Weekly Ocean Operations Update: Asia to Europe, US and Australia 27/09/24

General overview: In October, on the FEWB trade lane, it’s expected that shipping capacity will be reduced. This could lead to space issues during the second half of the month. For North Europe, the typical weekly capacity is around 330,000 TEUs, but it is projected to see an average reduction of 26%, with a more substantial drop anticipated in weeks 40 and 41. Similarly, for the Mediterranean, the usual weekly capacity of 189,000 TEUs will see an average reduction of 22%, with a sharper decrease also expected in weeks 40 and 41.

Please note, Golden Week will take place 1-7 Oct.

The FAK/SCFI rates are continuing to decline. In the fourth quarter, bunker costs are expected to drop slightly, following a decline in oil prices since June.

In Bangladesh, the construction of a new cargo terminal at Benapole land port in Jashore has been completed. According to port authorities, the terminal is expected to open in October. Once operational, it will have the capacity to accommodate 1,200 to 1,500 cargo trucks at a time, which will help reduce logistical challenges, improve trade efficiency, and increase revenue collection. In another development, the first ship on the newly established direct shipping route between China and Chittagong has successfully arrived at Chittagong Port. 

Out of India, space is easing and carriers have been accepting bookings to the USA and Europe with a minimum of 4-5 days’ notice. Equipment shortages continue, with Hapag, CMA and Cosco facing major challenges.

A potential strike at U.S. seaports on the East Coast and Gulf of Mexico, including six of the 10 busiest ports like New York and Savannah, may occur on October 1st. Next week, 39 containerships are forecast to arrive at the Port of New York and New Jersey. Some vessels may divert to Canadian or Mexican ports, but most are expected to wait outside the affected ports until the strike ends.

Overview by trade lane

FEWB summary:

Rate and capacity update as of September 27, 2024:

Oceania summary:

Rate and capacity update as of September 27, 2024:

Transpacific summary:

Rate and capacity update as of September 27, 2024:

Equipment update by carrier

Correct at time of publication on September 27, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: Europe

• Effective immediately, MSC will not accept shipments containing co-loads of any type of lithium batteries together with other Dangerous Cargo within the same cargo transport unit. (Source: MSC)
• OOCL PORTUGAL (24,188 teu) delivery completes series of twelve ‘megamax’ ships. All vessels of this class are currently operated on the OCEAN Alliance Asia -Europe loop ’NEU1’, which OOCL refers to as its ‘LL1’ and which COSCO names ‘AEU1’. (Source: Alphaliner)

Market intel: Oceania

• Maersk will launch a new direct call service, Northern Start Service, between Greater China Area and New Zealand  
  • First Sailing: Maersk Innoshima 443S departing Shanghai on 21st October 2024
  • Rotation: Shanghai – Hong Kong – Brisbane - Auckland – Nelson – Timaru – Port Chalmers – Napier – Tauranga
• Besides, Maersk will enhance Southern Star Service between Southeast Asia to New Zealand continuous with 5,900 TEU vessels and adjusted a new rotation with Napier port removed 
  • First vessel: Maersk Rio Bravo 444S departing Tanjung Pelepas on 3rd November 2024.
  • Rotation: Tanjung Pelepas – Singapore – Sydney – Tauranga – Lyttleton – Port Chalmers
• With the launch of new Northern Star Service, Polaris and Triple Star service will be decommissioned by Maersk
  • Last Triple Star sailing: Sally Maersk 443W from Tauranga on 20th November 2024
  • Last Polaris sailing: Spirit of Auckland 445W from Auckland on 6th November 2024

(Source: MSK)

Market intel: USA

USEC/GULF port strike

• USEC/Gulf - A potential strike at U.S. seaports on the East Coast and Gulf of Mexico on 1-OCT, facilities including six of the 10 busiest USEC/GULF ports like NYC/SAV port.
• According to analysis of vessel arrivals scheduled at the Port of New York and New Jersey in week 40 via there are 39 containerships forecast to arrive next week.
• Vessel may divert to ports in Canada, or even Mexico’s east coast, but the majority will simply wait outside affected ports until the workers return.

(Source: The Loadstar)