CONTAINER shipping lines continue to add new services to eastbound transpacific trade lanes as record high freight rates and strong demand attract more carry capacity for Asia to North America cargoes, reports London's S&P Global Platts.
Platts assessments for North Asia to West Coast North America rates rose 151 per cent from a year ago to US$7,900 per FEU, while rates from North Asia to East Coast North America climbed 154 per cent to $8,900 per FEU over the same period.
"The biggest change we've seen among carriers is more feeder operators getting into the transpacific market. These are intra-Asia carriers or Chinese domestic carriers and tend to be smaller ships in the 2,000 to 3,000-TEU range coming in as rates have skyrocketed," said a US forwarder.
Asia-to-North America trade lanes largest capacity increased 30.6 per cent year on year in the 12 months to July 2021. Capacity deployed on Europe-to-North America routes increased 21.4 per cent over the same period, while Asia to Europe deployments grew 19.7 per cent.
Only 2.5 per cent of the global fleet of containerships was idle in July 2021, down 11 per cent for the same month a year ago. Only capacity deployed on African services declined over this period, falling 6.5 per cent.
Honolulu shipowner Matson launched its first direct service to Oakland from China. The service will call on the ports of Ningbo and Shanghai in China before stopping at Oakland and Long Beach.
Taiwanese shipping Wan Hai announced the continued direct service from Taipei to the Port of New York and New Jersey with nine vessels in the 2,800 to 4,000 TEU range.
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