Weekly Ocean Operations Update: Asia to Europe, US and Australia 28/06/24

General overview: The market remains strong with significant growth in trade demand, up by approximately 8% compared to the previous year, as reported by Alphaliner.

We recently shared information about new services from HPL (CGX) and MSC (Britannia) starting in July, and CMA is now also set to launch a new bi-weekly peak service, potentially calling at Le Havre and Fos, although final confirmation is pending. Despite the introduction of new services, overall capacity remains reduced by approximately 20% due to numerous 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.

Overview by trade lane

FEWB summary:

Rate and capacity update as of June 28, 2024:

Oceania summary:

Rate and capacity update as of June 28, 2024:

Transpacific summary:

Rate and capacity update as of June 28, 2024:

Equipment update by carrier

Correct at time of publication on June 28, 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
• CMA CGM launches the French Peak Service,7 additional sailings with 7,000-TEU vessels from June 30 to early September, departing from Asia to Northern Europe & the Mediterranean. (Source: CMA CGM)
• MSC combines Swan and Sentosa to become a North Europe-Asia-USWC pendulum service. (Source: eeSea）

Market intel: Oceania

• Australia blank sailing – click here

The monthly Consumer Price Index (CPI) indicator in Australia increased by 4.0% in May 2024, up from 3.6% in Apr and above forecasts of 3.8%, the latest reading pointed to the highest since last November

Due mainly to a faster rise in (% May vs % April)

• Transport price: 4.9% vs 4.2% 
• Fuel and housing price: 5.2% vs 4.9%
• Electricity price: 6.5% vs 4.2%
• Clothing & footwear price: 2.8% vs 2.4%
• Alcohol & tobacco price: 6.7% vs 6.5%

(Source:  Australia Bureau of Statistics)

Market intel: USA

• TP blank sailing – click here
• Biggest U.S. ports union suspends labor talks, with East Coast, Gulf Coast and strike risk rising. The reason behind this is due to Maersk settling up the terminal automation. It covers about 45,000 dockworkers at facilities including six of the 10 busiest US ports, contract agreement expires Sept. 30. Foresee it will impact to the terminal operation for USEC/GULF port in OCT 2024. (Source: CNBC)