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So far this year, container volumes have fallen nearly 2% year-on-year while average freight rates have declined, reaching 2019 levels in September. Since then, they have continued to fall. However, the cost to charter a ship remains 25% higher than in 2019.
The shipping number of the week provides numbers with a brief analysis of relevant developments in the shipping markets.
The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region.
The bad news for liner operators appears to have no end. In a normal year, the weeks leading up to Chinese New Year (CNY) bring an increase in volumes and freight rates. So far, however, the lead-up to CNY in 2023 has been the worst in 13 years.
Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.
A lot actually - 2009 is set to be a monster year for a new inflow of tonnage in all the major shipping segments. So far, cancellations on a large scale have not happened, but some slippage in deliveries is visible.
The poor freight rate performance on the main trading lanes took us by surprise – even with our modestly positive outlook, the peak season was set to be
SUPRAMAX: Brokers said there was more activity from the east Mediterranean and east coast South America but so far little came to light. The Baltic Exchange daily fixture report features daily updates on the Baltic exchange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate. The weekly dry bulk market report by the Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.
