Weekly Ocean Operations Update: Asia to Europe, US and Australia 29/11/24

General overview: On the FEWB trade lane, the weekly normal capacity from North Europe is approximately 330,000 TEUs. However, in the first half of December, there is a planned capacity reduction of about 15-18%. Significant blank sailings are expected in Weeks 50 and 51, primarily due to THE Alliance managing the new Gemini routing.

Despite these cuts, an additional loader vessel, operated by ONE and with a smaller capacity of around 2,800 TEUs, is scheduled for Week 50 to accommodate the anticipated peak volumes associated with the Chinese New Year (CNY) cargo rush.

The Mediterranean’s weekly normal shipping capacity is about 189,000 TEUs. Currently, December blank sailings mean a capacity reduction of around 7-8%.

On the TPEB trade lane, PSW space availability has opened up due to a decrease in demand following the Thanksgiving and Black Friday promotions. For PNW, space is also open, with carriers actively redirecting more cargo to Tacoma and Seattle as a substitute for shipments typically routed through Canadian ports. The AW route remains tight, with most vessels operating at full capacity.

The market for Indian Subcontinent exports (excluding Bangladesh) is currently slower, with spot market rates slightly decreasing. However, rates for shipments out of Bangladesh are relatively strong, and equipment stock availability is improving significantly.

Overview by trade lane

FEWB summary:

Rate and capacity update as of November 29, 2024:

Oceania summary:

Rate and capacity update as of November 29, 2024:

Transpacific summary:

Rate and capacity update as of November 29, 2024:

Equipment update

Correct at time of publication on November 29, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: Europe

Hapag-Lloyd Warns of Significant EU ETS Surcharge Increase

Hapag-Lloyd has issued a warning to its customers, stating that the EU ETS (Emissions Trading System) surcharge is expected to "roughly double" in the near future. 
(Source: eeSea)

MSC Standalone East/West Network Service Update – November 2024

Asia to Europe Trade Enhancements:

• Lion & Dragon Services: 
  Added port calls in Nansha.
• Swan-Sentosa Service:
  • New westbound call in Yantian.
  • Direct connection to Yokohama, Japan, replacing Busan.
• Jade Service: 
  Now includes a stop at Vizhinjam, India before sailing to the Mediterranean.
• Albatros Service:
  • Two UK port calls:
    • Felixstowe will remain the first port of call in Europe from Asia.
    • London Gateway will be added as the second call in the UK.

(Source: eeSea)

Market intel: Oceania

Port of Melbourne Nears 300,000 TEUs in October 2024

Overall Container Trade:

• October 2024 saw a 4.9% increase in total container trade compared to the same month last year.
• For the fiscal year-to-date (FYTD), total container trade rose by 42,000 TEUs, reflecting a 3.8% growth.

Full Container Imports:

• October 2024 recorded a 4.1% increase, adding 4,800 TEUs.
• FYTD imports increased by 19,200 TEUs, marking a 4.3% growth.

Full Container Exports:

• October 2024 saw a 3.1% rise, with an additional 1,700 TEUs.
• FYTD exports grew significantly by 24,500 TEUs, reflecting an 11.3% increase.

Bass Strait Trade:

• Achieved a 5.8% increase in October 2024, adding 1,100 TEUs.

Empty Container Movement:

• Increased by 42.4% in October 2024.
• Overall empty container trade saw a slight 0.2% increase compared to the same period last year.

(Source: Container News)

Market intel: Americas

MSC 2025 Network Service Update

Mustang Service (Asia to Northwest US & Canada):

• Adjusted service lane, effective February 2025 (vessel name TBA).
• New Rotation: 
  Xiamen – Yantian – Ningbo – Shanghai – Busan – Seattle – Vancouver – Portland

Pearl & Chinook Services (Asia to US & Canada):

• New port calls added in Vung Tau and Haiphong, Vietnam, effective February 2025 (vessel name TBA).
  • Pearl Service Rotation: 
    Vung Tau – Haiphong – Nansha – Hong Kong – Yantian – Xiamen – Long Beach – Oakland – Vung Tau
  • Chinook Service Rotation: 
    Vung Tau – Haiphong – Yantian – Shanghai – Qingdao – Busan – Prince Rupert – Vancouver – Vung Tau

(Source: MSC)

ZIM 2025 Network Service Update

ZXB Service:

• Will now include an exclusive call at Boston while dropping Baltimore from its rotation.
• Effective February 2025 (vessel name TBA).
  • Updated ZXB Rotation: 
    Singapore – Cai Mep – Haiphong – Yantian – Panama Canal – Cartagena – Charleston – Savannah – Jacksonville – New York – Boston – Suez Canal – Singapore

ZIM Z7S (ZIM Seven Stars) Service:

• Will now service the Port of Baltimore due to the ZXB rotation change.
• Additionally, Colombo will be added on the backhaul leg.
• Effective February 2025 (vessel name TBA).
  • Updated Z7S Rotation: 
    Singapore – Laem Chabang – Yantian – Cai Mep – Singapore – Suez Canal – New York – Baltimore – Norfolk – Suez Canal – Colombo – Singapore

(Source: ZIM)