Weak containership utilisation levels have forced many container lines to decide on culling capacity on the Asia-Europe sailings in August, but the 2M alliance of Maersk Line and Mediterranean Shipping Co (MSC) is thus far not planning to do the same, according to container shipping analyst Alphaliner.
While the tanker market basks, the dry market languishes but that didn’t stop dry paper from having some fun this week. Trouble is this exuberance was absent a similar physical sentiment. Though the tone was positive, it was hardly bullish, and by week’s end the exuberance looked to have run out of puff.
The falling trend in container shipping spot freight rates for most of this year is pushing larger boxships to idle on the back of the continuing overcapacity problem, according to an analyst report by shipping association Bimco.
Two financial crises ago, in 1997 a horror movie was released called 'I know what you did last summer'. At the start of this week, freight brokers were studying a script with the working title 'Didn’t do much last summer'.
The fall in Chinese demand for chemicals will be a major contributing factor to yet another challenging year for the chemical tanker shipping market, according to the latest chemical forecaster published by shipping consultant Drewry.
The Transpacific Stabilization Agreement (TSA) is recommending another $600 per feu rate increase ahead of the Lunar New Year as lines struggle to raise rates on the key trade.