With the recent delivery of the 23,992 teu EVER ACE, the world has a new record container vessel in terms of carrying capacity. The Samsung-built Evergreen ship stole the crown from the marginally smaller 23,792 teu HMM ALGECIRAS. The rather small difference in nominal capacity shows that it no longer makes much practical sense to […]
On a Week 34, the MABUX World Bunker Index turned into a moderate upward evolution. The 380 HSFO index rose by 5.76 USD: from 440.36 USD/MT to 446.12 USD/MT, the VLSFO index increased by 6.07 USD: from 534.14 USD/MT to 540.21 USD / MT, while the MGO index added 3.63 USD (from 633.54 USD / […]
On a Week 31, MABUX World Bunker Index did not show any significant changes. The 380 HSFO index rose by 2.75 USD: from 454.61 USD/MT to 457.36 USD/MT, the VLSFO index fell by 0.08 USD: from 558.89 US /MT to 558.81 USD/MT, while the MGO index added 1.30 USD (from 650.06 USD/MT to 651.36 USD/MT). […]
Carriers are expected to set new financial records in the second quarter as freight revenues spiral. A survey of carriers’ cargo liftings shows that volumes declined significantly in the Q1 2021, reversing two previous quarters of growth and taking volumes largely back to with pre-pandemic levels. On average, liftings fell 6% QoQr for these carriers […]
Capacity along the Asia has continued to increase throughout 2021, despite several setbacks, including a canal blockage, container shortages, and port congestion. Container rates on the Asia to North Europe have skyrocketed over the course of the year. The Freightos Baltic Index (FBX) has reached $13,118 as of the week July 16, the highest it’s […]
Capacity had been growing steadily throughout Q1 and Q2 on the transpacific lane. As the economy of North America recovered following the worse of the coronavirus pandemic, demand for consumer goods soared causing an increase in traffic along the transpacific lane, thus raising the capacity. The increase in traffic has caused port congestion along the […]
The number of cellular container vessels sold for demolition in the first half of 2021 has plunged with only 15 ships sent to recycling yards for a total of 12,431 teu. This is substantially down from the 51,500 teu for 26 ships sold for demolition in the second half of 2020, and well below the […]
Ocean carriers, non-operating owners, investment banks and lessors have gone ‘all in’ on container ship newbuildings in the first half of this year, signing well over 300 vessel orders at Chinese, Korean and Japanese yards. These new ships will have a combined slot capacity of 2.88 Mteu, or 11.75% of today’s overall container fleet capacity […]
The Asia-Europe trade route has seen an unprecedented level of demand over the past few months following the rebounding of economies from the COVID-19 pandemic. Despite the few difficulties arisen from this demand, capacity remains strong and continues to increase. The rising demand, along with the Suez Canal blockage in March, has caused a worldwide […]