Supply Chain Reactions | Ocean Rates | Nov. 3, 2023
![Supply Chain Reactions | Nov 3, 2023 | Ocean Rates](https://www.shapiro.com/wp-content/uploads/SCR-11-03.jpg)
Shipping Line News
- The Alliance has suspended its EC4 service, which covers Kaohsiung, Xiamen, Hong Kong, Yantian, Cai Mep, Singapore, Norfolk, Savannah, Charleston, Newark-New York, and Singapore.
- “Green” ships (methanol-powered and/or dual fuel) continue to be produced in keeping with the large orders placed in 2022 and the beginning of 2023. These orders total 187 ships and represent a total capacity of 1.75 mTEU.
- The total number of idled carrier vessels is now 315, totaling over 1.18m TEU.
Blank Sailings Up Dramatically
- Blank sailings continue to increase on the eastbound trans-Pacific in an attempt to establish control over spot rates.
- This has effectively reduced capacity by an estimated 22%, compared to just an 11.5% reduction in September.
- Delays of up to 14 days have been reported due to rolled cargo.
- Amid this persistent and widespread rate pressure for US shipments, intra-Asia import trades to India are up a whopping 40% in the last three months.
- This uptick is causing liners to increase their port calls along with sending bigger vessels on the route.
Container Volume Asia to US East Coast Ports (2023)
![Container Volume Asia to US East Coast Ports (2023)](https://shapiro.com/wp-content/uploads/MicrosoftTeams-image-55-1024x616.png)
Container Volume Asia to US West Coast Ports (2023)
![Container Volume Asia to US West Coast Ports (2023)](https://shapiro.com/wp-content/uploads/Container-Volume-Chart-USWC-Web-Version-1024x616.png)