The sharply correcting container shipping market has resulted in lower earnings as it moves into an overcapacity-driven downcycle. Whilst a large volume of new container vessel deliveries is anticipated to result in oversupply, demand growth remains weak. This combination creates an environment that is likely to...
Spot rates in the eastbound trans-Pacific have fallen, potentially signifying that the temporary tariff pause won't deliver the consistent demand initially envisaged. West Coast rates fell 32% in the week ending 17th of June whilst East Coast rates were down 11% over the same period. This...
The current volatility across the Middle East has seen spot rates for the largest crude oil tankers from the Persian Gulf to China surge 50%, whilst major shipping organisations continue to operate through the region for the moment. The rate for a 270,000-metric tonne tanker rose...
Despite the muted trading activity since China's new year holiday, spot rates on most major east-west ocean trades continued to show slight declines. In recent weeks, Drewry's World Container Index (WCI), transpacific routes and Xeneta's XSI Far East-North Europe route all saw spot rates fall. The...
The new year has seen multiple ocean carriers announce new surcharges, from ‘Labor Interruption Surcharges’ through to ‘Emergency Operational Surcharges’ and more, all due to commence mid-January on the North Europe to US trade lane. These are all due to activate at the same time...
According to the Shanghai Containerised Freight Index, spot freight rates between Shanghai and Melbourne dipped to their lowest level since mid-August in the first week of December, reaching 3700FEU. Given the subdued state of the Australian retail economy this decline was anticipated sooner, however rates were...
A more detailed examination of the Australia-China rates shows a slight recovery in spot rates in the third week of October, after several weeks of (mostly) falls. The Shanghai Containerised Freight Index increased slightly to USD 4052/FEU, up from USD 3932/FEU in the week prior, and...
Container spot freight rates on the main trades out of Asia have continued to fall as the postponement of the ILA strike eased industry concerns about the potential ramifications of the industrial action. Whilst some congestion did result from the three-day ILA strike which has affected...
Recent data indicates a downward trend in freight rates around the globe, with prices taking a steady tumble ahead of what is traditionally the commencement of the peak trading period. Here we take a closer look at the various geographical regions: Asia-Europe An early peak season that...
The strong demand being experienced across Asia's export trade lanes is utilising a large amount of capacity being provided by shipping companies, which is causing tension in the quest to balance three main factors: high market demand, long transit times due to Red Sea diversions...