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Summary of real-time information on the shipping market (below)
Feb 07,2024
Europe, Australia and New Zealand routes
The UK has provided a £ 33 million grant for new technology to reduce emissions from shipping. The funds were awarded to 33 projects across the country, including initiatives dedicated to the construction of electric vessels and charging ports, supporting the shipping industry's goal of achieving net zero emissions, according to a statement.
This is the fourth round of funding received through the Clean Maritime Demonstration Competition (CMDC). The first three rounds allocated more than £ 95 million for 105 projects, of which £ 45 million was private investment. These initiatives aim to position the UK as a leader in emerging clean maritime technologies, with a focus on developing electricity, hydrogen, ammonia, methanol, wind power and other decarbonization solutions.
Lord Davies, the UK's maritime minister, said: "Unleashing a sustainable maritime sector and the economic growth it brings relies on cutting-edge technology to take it to the next level. Achieving sustainability requires bold investment, not only to deliver greener shipping across the UK, but also to provide highly skilled jobs. Government funding is a key driver of cutting-edge technology, motivating investors to participate in pilot incentives." It added: "The continued funding needs highlight the strong interest of the industry in clean maritime investment. This support also fosters partnerships between government and the private sector, paving the way for exciting innovations in decarbonizing the maritime industry."
The Clean Maritime Demonstration Competition (CMDC) is one of many initiatives to fund green technology in the UK. Last year, the government launched the Zero Emission Ships and Infrastructure (ZEVI) competition to support late-stage projects in development, as well as the Clean Maritime Research Centre, which aims at the early-stage scientific research behind green technologies.
Yannis Chatzitheodosiou, chairman of the Athens Merchants Chamber of Commerce, said that due to the Red Sea situation, goods arriving at the port of Piraeus will be delayed by up to 20 days and more than 200000 containers have yet to reach the port.
"As long as this crisis continues, ships will not be able to pass through the Red Sea. This means that cargo will arrive at the port of Piraeus with a delay of 10 to 20 days." He added that the transportation cost per container is usually 1800 euros, but due to the additional distance through alternative routes, the transportation cost has reached 6500 euros.
The diversion from Asia via the Cape of Good Hope had a particularly severe impact on Mediterranean ports, extending the voyage by about two weeks.
He warned: "As long as the war continues and ships go to assist the trade, in addition to the inconvenience and increased costs, there will be a shortage, because the demand for ships is great and the supply is less and less. We mainly import electrical appliances, mobile phones and clothing from the Far East. We have 15-20 days in stock, but if this situation continues for more than a month, then there will be a shortage and any product that comes will be much more expensive. Fuel arrives in Greece in the same way. So we also expect growth here to affect all sectors and inflation."
With the introduction of the federal government's e-cigarette import ban, the price of disposable e-cigarette products on the market has skyrocketed, and the price has even soared three times.
Last week, a reporter from the Australian News Corporation visited a number of convenience stores selling e-cigarettes in Sydney CBD. The most common e-cigarette IGET 3500 is priced at A $25 in some stores, while the same product is priced as high as A $55 in some stores.
Starting from January 1 this year, Australia has banned the import of disposable electronic cigarettes. Since March 1, the import of all electronic cigarette products has been banned. In Australia, the import and sale of disposable e-cigarettes has always been illegal. But the new legislation has brought confusion and fear to e-cigarette users, who are going to "stock up" in droves ".
Australia-New Zealand Line: Freight rates were flat at the beginning of February; As the factory had already stopped shipping before the end of the year, and the ships that had gone to Port Sai in Australia had already returned, the capacity had increased. Prices are expected to show a downward trend in mid-to-late February. Australia's western port is severely damaged and needs to be transferred in Singapore. The transfer time will take more than one month. The application with the shipowner is invalid and the cabin can only be released after acceptance. Remind customers to pay attention when shipping, the voyage will take a long time.
Europe, Mediterranean Line: The freight rate of European routes is affected by the Red Sea incident. Many container ships bypassing the route will return to Asia one after another in mid-February. Some shipowners will start to reduce their prices and stock up their goods, preparing to carry them during the Chinese New Year and 2-3 weeks after the year. HMM has a shortage of 40HQ/45HQ cabinets in South China. If the customer's order is not urgent, it can be delayed until the end of the year.
Central and South American Routes
Peru has recently been accepted as a development partner by the Association of Southeast Asian Nations (ASEAN). Peru is also the sixth country to establish such a relationship with ASEAN. The other five countries are Germany, France, Italy, the Netherlands and Chile.
