Asia-Europe Review & Outlook
Special Report
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( FAK ) rates from Nov . 1 in a move to capitalize on any rising demand and finish the year strongly . The increases are led by Mediterranean Shipping Co ., which is setting its rate at $ 5,000 per FEU . Maersk has told customers there will be a rate increase from Nov . 4 , but did not provide a figure . Hapag-Lloyd , however , is setting its rate at $ 2,500 per FEU , lower than the current market .
Weather-related congestion that has been disrupting ports at both ends of the Asia – North Europe trade will aid carrier attempts to raise rate levels .
Asia – Europe spot rates plummet from summer peak
Container spot rates from Asia to N . Europe and Mediterranean , in USD per FEU
USD per FEU
$ 9,786
$ 8,000
$ 6,000 $ 10,000 $ 4,000
L
“ Blank sailings will limit capacity , and the Chinese New Year peak will be earlier .”
$ 2,000
$ 0 L Jan 2023
Jul Jan 2024
Jul Sep , 2024 North Asia to UK Continent North Asia to Mediterranean
Source : Platts , S & P Global © 2024 S & P Global
Kuehne + Nagel ’ s visibility platform , SeaExplorer , reported average waiting time at Hamburg was 1.17 days in mid-October , but yard utilization was at 102 % with the German port limiting empty returns for all carriers . Labor shortages at night and on weekends are adding to delays .
Across the English Channel in Felixstowe , SeaExplorer is reporting heavy disruption at the UK ’ s largest container hub and noted that operator Hutchison Ports has threatened to close its gates to empties if stock levels are not reduced below 5,000 TEUs .
Typhoons Bebinca and Pulasan caused vessel bunching at major ports in Asia , with the average waiting time in Shanghai in the seven days ended Oct . 15 at 2.61 days , according to SeaExplorer . Heavy berth congestion at the port ’ s Waigaoqiao terminals was causing three-day delays while the larger Yangshan terminals were facing waiting times of up to two days .
email : greg . knowler @ spglobal . com
Container lines increasing Asia – Europe capacity , blank sailings
Asia– North Europe container ship capacity , deployed and blanked , with forecast
TEU capacity
1M
629.1k -400k 500k
0
-500k L Jan 2023 Jul Jan 2024 Jul
Notes : As of Sept . 20 , 2024 Source : eeSea
Actual capacity Expected capacity Blanked capacity
Sep , 2024
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