Weekly Ocean Operations Update: Asia to Europe, US and Australia 19/07/24

General overview: The market remains strong in July, with all sailings fully booked. There are particularly strong volumes from Central and North China. Capacity reduction is still around 18-20%, with August capacity reduction currently around 17-18%. Additional capacity injections are expected, including extra loaders from CMA and Cosco in Week 33.

Carriers continue to manage capacity amidst increasing demand from BCOs. Freight rates are anticipated to remain high, with slight increases likely to persist in the near term.

The situation in the Indian Subcontinent (ISC) and Bangladesh (BD) regions appears to be worsening, with port congestion and equipment shortages.

You will be aware that as of July 19 2024, there are currently a high number of IT outages occurring across the globe, impacting airlines, ports and many large organisations. We are continuing to monitor the situation closely but it is as yet unclear when the issues will be resolved,

Overview by trade lane

FEWB summary:

Rate and capacity update as of July 19, 2024:

Oceania summary:

Rate and capacity update as of July 19, 2024:

Transpacific summary:

Rate and capacity update as of July 19, 2024:

Equipment update by carrier

Correct at time of publication on July 19, 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
• Bad weather conditions near the Cape of Good Hope have halted container traffic recently, according to an analysis by LSEG Shipping Research (Source: Container News)

Market intel: Oceania

• Australia blank sailing – click here

Terminal and port updates

(Source: ANL)

Market intel: USA

• TP blank sailing – click here
• CMA CGM and Hapag-Lloyd will terminate their jointly operated India-US East Coast Indamex and Indamex 2 services from August 2024 and replace them with separate services that will be operated independently by the two carriers. Hapag-Lloyd has announced a new TPI (Indamex) service that will call at Port Qasim, Nhava Sheva, Mundra, New York, Norfolk, Savannah, Charleston, Port Qasim from 8 August 2024 with the 9,274 teu TORRENTE. The service will turn in 11 weeks and will be operated independently. (Source: CMA/HPG)
• CMA CGM has restarted the Great Lakes Express (GLX) that will serve as an extra loader service connecting China and South Korea (with irregular schedul calls at Yantian, Ningbo, Shanghai, Qingdao and Busan) to Seattle or Vancouver. (Source: CMA)