Posts tagged “Asia Freight”

Maersk announce rate hike on Asia-North Europe 
Maersk is attempting to undo weeks of heavy discounting on the Asia-North Europe tradelane with a substantial increase in its FAK rates at the end of the month. 
And it warned that other routes “may also be subject to increases” as it reassess rate structures across its network. 
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Major ocean carriers set course for more-profitable routes 
Ocean carriers constantly reassess network coverage to cope with the impact of demand fluctuations but, post-pandemic, this has translated into widely different trading patterns for the top-ranked lines. 
A survey by Alphaliner reveals that, compared with a year ago, most of the top ten carriers have reduced their fleets trading between Asia and North America – MSC in particular having cut the percentage of its tonnage deployed on the transpacific from 16% to just 9%. 
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2M 'go-slow' and massive capacity injection lights Asia-Europe touchpaper 
Next month, 2M partners MSC and Maersk will deploy nine extra vessels on their Asia-Europe services, an injection of capacity in a period of weak demand that may unleash a ferocious race-to-the-bottom freight war on the tradelane. 
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Containerised cargo volumes moved in the deep-sea container shipping market fell a further 2.5% during the final quarter of 2022, marking the traditionally busiest period of the year as the ‘peak season without a peak’. 
Volumes have fallen steadily in the early weeks of 2023 and world trade continues to stumble as economies grapple with persistent inflation and high energy prices, suppressing consumer demand for goods across nearly all economic sectors. 
On the demand side, many carriers and service providers are anticipating a recovery in demand in the second half of the year 
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Rate erosion may be easing, but rock-bottom prices are 'not good for anybody' 
There may be signs that rate erosion is easing as reductions look to have slowed significantly. On the key transpacific and Asia to Europe trade lanes, the indices are clearly showing that the rate erosion from the stellar highs of a year ago is beginning to ease. 
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Charter and equipment demand offers some hope for carriers in H2 
Maersk says “there may be reasons for optimism”, as it hopes for a “surge in demand from the second half of 2023” onwards. 
Although the carrier added that there was “little sign of any short-term improvement”, there were some positive signs emerging from the container industry services sectors. 
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Airfreight rates in the doldrums as carriers look to set their BSA tariffs 
Asian forwarders are reporting sinking airfreight rates, just as airlines look to set out their BSA tariffs. 
Two standard-setting airlines have already set out their BSA rates ex-Asia, according to one source. 
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Carrier hopes for a demand surge rest on summer peak season 
Container spot rates from Asia to North Europe, as recorded by Drewry’s WCI index, increased by 10% this week from their pre-Christmas level, to $1,874 per teu. 
However, export demand to North Europe has been much weaker than usual ahead of the Chinese New Year on 22 January, and rates are expected to come under pressure again after the holiday as carriers scramble to fill their ships. 
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Carriers are facing the 'quiet before the storm' for contract rates 
A year ago, shippers were desperate to agree annual contract deals with ocean carriers to secure their supply chains, and were prepared to do, and pay, ‘whatever it took’. 
And carriers were holding ‘beauty contests’ to determine the most attractive large-volume BCOs to be included in their exclusive customer portfolios. 
But 12 months on, the container liner shipping market has seen an 180-degree turn – world economies are being racked by huge hikes in energy costs, high inflation and spiralling interest rates, causing a pause in discretionary spending by consumers and a sharp downturn in demand. 
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Ocean carriers plan to blank half their sailings from Asia, post-CNY 
Against a background of extremely weak demand forecasts, ocean carriers are preparing to blank around half their advertised sailings from Asia to North Europe and the US after Chinese New Year on 22 January. 
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