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Shipping market real-time information summary (above)
Feb 07,2024
African Routes
Affected by the Red Sea crisis, many international shipping companies have recently chosen to avoid the traditional Red Sea route and detour to the southern tip of Africa. However, as the infrastructure of many ports in Africa is unable to meet the sudden increase in shipping demand, some ports are congested. The Red Sea route accounts for about 10% of global shipping, and it is predicted that 14000 to 21000 container ships will pass through South African waters in the future.
Ian Rosario, Director of Operations, Mediterranean Shipping Company, South Africa: The port of Durban is now very crowded for container ships, and our own ships cannot even dock. At present, the waiting period in Durban Port is still very long and the congestion level is very serious. We understand that it will take about 20 days.
On the coastline of South Africa, the busiest port is the Port of Cape Town in addition to the Port of Durban. There has been a surge of ships calling at the ports of Cape Town and Durban to refuel as a result of Houthi attacks in the Red Sea. Issues such as the supply of bypass ships and the significant increase in demand for fuel supply have also become concerns. The local port authority is making every effort to ensure that ships dock at the port. It is understood that the route bypassing Africa is 10000 kilometers more than that through the Red Sea, and shipping companies need to spend an additional 14 days to bypass, which will increase the cost of shipping companies, and the related costs will also be transferred to the consumer side, making commodity prices rise.
West Africa Line:the cabins are very tight;
Prices are gradually warming up, MSK has dropped a lot, but the space has been booked to 2.17ETD,COSCO is very explosive, and West Africa has almost finished booking in February. PIL, ZIM, MSK and CMA are also tight.
East African Line:The cabins are tight;
Dar es salaam\Mombasa prices maintained, with little rise or fall.
South Africa Line:Cabin is tight
Southeast Asia Routes
According to a report on the website of Singapore's Lianhe Zaobao on January 31, data released by the Japan Automobile Manufacturers Association on January 31 showed that Japan exported 4.42 million cars in 2023, while China's Ministry of Industry and Information Technology announced earlier that China exported 4.91 million cars in 2023. For the first time in seven years, Japan has fallen from the throne of its largest auto exporter.
Brokerage firm Intermodal said in its latest weekly report that feeder ships are expected to benefit from lower order volumes compared to large container ships, thus creating opportunities for liner companies engaged in regional operations.
Intermodal said, "the container transport market is currently undergoing a major transition period, the development trend of each type is not the same. Despite the growing demand for large container ships, ship capacity supply is set to rise significantly by 2025, while orders for smaller feeder ships are declining, creating complex challenges and opportunities for liner companies engaged in regional operations. Intermoda analyst Chara Georgousi said, "Although container ship deliveries are expected to peak by 2023 and 2024, feeder vessels are expected to be the least affected. Currently, feeder vessel hand-held orders account for 9.3 per cent of the existing fleet capacity, in contrast to 34 per cent and 14.5 per cent for new Panamax and Panamax vessels. In addition, the situation is further exacerbated by the ageing fleet of feeder vessels, with an average age of 15.3 years and 29.21 per cent of vessels over 20 years old."
Recently, Maersk announced a series of changes to its maritime network covering trade between India and the Middle East.
The company has opened a new round-trip route in Colombo to help transshipment of Mediterranean cargo to and from the subcontinent. The service will rotate to Seralai, Colombo, Hinor, Colombo and Seralai from February 5.
"In Colombo, we will be connected to Europe through the AE7 service and to the Far East through the AE55 service," Maersk said in the customer consultation." "Both services include a Western Mediterranean hub, providing connectivity to Northern Europe," the company added."
Starting February 9, Arabian Sea services will stop at Salalah, Jebel Ali, Port Qasim (Pakistan), Pipavav (India), Nhava Sheva (India) and Salalah.
President Joko of Indonesia issued Presidential Decree No. 79 of 2023. The relevant regulations stipulate that the government will provide financial incentives to importers of pure electric vehicles in the form of exemption from import duties and luxury goods sales tax. At the same time, the local component index (TKDN) for electric vehicles will be adjusted. Among them, the TKDN index for electric two-wheel/four-wheel vehicles will reach the target of at least 40%, which must be adjusted from 2024 to 2026.
In 2023, the number of ships arriving at Singapore's port from all over the world exceeded 3 billion gross tons, setting a new record again. Gross tonnage (Gross Tonnage) refers to the total internal volume of a ship, which is generally used by the industry to measure the flow of ships at ports of call. Singapore's annual gross tonnage reached 1 billion and 2 billion in 2004 and 2011 respectively. That is to say, over the past 30 years, it has grown by 1 billion gross tons every 10 years.
Considering that the world maritime industry has experienced many hardships and twists and turns in the past few years, the breakthrough made by the port of Singapore is commendable. Of course, this has a lot to do with the close cooperation between labor and management. What is equally crucial is the high efficiency and reliability of port handling established on the basis of this cooperation. In the competition of world seaports, this is also the key to the victory of Singapore port.
Taiyue:Cabin is basically flat; Thai-Vietnamese line cargo volume rose, cabin burst, for the year after the start of stockpiling, freight rates maintained.
Indonesia:Cabin space is basically flat; near the year before, Indonesia line cargo volume rose, cabin burst, for the year after the start of hoarding, freight rates to maintain
The new horse:Cabins are basically flat; demand for the new horse line continues to be high, supply and demand fundamentals are solid, and freight rates remain.
The Philippines:Cabins are basically flat; Philippine market is basically stable, freight rates remain.
Japan and Korea:The shipping space is basically flat, the demand for the Korean line is general, the volume of the Japanese line is basically stable, and the freight rate of Japan and South Korea is maintained.
India:Cabin space is down-2% from last week. Some shipowners on the Indian line are in tight space, and they will start to stock up after the year. Small heavy cabinets are easy to be dumped and freight rates are flat.
Middle East Red Sea Route
According to Iran's official news agency, on January 31, local time, Iran announced unilateral visa exemption for 28 countries including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait.
Year-on-year data show that global demand grew 2 per cent year-on-year, with Asia-Pacific exports growing significantly by 6 per cent, while freight rates were still down 24 per cent year-on-year, but 31 per cent higher than pre-epidemic levels. Although the volume of freight from Asia-Pacific (especially South Asia) and the Middle East to Europe increased, it did not contribute to the increase in average prices, indicating that there is a complex interaction between demand, capacity and freight rates in the global air transport market.
Affected by the disruption of shipping caused by the situation in the Red Sea, the volume of freight from Asia-Pacific (especially South Asia) and the Middle East to Europe has increased significantly. While global freight tonnage was down 7 per cent overall compared to the previous two weeks, freight tonnage rose 2 per cent in the Middle East and South Asia and fell sharply on major intercontinental routes.
The Gemini (Gemini) shipping alliance newly announced by Maersk and Hapg-Lloyd is expected to become the third largest container shipping alliance in the world, thus triggering a new industry competition pattern, but its full impact will not be revealed until 2025. Compared with the Ocean Alliance (OCEAN), the initial operation network announced by Gemini (Gemini) members only provides limited direct flight coverage and is mainly deployed on trans-Pacific routes, it is not as large as the coverage of the current THE Alliance.
Middle East Line:The cabin burst, the price in the Middle East remained flat for the time being, and the rush to ship at the end of the year led to the shortage of cabin, which was in a state of cabin burst throughout February.
The Red Sea Line:Affected by the continuous escalation of tension in the Red Sea, many international shipping companies have chosen to avoid the traditional Red Sea route and take a detour to Africa. Prices remain high near the Spring Festival. Shipowners have raised prices in early February and the space is also very tight.
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