Correct at time of publication on June 21, 2024:
Click here to download equipment spreadsheet
Asia port updates
Market intel: EU
- EU blank sailing ex Far East – click here
- EU blank sailing ex ISC – click here
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HPL IOS has a new service rotation from mid Jun:
Jebel Ali, AE -> Karachi, PK -> Nhava Sheva, IN -> Mundra, IN -> Tanger, MA -> Rotterdam, NL -> Hamburg, DE -> Antwerp, BE -> London Gateway, GB -> Tanger,MA -> Jebel Ali, AE (Source: Hapag Lloyd) -
Two More OOCL 24,188 TEU Mega Vessels Start Operation. The two vessels are serving OOCL’s Asia-Europe service LL1. The port rotation is Qingdao / Shanghai / Ningbo / Xiamen / Yantian / Singapore / Cape of Good Hope / Felixstowe / Zeebrugge / Gdansk / Wilhelmshaven / Cape of Good Hope / Singapore / Yantian / Qingdao. (Source: eeSea)
Market intel: Oceania
- Australia blank sailing – click here
- Terminal and port update:
Market intel: USA
- TP blank sailing – click here
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US West Coast Ports: Ports like Los Angeles/Long Beach, Oakland, and Seattle/Tacoma are likely to experience increased congestion due to higher import volumes. Extended gate hours and additional labor shifts may be implemented to manage the flow.
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Canadian Ports: Vancouver and Prince Rupert will also see higher activity. Efforts to streamline operations and enhance efficiency are crucial to minimizing delays. (Sources: Port Authority Reports, MarineTraffic)
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New Peak Season service for TPEB , Total capacity increased avg 28-30K teus weekly on regular service.
from wk 23, JUN-2024, WHL implemented the new svc AA1 to USWC, weekly capacity 3000-4000teus, total 5 vessels
from wk 24, JUN-2024, Cosco implemented the new svc CPV to PNW, weekly capacity 4250 teus, total 6 vessels
from wk 26, JUN-2024, Cosco implemented the new svc SEA3 USWC, weekly capacity 8000-10000 teus, total 6 vessels
from wk 29, JULY-2024, MSC implemented the new svc Mustang USWC, weekly capacity 8000-16000 teus, total 6 vessels
(Sources: WHL/MSC/Cosco)
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