Shanghai Shipping News

China's ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country's coronavirus lockdown as the global spread of the virus chokes off international demand.With Beijing reporting only sporadic domestic transmission of the coronavirus since March, workers have been allowed to return to posts, factories are restarting and ports are rushing to clear a backlog of cargoes.But with virus outbreaks now overwhelming healthcare systems and shutting logistics channels in other major economies…

Chinese shipping index organization Shanghai Shipping Exchange (SSE) and  shipping management software provider CargoSmart have signed a memorandum of cooperation (MoC) to develop a new shipping index for ocean carrier schedule reliability.Both parties will work together to create a new methodology to calculate schedule reliability for key trade lanes to help shippers optimize their supply chains and for the industry as a whole to improve service quality.SSE has been playing a significant role in providing up-to-date and accurate shipping information for the global shipping market, including publishing the China Containerized Freight…

The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea. It appears that the strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, is working. As most shipping volumes that Hanjin Shipping lost have passed to Maersk and Mediterranean Shipping Company (MSC), all South Korea, which once considered itself as a global leader in the shipping industry, can do is watch “a feast of winners” caused by the rise in shipping charges. Container spot costs skyrocketed once right after Hanjin Shipping filed for court receivership.

Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court receivership on Wednesday after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels. Banks led by state-run Korea Development Bank (KDB) withdrew backing for the world's seventh-largest container carrier on Tuesday, saying a funding plan by its parent group was inadequate to tackle debt that stood at 5.6 trillion won ($5 billion) at the end of 2015. Hanjin Shipping, South Korea's biggest shipping firm…

Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed. Freight rates from Asia to the U.S. Freight rates from Asia to the U.S. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent.

Container spot freight rates from Asia to Northern Europe fell 23.5 percent to $861 per twenty-foot equivalent units (TEU), data from the Shanghai Shipping Exchange showed. Freight rates from Asia to ports in the Mediterranean fell 13.8 percent to $865 per TEU. Freight rates from Asia to the U.S. West Coast fell 3.4 percent to $1,277 per forty-foot equivalent unit (FEU) Freight rates from Asia to the U.S. East Coast fell 3.8 percent to $1,884 per FEU. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe. Reporting by Ole Mikkelsen

The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year, which disrupts most trade figures for the first months of any year. BIMCO’s own data for the United States (US) imports on the east coast shows an increase of 6.5%, a significant rise even above the strong level seen in 2015. The west coast imports of loaded containers are only impressive in comparison with the very poor volumes seen in 2015. These were impacted heavily by the conflict between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) which clogged up the main ports.

The latest Container Shipping Forecaster from Maritime Strategies International reports ‘flickers of improvement’ in February after an opening to the year which saw 1.3m teu of capacity idle, freight rates struggling and the charter market on its knees. Having suffered a torrid end to 2015, liner companies finally managed to produce some upwards movement in freight rates, albeit as a result of the slower erosion of the massive General Rate Increase imposed on January 1. As of mid-February freight rates on the China-North Europe route were assessed at $431/TEU by the Shanghai Shipping Exchange, a level suggesting little positive momentum.

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages. Its plans in China, outlined in filings there, include handling cargo and customs for goods headed to ports in Japan, Europe and the United States. Some analysts say the move could help position Amazon to offer shipping services to other companies, eventually competing with the likes of United Parcel Service Inc and DHL Worldwide Express BV. That would mirror the strategy of Amazon's cloud computing arm, Amazon Web Services, which is now the company's fastest growing unit. The service was launched to serve Amazon's own retail operations but now hosts data for other companies.

Rates for shipping containers from ports in Asia to Northern Europe fell by 24.4 percent to $932 per 20-foot container (TEU) in the week to Friday, a London-based container derivative trader with access to data from Shanghai Shipping Exchange told Reuters. The spot freight rates for transporting containers, carrying anything from flat-screen TVs to sportswear from Asia to Northern Europe, has been on loss making levels several times during 2015. No relief for shipping companies is seen in 2016. "Insufficient measures to reduce ship capacity will lead to an acceleration of freight rate reductions and industry-wide losses in 2016," shipping consultancy Drewry wrote in a research note.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 156 percent to $703 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Shipping Exchange told Reuters. The rise came after shipping companies implemented scheduled rate hikes on the world's busiest route and after rates dropped 50 percent last week. In the week to Friday, container freight rates dropped 25 percent from Asia to ports in the Mediterranean, fell 6.4 percent to ports on the U.S. West Coast and were down 7.3 percent to ports on the U.S. East Coast. Maersk Line, the global market leader with more than 600 container vessels and part of Danish oil and shipping group A.P.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 50.4 percent to $275 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Shipping Exchange told Reuters. The drop came after spot freight rates on the world's busiest route soared 88 percent last week as shipping companies implemented scheduled rate hikes with effect from Dec 1. In the week to Friday, container freight rates rose 24.6 percent from Asia to ports in the Mediterranean, fell 4.8 percent to ports on the U.S. West Coast and were down 4.4 percent to ports on the U.S. East Coast. Maersk Line, the global market leader with more than 600 container vessels and part of Danish oil and shipping group A.P.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 31.8 percent to $674 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Shipping Exchange told Reuters. The drop came after spot freight rates on the world's busiest route soared 328 percent last week as shipping companies implemented scheduled rate hikes with effect from Nov 1. In the week to Friday, container freight rates fell 19.7 percent from Asia to ports in the Mediterranean, fell 19.1 percent to ports on the U.S. West Coast and were down 14.4 percent to ports on the U.S. East Coast. Maersk Line, the global market leader with more than 600 container vessels and part of Danish oil and shipping group A.P.

