Weekly Ocean Operations Update: Asia to Europe, US and Australia - 25/10/24

General overview:

Market volume is picking up from Northern and East China and space is getting tight again following blank sailings in response to the slack season. We are expecting that the first half of November will see a huge capacity reduction of circa 33% plus.

We’re anticipating a 01 Nov 2024 GRI (General Rate Increase) from the carriers, which may see FAK rates increase to circa $4.5k/40, it will become more apparent in the next 7-10 days whether this GRI will stick or be removed. Should the Nov GRI "stick”, then we anticipate a further GRI to be implemented in Mid-November.

In Bangladesh, an initiative to introduce automation at Chittagong Port has been announced by Maritime and Textile Adviser. Automating processes would significantly reduce container handling times. Previously, unloading goods from a ship took about 10 to 15 days. The automation process is ongoing, which he believes will further decrease the time for loading and unloading containers.  The latter part of this week has seen cyclonic storm Dana in the Bay of Bengal. Activity remains normal at ports however the country is experiencing significant wind speeds and heavy rains.

In India port operations and capacity appear normal across Chennai, Tuticorin and Nhava Sheva ports.

In North America, Montreal dockworkers are planning a one-day port strike this Sunday.

Overview by trade lane

FEWB summary:

Rate and capacity update as of October 25, 2024:

Oceania summary:

Rate and capacity update as of October 25, 2024:

Transpacific summary:

Rate and capacity update as of October 25, 2024:

Equipment update by carrier

Correct at time of publication on October 25, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: Europe

ONE adds Med - Asia ‘MD5’ to 2025 East West network. This ‘MD5’ will offer eastbound sailings from Barcelona to Shanghai and Singapore. It is believed that ONE will buy slots on the new MSCoperated Far East – West Med ‘Jade’ service as the eastbound leg of this service indeed serves the three aforementioned ports. (Source: Alphaliner)

Market intel: Oceania

Gold Star Line (GSL) will introduce two new Trans-Tasman loops in later this week

Gold Star New Zealand Australia Service (GNA)

• Vessel deployed : 2 X 1,100 teu (Slots on ANL’s ANZ Shuttle service)
• Port Rotation: Brisbane > Auckland > Tauranga > Brisbane
• First sailing : 26 Oct 2024 ex Brisbane

Gold Star Trans-Tasman service (GTT)

• Vessel deployed : 4 X 1,700 – 2,700 teu (Slots on ANL’s TRANSANL service)
• Port Rotation: Sydney > Melbourne > Auckland > Lyttleton > Port Chalmers > Napier > Tauranga > Sydney
• First sailing : 25 Oct 2024 ex Sydney 

(Source: Alphaliner)

Market intel: USA

Montreal dockworkers plan one-day port strike on Sunday

Longshore workers at the Port of Montreal will stage a one-day strike on Sunday as part of their union’s pressure tactics amid ongoing contract talks with maritime employers. While the practical effects of a Sunday strike might be limited, maritime employers warn the work stoppage will further a slow bleed of cargo away from Montreal.

(Sources: theloadstar)

USA Terminal operations update

• New York - 2 days waiting time expected for APMT, 1 day at Maher Terminals LLC. and up to 4 days at Port Liberty Terminal Bayonne.
• Norfolk - Waiting time for a berth is up to 2 days this week.
• Charleston - Up to 2 days waiting time for Wando Welch Terminal and 1 day for North Charleston Terminal.
• Savannah - The waiting time for vessel berth at the terminal is up to 3.5 days, depending on the vessel's size.
• Houston - 1 day waiting time for vessel berthing at Barbours Cut terminal and 1 day waiting time at Bayport Container Terminal.
• Oakland - 3 Days waiting time at Oakland Int’l Container Terminal (OICT), no waiting time at TraPac.
• Seattle - Up to 3 days waiting time at Husky and 1 day at Washington United terminal at Tacoma. 1 day waiting time in Seattle.
• Los Angeles - Port of Los Angeles dwell time for local import cargo is 3.5 days, on-dock rail dwell is 8.6 days and import units on street is averaging at 3.9 / 6.1 days for 20 ft and 40+ ft containers respectively.
• Long Beach - Port of Long Beach dwell times for local imports are starting to go up to 5-9 days, average terminal gate turn time is between 22-66 minutes, depending on the terminal.