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The scale of the improvement in the liner industry’s fortunes was laid bare today when OOCL released its first-quarter operational update showing its average revenue per container, across all trades, had increased 58.3%, year on year. This was accompanied by a 28.3% year-on-year increase in volumes, which led to OOCL posting provisional...
Container spot rates are beginning to head upwards again across all trades from already elevated levels, as carriers reduce their commitment to contract volumes in favour of much higher FAK rates. The Freightos Baltic Index (FBX) China-North Europe component edged up to $7,316 per 40ft this week, and market reports to The...
The traditional April network adjustments by the three east-west alliances are likely to take a back seat this year as carriers navigate their way through the fall-out from the week-long Suez Canal blockage. Even before the enforced week-long delay of the waterway’s north and southbound convoys, THE Alliance was the only vessel...
Container spot rates from Asia to Europe remained virtually unchanged this week, despite softer demand, assisting carriers to lock-in shippers with huge contract rate hikes. On the transpacific, there was no let up in demand and BCOs are struggling to secure new deals with carriers. According to the Asia to North Europe component...
The UK port of Liverpool will see calls by the 2M transatlantic loop it won from Felixstowe at the end of last year suspended until mid-May, as Maersk and MSC grapple to improve schedule reliability. The 2M alliance said that, as a result of bad weather in the North Atlantic compounded by...