Source: Market average rates for 40‘ containers according to www.xeneta.com
Trade Analysis: Far East Westbound
Situation
We are experiencing multiple blank sailings, leading to further issues with schedule reliability for all shipping alliances. Routings via the Cape of Good Hope seem to be the new normal for this trade lane, and carriers have adjusted their services accordingly, considering that this routing will stay in place for a longer period than initially expected. On the other hand, this will help to improve schedule reliability once the routings and services are fixed, and it will also help to absorb the overcapacity of new vessels entering the market in 2024.
Obstacles
Blank sailings and port call omissions are creating problems with schedule reliability and causing delays.
Outlook/Solutions
There is a slightly positive trend of increased bookings in April, but it seems to be rather short-lived. Several shipping lines have announced GRIs effective April 1 in order to slow the rate decline. With several blank sailings in April, this may be quite effective, at least for the time being.
A talk with Rolf Habben Jansen, CEO of Hapag Lloyd
We had the opportunity to talk to CEO of the fifth largest container carrier worldwide about the recent developments in seafreight and acquisition plans.
What does a bird have to do with cranes?
- Facts
It’s impossible to think of a world without cranes. Whether used for loading cargo, or in the construction industry – cranes are among the most important man-made mechanical devices.
