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  Ocean Carrier Rate Revision Roundup for April 18, 2014

Several carriers have planned general rate increases in April and May, although any gains achieved could be temporary as overcapacity and sluggish global demand continue.

According to Drewry, slow-steaming and layups allowed carriers to limit effective capacity growth to 22 percent since 2008, despite introduction of larger ships. Without those measures, capacity would have grown 40 percent, Drewry said.

 

Rate competition is expected to intensify in coming months, as the launch of the P3 Network could lead to cargo shifts between alliances and carriers, according to Alphaliner. While general rate increases achieving 75 percent of the intended increase are regarded as acceptable by the carriers, industry observers say even that will be difficult to sustain. Freight volatility is expected to remain a driving force in 2014, according to SeaIntel.

 

Asia-Europe

Maersk Line plans to increase rates on its service from Asia, excluding Japan, to Europe, excluding Syria, by $550 per 20-foot container and $1,100 per 40-foot, 40-foot high-cube and 45-foot high-cube container, effective May 1. For shipments to Syria, the hike will be €425 per 20-foot container and €850 per 40-foot, 40-foot high-cube and 45-foot high-cube container.

 

On the same date, CMA CGM intends to hike rates on cargo from Asia to North Europe, the Mediterranean, Adriatic, Black Sea and North Africa by $500 per TEU. For shipments to Syria, the hike will be €385 per TEU.

 

In the opposite direction, Maersk hopes to boost rates on shipments from North Europe to the Middle East and the Indian subcontinent by $200 per 20-foot, 40-foot, 40-foot high-cube and 45-foot high-cube container, effective May 1.

 

By August, total weekly capacity in the Asia-North Europe trade is expected to grow 6.4 percent, according to Alphaliner.

 

Asia-Africa

Two container lines have planned rate hikes for May 1:

  • Maersk intends to raise rates on cargo from the Middle East and the Indian subcontinent to West Africa by $150 per 20-foot container and $300 per 40-foot, 40-foot high-cube and 45-foot high-cube container.
  • CMA CGM has scheduled a rate hike on its trade from the United Arab Emirates to Zanzibar, Tanzania, by $250 per TEU, and to Mombasa, Kenya, and Dar Es Salaam, Tanzania, by $125 per TEU.

Maersk has delayed the effective date of its rate hike on shipments from West and Central Asia to Djibouti, Ethiopia and Sudan from April 15 to May 1. The hike will remain the same: for shipments to Djibouti and Ethiopia, the increase will be $100 per 20-foot container and $200 per 40-foot and 40-foot high-cube container, and for shipments to Sudan, the hike will be €75 per 20-foot container and €150 per 40-foot and 40-foot high-cube container.

 

Asia-Latin America

Three carriers have planned rate increases for May 15:

  • Maersk has scheduled a rate hike of $700 per 20-foot container and $1,000 per 40-foot and 40-foot high-cube container on its trade from the Far East to the Caribbean.
  • Maersk also has planned a rate increase on cargo from Asia to Mexico, South America’s west coast and Central America. The hike will be $700 per 20-foot container and $1,400 per 40-foot and 40-foot high-cube container.
  • Similarly, Hapag-Lloyd aims to boost rates on its trade from Asia to Mexico, the west coast of Central America and the east and west coasts of South America by $700 per TEU.
  • Hapag-Lloyd additionally intends to raise rates on shipments from Asia to Panama, the Caribbean and the east coast of Central America by $700 per 20-foot container and $1,000 per 40-foot container.
  • Mediterranean Shipping aims to hike rates on cargo from Asia to Panama; the Caribbean; the east coast of Central America; Venezuela; and Cartagena, Colombia, by $700 per 20-foot container and $1,000 per 40-foot container.

Asia-Australia

Three carriers intend to boost rates on May 15 by $500 per TEU:

  • Hapag-Lloyd plans to raise rates on cargo from northeast Asia to Australia.
  • MSC hopes to increase rates on shipments on its Panda and Wallaby services from the Far East to Australia.
  • Hamburg Süd intends to boost rates on its southbound trade from Hong Kong, South Korea, China and Taiwan to Australia.

Intra-Asia

Starting May 1, CMA CGM plans to boost rates on shipments from Asia to Jeddah, Saudi Arabia; Ain Sukhna, Egypt; Aqaba, Jordan; Djibouti; Port Sudan; and Aden and Hodeidah, Yemen.

 

CMA CGM hopes to implement a two-stage rate increase on its trade from Asia, excluding Japan, to Sri Lanka, Pakistan and west India. Effective May 1 and May 15, both hikes will be $150 per 20-foot container and $200 per 40-foot container.

 

The carrier has planned another two-stage rate hike for shipments from Asia to Persian Gulf ports. Effective May 1 and May 15, the increase will be $300 per TEU.


Source
: The Journal of Commerce
Date: 04/22/2014
 
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