Weekly Ocean Operations Update: Asia to Europe, US and Australia 09/08/24

General overview: While extra capacity has been added in August, no extra loaders have been confirmed for September. Overall, ship utilisation remains strong, bolstered by bookings from Beneficial Cargo Owners (BCOs). However, there are expectations of rate pressure as carriers like ONE and HMM compete for cargoes on extra loaders.

There is some concern regarding extra loaders, which have limited calling ports and create unpredictability in vessel schedules, often resulting in delays. Vessel sizes are also inconsistent, as carriers phase vessels from other trades, such as Oceania, Latam and Africa, many of which are smaller.

Further delays are anticipated due to adverse weather conditions in the Cape of Good Hope. While some carriers are reporting delays of up to 8 days, we are currently only seeing 2-day delays. We are monitoring the situation closely.

Issues persist in ISC / BD regions, with continued problems with delays and equipment shortages. This is resulting in higher FAK rates.

An explosion on a ship was reported at Ningbo Phase 3 terminal this morning, which is now closed; no Ligentia cargo was on the vessel. We are monitoring the situation closely to understand any impact on overall port operations. However, for now we can say our main routes to Europe do not call at this particular terminal.

Overview by trade lane

FEWB summary:

Rate and capacity update as of August 9, 2024:

Oceania summary:

Rate and capacity update as of August 9, 2024:

Transpacific summary:

Rate and capacity update as of August 9, 2024:

Equipment update by carrier

Correct at time of publication on August 9, 2024:

Click here to download equipment spreadsheet

Asis port updates

Market intel: EU

• EU blank sailing ex Far East – click here
• EU blank sailing ex ISC – click here
• MSC Improves its Asia North Europe Network set to commence from week 32- Griffin, Lion, Britannia and Condor services. (Source: MSC) 
• MSC achieves highest ever carrier market share.  (Source: Alphaliner)

Market intel: Oceania

• Australia blank sailing – click here

Terminal and port updates

(Source: ANL)

Market intel: USA

• TP rank sailing – click here
• Port Strike for US East coast 
  Ports like New York/New Jersey and Houston are preparing for a potential strike starting on October 1 if the International Longshoremen’s Association (ILA) does not resume negotiations. The union has also announced that its Wage Scale Committee will meet on September 4 and 5 to finalize the demands the ILA will present to the USMX when master contract negotiations eventually begin. 
  This situation could significantly impact services at U.S. East Coast and Gulf ports for ships arriving after October 1. We can anticipate reduced capacity, blank sailings, and a rush to move cargo before the deadline. 
  The lead time for imports to the U.S. East Coast remains over two months, emphasising the urgency for shippers to increase import stocks before a possible strike. The last opportunity for U.S. importers to stock up before a potential East Coast port strike will be around mid-August sailings. (Source: Maritime Executive)