Weekly Ocean Operations Update: Asia to Europe, US and Australia - 30/08/24

General overview: 

The market is noticeably softer compared to the last few months, however rates still remain much higher than NAC deals. MSC confirms that the recently announced Britannia service will be blanked.

In India, the indefinite strike planned for August 28 for unionised ports did not go ahead and a revised wage structure has now been agreed.

In Bangladesh, the weather has eased and the flood situation in Eastern Districts continues to improve. The port is operating and productivity is increasing. Transport movement from Dhaka to Chittagong is improving also, but roads are damaged in some areas, meaning that truck transport is taking longer than usual.

Overview by trade lane

FEWB summary:

Rate and capacity update as of August 30, 2024:

Oceania summary:

Rate and capacity update as of August 30, 2024:

Transpacific summary:

Rate and capacity update as of August 30, 2024:

Equipment update by carrier

Correct at time of publication on August 30, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: EU

• Hapag-Lloyd hails delivery of another LNG dual-fuel 23,600 TEU giant. (Source: eeSea)
• 2M-partners add Port Said to Far East-Med loop. The change concerns the MSC-operated ‘Jade’ loop which Maersk brands as ‘AE11’. (Source: Alphaliner)

Market intel: Oceania

Terminal and port updates (source: ANL):

Market intel: USA

TPEB rate update (Sources: TSL/Hede)

• A rates are getting more competitive on the Asia-US West Coast tradelane as newcomer transpacific carriers offer lower rates to gain market share. Taiwanese intra-Asia carrier TS Lines joined SeaLead Shipping Asia-US West Coast service. Last week, TS launched a standalone Asia-USWC service, the AWC2, connecting Nansha, Shekou, Kaohsiung, Xiamen and Long Beach.
• Hede (Hong Kong) International Shipping, this month added capacity to its China-USWC service, having chartered two 2,700 teu ships, Pona and Posen. Hede, a Chinese feeder operator owned by Tangshan Port Group, entered the transpacific trade in March, with Shanghai-Los Angeles services.