General overview: On the FEWB trade lane, market spot rates have remained stable in October following China's return from the Golden Week national holiday. Market volumes are increasing, particularly from Northern and Eastern China. With the traditional slack season and ongoing blank sailings, space is becoming tight once again. A significant reduction in capacity is expected in the first half of November, with a decrease of nearly 30%.
In Bangladesh, Chittagong Port has introduced an automation initiative to reduce container handling times and improve efficiency, an initiative led by the Maritime and Textile Adviser to address previous delays in loading and unloading. Trade between Bangladesh and India via the Benapole land port resumed Monday after a five-day closure for Durga Puja.
Overall, space availability for shipments out of India is improving, and carriers are now accepting bookings to the US and EU. However, bookings typically require a minimum advance notice of 4-5 days. Equipment shortages persist at certain Inland Container Depots (ICDs) and ports, with carriers like CMA and Cosco facing inventory challenges.
Overview by trade lane
FEWB summary:
Rate and capacity update as of October 18, 2024:
Oceania summary:
Rate and capacity update as of October 18, 2024:
Transpacific summary:
Rate and capacity update as of October 18, 2024:
Equipment update by carrier
Correct at time of publication on October 18, 2024:
Click here to download equipment spreadsheet
Asia port updates
Market intel: Europe
New berths at London Gateway will be built, confirms DP World chief
Dubai-headquartered terminal operator DP World has confirmed it is pressing ahead with a £1bn ($1.3bn) plan to develop the fifth and sixth berths at its London Gateway facility.
DP World chairman Sultan Ahmed bin Sulayem has confirmed that the construction of the two new berths, as well as a second rail terminal, will proceed, subject to planning approval and regulatory requirements.
“DP World London Gateway will help make Britain’s trade flow in the future by connecting domestic exporters with global markets and delivering vital supply chain resilience for the whole economy,” he said today. “I am proud of this major investment which underlines DP World’s long-term commitment to the UK,” he added.
A schedule for the project has yet to be drawn up, but the operator said the expansion would “make it Britain’s largest container port within five years”.
(Source: The Loadstar)
Market intel: Oceania
MSC will launch a new “KOALA” service by the end of Oct, 2024 from China and Indonesia to Western Australia
Vessel deployed : 4 X 1,600 – 2,600 teu
Port Rotation: Shanghai > Hong Kong > Jakarta > Fremantle > Jakarta > Shanghai
(Source: Alphaliner)
Market intel: USA
USEC/GULF port strike
USEC/GULF port strike suspend until 15-January 2025. Terminal reopened on 4-OCT and It normally takes one week clear out the backlog.
2M Alliance has announced blank sailings on Transpacific services due to the ongoing congestion at ports across the US East Coast caused by the recent East and Gulf Coast port work stoppage.
(Source: MSC/Maersk)
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