Container shipping demand at lowest since 2008 crisis; additional capacity supply far outstrips demand. Shipping and oil conglomerate A.P. Moller-Maersk said on Friday third-quarter profit almost halved and global demand for container transportation this year would grow at a slower pace than previously expected. The Danish company, which operates the largest container shipping business in the world, kept a reduced forecast made two weeks ago for a 2015 underlying profit of $3.4 billion, down from the $4.0 billion previously expected. Maersk has taken a double hit to its businesses -- its oil units have floundered as crude prices halved since last year, while low trade volumes and an overcapacity of vessels have weighed on Maersk Line, the container shipping business.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 29 percent to $763 per 20-foot container (TEU) this week data from the Shanghai Shipping Exchange showed. It was the second consecutive week with rises of more than 25 percent for spot rates on the world's busiest route but with a combined increase of $294 it is far from the earlier announced hike by all major container shipping companies of $1,000. Freight rates on the route have tanked this year due to overcapacity in vessels and sluggish demand for goods to be transported. Spot rates generally deemed profitable for shipping companies on the route are at about $800-$1,000 per TEU.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Shipping Exchange showed. The rise in spot freight rates came after all major container shipping lines implemented a price hike announced earlier. Freight rates on the world's busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand for goods to be transported. Rates generally deemed profitable for shipping companies on the route are at about $800-$1,000 per TEU. Maersk Line, the global market leader with more than 600 container vessels and part of Danish oil and shipping group A.P.

Asia to Northern Europe shipping freight rates for transporting containers jumped by 177.3 percent to $1.109 per 20-foot container (TEU) in the week ended on Friday, reports Reuters, quoting data from the Shanghai Shipping Exchange. As all major container shipping lines implemented a price hike announced earlier, the  freight rates rose nearly three-fold. Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand in goods to be transported. Rates generally deemed profitable for shipping companies on the route are at about $800-$1,000 per TEU. Maersk Line attempted to lift freight rates by $1,000 from Aug. 1.  It controls around one fifth of all transported containers from Asia to Europe.

Shanghai Shipping Exchange launched on Wednesday the "Belt and Road" shipping indices, tracking trade data and shipping freight rates under the initiatives of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, reported China Securities Journal. The indices, with January 2015 used as the base period, will be released on the last Monday of every month. The Belt and Road Freight Trade Index (SRFTI), is designed to track the volume and value of international trade between China and 66 countries along the Belt and Road, which are in Asia, North Africa, Europe, and Oceania, a statement of SSE said. The Maritime Silk Road Freight Index (MSRFI), tracks the shipping freight rates of imported and exported containerised cargoes, imported dry bulk cargoes, and imported crude oil.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Feb. 9, and indicated that it will follow with a second $600 per FEU increase on March 9. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand through the typically slower winter season and heading into the Lunar Yew Year holidays. The recommended freight rates hike correspond to an increase of respectively 30.3 pct. and 23.3 pct. Members of TSA include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P.

Federal Maritime Commissioners Richard A. Lidinsky, Jr. and William P. Doyle met with transportation officials from China on January 14, 2015 in Washington, D.C. Members of the delegation included Professor Yu Shicheng, Chairman of the Shanghai Maritime University Council and Director of the Shanghai International Shipping Institute (SISI); Wang Jianmin, Vice President of the Shanghai Shipping Exchange (SSE); Chen Jihong, Associate Professor at the Shanghai Maritime University (SMU); Luo Kai, a researcher at the China Academy of Transportation Sciences (CATS). Accompanying the visitors was Dr.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per FEU peak season surcharge ahead of the Chinese Lunar New Year, with effect from Jan. 15. Its members include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned increase was part of an ongoing effort by members to reverse a decline in spot rates in the Asia-U.S. freight market. The organisation also said container shipping companies should reinstate a $400 per FEU peak season surcharge ahead of the Chinese Lunar New Year, with effect from Jan. 15.

A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. TSA (Transpacific Stabilization Agreement) said the planned increase follows strong cargo demand and high vessel utilization levels in recent months, which forward bookings suggest will continue through September. Its members include 15 of the world's biggest container shipping lines such as Denmark's Maersk Line, a unit of A.P.