Weekly Ocean Operations Update: Asia to Europe, US and Australia 07/07/23

Shanghai Port Update:

• Port operations are currently normal
• Vessel waiting time is 0-3 days
• All container types are available
• No weather disruptions
• No capacity issues

Yantian Port Update:

• Port operations are currently normal
• Vessel waiting time is 1 day
• All container types are available
• No weather disruptions
• Volumes are picking up slightly in July, but there are still generally low volumes in the market. Market remains soft across all trades. We are seeing an uptick in July volumes, and retailers are sharing that destination inventories are being worked through, with positive sentiment that Q4 volume will start to pick up

Ningbo Port Update:

• Port operations are currently normal
• Vessel waiting time is 2-4 days
• All container types are available
• No weather disruptions
• Space is tight due to being occupied by empty units

Qingdao Port Update:

• Port operations are currently normal
• There is currently a 1-day delay on vessel waiting time
• All container types are available
• No weather disruptions
• No capacity issues

Xiamen Port Update:

• Port operations are currently normal
• Vessel waiting time is currently 1 day
• 20'GP / 40'GP / 40'HQ are open; others need to be confirmed case by case
• No weather disruptions
• Space is currently OK; EMC/MSC/CMA rollover occurred; market is soft 

FEWB rate and capacity update:

Oceania rate and capacity update:

TP rate and capacity update:

Blank Sailing Updates:

• Australia
• EU
• USA

Market Intel: EU

• MSK / CMA announced GRI with post-GRI level at USD 1,900-1,950/40’HC ex. Asia BPs to North Europe
  
  

Market Intel: Oceania

• A3/MSC/MSK announced GRI WEF 1st Aug 2023 ex NE Asia to AU & NZ (Source: COSCO/OOCL/ANL/MSC/MSK)

Market Intel: USA

• Canada West Coast Terminal Labor Strike

  ON Saturday, Jul 1, The Canada West Coast Terminal labor (ILWU) officially began a legal strike action against the BEMEA (British Columbia Maritime Employers Association). As of 6th Jul, a tentative agreement has not been reached, and negotiation between ILWU Canada and the BEMEA are anticipated to resume with the support of the Federal Mediation and Conciliation Service (FMCS).

  Canadian railways are implementing parameters to protect rail cargo:

  Export:

  • CN will accept containers against all secured RVs for full exports and empty returns.
  • No new RVs for full and empty containers will be provided to the WC terminals until the strike is concluded.
  • West bound trains in motion will be staged.

  Import:

  • Terminal production has been halted.
  • All Vancouver Door Moves and ERS commitments have been picked up from the ocean terminals.

  (Source:  MSC)