On January 29, the Mexican Ministry of Economy issued an announcement stating that in response to the application of Mexican companies, an anti-dumping investigation was initiated against polyethylene terephthalate/PET resin originating in China, regardless of imported sources.
Recently, the Argentine Ministry of Agriculture, Animal Husbandry and Fisheries announced that for the first time, Chinese Customs has included Argentine companies in the list of companies approved to export wheat to China, which will pave the way for Argentina to export wheat to China in the future.
At present, Australia and Canada are the main wheat suppliers to China. Argentina is the world's leading wheat producer and exporter, but the 2022-23 harvest was damaged by drought and there were few stocks available for export. This year, Argentina's wheat is expected to recover growth, so expanding the Chinese market is of great significance to Argentina.
Recently, the e-commerce industry forecast report released by consulting firm Kawes Lab pointed out that Chile's e-commerce has declined for three consecutive years after explosive growth during the epidemic, falling 2.7 percent, 12.5 percent and 1.5 percent respectively from 2021 to 2023. It is expected to rebound this year and grow 4.8 percent and 6.1 percent respectively from 2024 to 2025. Consumers from Chile online shopping prefer good-looking, clothing ranked first, followed by footwear and technology products.
The report also discusses the trends that will affect e-commerce this year. First, more than half of online shopping in 2023 will be done through mobile device terminals, and second, consumers will pay more attention to personalized services such as product recommend and customer service answers.
South America West/Mexico LineFreight rate and shipping space are the same. This week's shipping space will be released. Please arrange the shipping plan reasonably.
Warm Tip: COSCO Pearl River Delta Barge 2.05 the last flight, 2.19 the first flight, please arrange the schedule reasonably.
Central American Line: This week's shipping space is the same as last week, freight rates continue to be lowered, and some barges can be booked until the middle and late of the month. Strengthen the collection of goods SANLORENZO/ACAJUTLA/CORINTO/PUERTO CALDER and its inland points.
Panama, Caribbean Line: This week's shipping space is the same as last week's. At the end of the month, the shipping space for large ships will be open. Due to the continuous influence of the Panama Canal's dry season, the weight of each Caribbean line will continue to be limited. Please also arrange the shipment and shipping schedule reasonably. Please book the shipping space. From 2024, shipowners will implement additional canal fee costs for all ports passing through the Panama Canal.
South America East LineThis week's freight rate and shipping space are the same as last week's. It is suggested to provide shipping plan half a month in advance to book shipping space in advance. In addition, heavy container shipping space is still not very popular until further notice. In addition, NOR is tense in Shenzhen, NOR cabinets are scarce in Shekou in the east of South America, and some storage yards are short of cabinets.
US-Canada route
A few days ago, Star Shipping announced the launch of a new trans-Pacific route ZIM PNW Xpress(ZPX), which connects Asia and North America through Vancouver Port to ensure efficient transportation time. The port of affiliation is: Gaimei-Yantian-Kaohsiung-Xiamen-Ningbo-Shanghai-Vancouver-Busan-Gaimei. The first ship has already set sail.
According to reports, the ZPX route has extensive rail connections and can cover all major inland multi-modal (IPI) destinations in Canada and the United States, including eastern and central Canada and the Midwest of the United States.
It is understood that in the U.S. rail freight network, IPI points, as the most frequently used mode of transportation, have played a role in transit that cannot be ignored.
Hani Kalinski, executive vice president of the Pacific business unit of Estar, said that Estar will continue to be committed to providing flexible and high-quality supply chain solutions to meet the changing needs of the market.
The sequence of ZPX route is: Gaimei-Yantian-Kaohsiung-Xiamen-Ningbo-Shanghai-Vancouver-Busan-Gaimei.
Logistics industry insiders pointed out that the demand for the North American line is stronger than the industry expected, and the supply of ships is still tight. Since February, prices have risen, but only somewhat. With the Lunar New Year approaching in Asia, many shippers are eager to ship in early February, and market volumes remain high. The average utilization rate of shipping space in Shanghai port is about 95%, some flights are fully loaded, and the quotations of airlines rise more or fall less. Freight rates continued to strengthen this week, rising by 2%.
Specifically, the freight rate from the Far East to the US West was US $4412 per FEU, up US $92 or 2.1 percent from the previous week. The freight rate from the Far East to the US East was US $6,413 per FEU, up US $151 or 2.4 percent from the previous week.
US-West Line: February freight rates rise slightly
US Eastern Line: February freight rates rise slightly
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