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Nearly a hundred voyages were canceled! Large-scale suspension of navigation and port jumping attack......
Feb 06,2024
Near the Spring Festival, the volume of goods fell, coupled with the return of bypassing ships, supply is not tight for the time being, followed by freight rates also stopped falling and rebounded. However, in order to cope with the shortage of ships in the market, major shipping companies have chosen to retain capacity in the off-season of traditional shipping and cancel nearly 100 voyages.
The supply of ships and containers in the shipping market is tight.
According to the latest data released by the Shanghai Airlines Exchange on February 2, the Shanghai Export Container Freight Index (SCFI) index rose 38.64 points to 2217.73 points last week, a weekly increase of 1.77 percent, of which the U.S. line freight rates continued to rise, the U.S. West line rose the highest, while the European line and Mediterranean line freight rates also narrowed.
Last week, the freight rate per FEU on the Far East to the US West LineUp $593 to $5005, week.an increase of 13.44 percent;
Freight rate per FEU from Far East to US East Lineup $239 to $6652,Weekan increase of 3.72 percent;
Freight rate per TEU for Far East to Europe lineDown $138 to $2723, week.by 4.82 per cent;
Freight rate per TEU on Far East to Mediterranean LineDown $150$3753,Weekdown 3.84 per cent.
And in the near-ocean line, the Far East to Kansai, Japan per TEUFreight rates were flat from the previous week.$289;
Freight rate per TEU from Far East to Kanto, JapanFlat from previous week$302;
Freight rate per TEU from Far East to Southeast AsiaCompared with the previous weekDown $15 to $305;
Freight rate per TEU from Far East to South KoreaDown $2 from the previous week, for $157.
Industry analysis pointed out that the decline in cargo volume near the Spring Festival, coupled with the return of bypassing ships to Asia, supply is not tight for the time being, and a slight drop in freight rates on European lines is normal. It is expected that China will start shipping from March, and the shortage of containers and ships in the market will be more serious.
The Red Sea crisis has fully affected the shipping market, the Suez Canal, Panama Canal two major shipping routes together appear traffic difficulties, the problem can not be solved for a long time on the impact of the logistics supply chain will only become more and more serious.
In view of the fact that ships are still tight, major shipping companies will choose to retain capacity in the off-season of traditional shipping in order to cope with the shortage of ships in the market.
Drewley: Nearly 100 voyages canceled
According to Druri's latest data, in the major trans-Pacific, trans-Atlantic and Asia-Northern Europe and Mediterranean routes, of the 650 scheduled voyages, it has been announced between the 5th week (February 4-February 11) and the 9th week (February 26-March 3)Cancelled 99 voyages, with a cancellation rate of up to 15%.
Among the canceled flights, 56% of the blank voyages will occur on the trans-Pacific eastbound route.34% will occur on the Asia-Euro Mediterranean route and 10% will occur on the westbound transatlantic route.
Specific to the suspension arrangements for the next five weeks, the three major alliances canceled a total of 77 routes, of which:
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- OA alliance canceled 33 times
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- 2M Alliance announced 22 cancellations
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- THE Alliance Announces Cancellation 22 Times
Drury said shipping companies continued to adjust their services before the Lunar New Year to reduce disruption caused by the Red Sea diversion, adopting strategies such as shortening trips and increasing sailing speed.
As demand eases after the Spring Festival and new ship capacity increases, disruption and cost growth in shipping may have peaked.
At the same time, a shortage of empty containers in Asian export hubs has posed a challenge, prompting shipping companies to potentially add ships to ease the shortage.
Global Flight Reliability Decreased by 5.0 Percent
It is worth noting that the Red Sea crisis has also greatly reduced the reliability of global flights. Sea-Intelligence has released its 149th Global Liner Performance (GLP) Report, which provides liner reliability data for the period up to December 2023, covering the reliability of 34 different trade routes and more than 60 shipping lines.
Source: Sea-Intelligence.com,GLP Reports, Issue 149
Source: Sea-Intelligence.com,GLP Reports, Issue 149
During the Red Sea crisis, global flight reliability fell 5.0 percent month-on-month in December 2023, the biggest drop since February 2021, at 56.8 percent, the report said.
This makes December 2023 the second-lowest scheduling reliability month of the previous year. Compared with the same period last year, flight reliability in December 2023 was only slightly higher than 0.4 percent in December 2022. the average delay in the arrival of late vessels due to circumnavigation also increased by 0.30 days over the previous month to 5.35 days.
Source: Sea-Intelligence.com,GLP Reports, Issue 149
In the last month of 2023, the Taiwanese container shipping company Evergreen (Evergreen) was the most reliable of the top 13 operators with 63.6 per cent of haul reliability, followed by CMA CGM, the only two operators to exceed the 60 per cent threshold.
The dispatching reliability of six shipping companies is in the range of 50%-60%, while the remaining five shipping companies are between 40%-50%. In addition, Yang Ming is identified as the least reliable shipping company, with a dispatching reliability of 45.6 in December 2023.
Alan Murphy, CEO of Sea-Intelligence, said: "Due to the increase in transit time in Africa, none of the top 13 shipping companies achieved a month-to-month improvement in flight reliability, while only four shipping companies achieved a month-to-month improvement."
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