Transpacific Archives - The Loadstar

Disruptions at Canadian ports see rail operations hit the buffers

Charlotte Goldstone — Wed, 06 Nov 2024 12:37:55 +0000

Disruption continues across Canadian ports as rail embargoes are announced – and with no end in sight, carriers must weigh up whether their ships wait at anchorage or turn around.
The union representing longshoremen at the port of Montreal, CUPE 375, began an indefinite strike on 31 October over its contract dispute with the Maritime Employers Association, affecting container terminals operated by Termont and with no indication of when it might ...

The post Disruptions at Canadian ports see rail operations hit the buffers appeared first on The Loadstar.

Mærsk vs ONE vs Matson – the earning curve

Gavin van Marle — Wed, 06 Nov 2024 12:28:59 +0000

As quarterly results from ocean carriers begin to filter into the market, we are already witnessing some revealing patterns for operating earnings per teu.
Background
The third quarter was a seesaw for carriers and customers alike.
The Red Sea crisis continued uninterrupted; then we bumped into a peak season on the Asia-Europe trade carried before anyone realised it was even on its way; and North America’s appetite for container imports was healthier than ...

The post Mærsk vs ONE vs Matson – the earning curve appeared first on The Loadstar.

IPO brings in HK$941m for TS Lines to finance network expansion

Martina Li in Taiwan — Fri, 01 Nov 2024 11:34:36 +0000

Taiwanese liner operator TS Lines’ initial public offering (IPO) on the Hong Kong Stock Exchange raised HK$941m ($121m) after its listing today.
The funds raised were, however, short of the $145m TS Lines had originally targeted.
The company issued 250m shares at between HK$3.50 and HK$4.50 each, with the final offer price at HK$4.18 (US$0.54) per share.
JP Morgan and China Merchants Securities were joint bookrunners for the IPO, which was subscribed 12.09 ...

The post IPO brings in HK$941m for TS Lines to finance network expansion appeared first on The Loadstar.

ONE enjoys huge profit rise – every eastbound transpac ship full

Gavin van Marle — Thu, 31 Oct 2024 17:19:13 +0000

Japanese container line ONE today reported its Q2 24 interim results that showed huge increases in profitability on the back of increased volumes and tightened supply, and vessel utilisation levels consistently at 90%-plus levels.
The carrier recorded a second-quarter revenue of $3.54bn, with volumes up 7%, to just over 3.3m teu across all its trades, while profits soared – Q2 EBITDA of just under $2.4bn was some 447% higher year on ...

The post ONE enjoys huge profit rise – every eastbound transpac ship full appeared first on The Loadstar.

US retail inventories hit new heights, and probably caused early transpac peak

Gavin van Marle — Wed, 30 Oct 2024 12:50:51 +0000

In a warning to container shipping lines serving North America that the hitherto strong demand cannot continue indefinitely, new data from Sea-Intelligence Consulting suggests US retail inventories may be reaching a peak.
“The latest data from the US Census Bureau shows there is a consistent inventory increase in the retail sector,” Sea-Intelligence Consulting chief executive Alan Murphy said.
“Not only are retailers increasing inventories, the pace of increase has also quickened,” he ...

The post US retail inventories hit new heights, and probably caused early transpac peak appeared first on The Loadstar.

Carriers may have ‘overshot’ on capacity and will need to blank more sailings

Gavin van Marle — Fri, 25 Oct 2024 11:54:05 +0000

Container spot freight rates on the main export routes out of China continued to fall this week, with declines seen on both the transpacific and Asia-Europe trades.
The trend of declining spot freight rates was bucked, however, on the transatlantic, where Drewry’s World Container Index (WCI) recorded a 28% week-on-week increase, to $2,663 per 40ft, on its Rotterdam-New York leg.
And the backhaul New York-Rotterdam leg price rose 4%, to $761 per ...

The post Carriers may have ‘overshot’ on capacity and will need to blank more sailings appeared first on The Loadstar.

The absurdly simple freight rate shipping cycle – except when it’s not

Gavin van Marle — Fri, 25 Oct 2024 11:30:05 +0000

The economics of the container shipping industry are absurdly simple – just supply vs demand.
What is so fiendishly difficult is judging how much of either factor there is. And not just in pure numbers, but in the way that external factors such as strikes and storms; congestion and conflict can hugely influence not only levels of supply and demand, but the perception of those levels.
This gives the sector the weird ...

The post The absurdly simple freight rate shipping cycle – except when it’s not appeared first on The Loadstar.

Trump tariff threat and China downturn will make CNY 2025 ‘different’

Charlotte Goldstone — Mon, 21 Oct 2024 12:32:39 +0000

The impact of Chinese New Year (CNY) on global supply chains “cannot be overstated”, according to Maersk, amid a warning that the forthcoming 29 January to 3 February holiday would be different from previous years, due to two volatile factors.
During CNY, factories across Asia shut down, “creating bottlenecks and delays in supply chain”, Maersk warned customers today.
“Companies experience a rush to complete orders before the holiday, and a backlog of ...

The post Trump tariff threat and China downturn will make CNY 2025 ‘different’ appeared first on The Loadstar.

Spot rates ex-Asia still falling, despite USEC congestion, with more blanks

Gavin van Marle — Fri, 11 Oct 2024 12:34:26 +0000

Container spot freight rates on the main trades out of Asia continued to fall this week, as the resumption of operations at US east and Gulf coast ports eased industry congestion fears.
Nonetheless, the three-day stoppage by ILA members ensnared up to 70 vessels in the region, leaving an inevitable backlog that will take time to clear – estimates vary from “a matter of days” to “two or three weeks”, although ...

The post Spot rates ex-Asia still falling, despite USEC congestion, with more blanks appeared first on The Loadstar.

Strike swell hits transatlantic rates – transpac shippers hold their breath

Gavin van Marle — Fri, 04 Oct 2024 12:11:33 +0000

The supply chain ripples from the US east and Gulf coast port strike have largely still to make themselves felt in global spot freight rates, according to this week’s indices.
Despite predictions that the transpacific eastbound headhaul trade might see a surge of demand into US west coast ports, the major spot rate indices saw freight rates decline on the trade: the Drewry World Container Index’s (WCI) Shanghai-Los Angeles leg declined ...

The post Strike swell hits transatlantic rates – transpac shippers hold their breath appeared first on The Loadstar.