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 West Coast Ports (2023)