News on Asia.
Covid-19, new sulfur requirements, lower exports to China and the collapse of commodity trader Hin Leong Trading in Singapore made bunker oil trade volumes drop 46 percent in 2020 compared to 2019, writes Reuters.
Asia's coldest winter in decades has upended energy markets across the continent, catching some companies flat-footed and sending prices for electricity, fuel and vessels to record highs.
Cosco and Maersk are the two container lines that could end up with the biggest wins after a new, comprehensive free-trade agreement was signed by a number of countries in Asia and the Pacific region in November, assesses Alphaliner.
Despite the coronavirus pandemic, piracy and crime off the coasts of Asia have increased this year, reports Reuters citing a new report. The coastal regions south of the Philippines are particularly hit hard.
The pressure on rates on the main Asia-North Europe tradelane continues, and the liner companies have thus removed many sailings in the coming ten weeks in an effort to compensate for the development, show new numbers.
Big container ships are starting to replace smaller container ships on the routes between Asia-Europe and Asia-North America. MSC's new 23,700-teu vessels are just the most recent example of a development that will continue, writes Alphaliner.
Container index SCFI increased again after sliding last week. The increase happens despite a setback on routes between the Far East and Europe.
Maersk and MSC, which together form the 2M Alliance, are among the shipping companies opting to extend sailing itineraries on the Asia-Europe string. One alliance makes the opposite choice.
Maersk Line is increasing the number of its ships and reducing port calls on the container routes between Asia and Europe. The new plan will ensure improved punctuality and is not merely a cut-cutting exercise, says a Maersk Line executive
The major liner companies will still have to fight to fill their ships on the key trade route between Asia and Europe, where demand looks set to slide.
Nearing peak season for container shipping, there are particularly concerning signs about the important shipping route, writes Seaintel, which also points out several possibilities for mitigating the situation.
There will be fewer Maersk ships on the route from Asia to North Europe once the fall rolls around, says the liner company in an update.
Thousands of Asian offshore platforms and wells will be decommissioned in coming years and the industry faces a challenge of USD 100 billion, says Wood Mackenzie.
Capacity on Asia-Europe will increase significantly in coming years, with a 13-percent rise in the fourth quarter 2017 alone. Carriers are forced to cancel sailings to avoid tipping the balance, writes SeaIntel. Otherwise they could see an end to the high rates currently experienced by the industry.
The container sector's main tradelane from Asia to North Europe is being serviced by ever-larger vessels. The 2M alliance with Maersk Line and MSC is at the forefront of this trend in which the biggest container vessels are deployed on Asia-Europe, forcing the already large vessels down onto the smaller trades, notes SeaIntel.
Spot rates on the key container tradelane Asia-Europe took a big dive last week, according to a survey from Drewry. The firm expects the rates to keep sliding as there is by now more space available for shippers.
2017 has already been hailed by Maersk Line and several of its biggest competitors as the year in which the miserable results from last year will be replaced by a de-facto turnaround. Things have developed positively so far, Maersk Line's head of Asia and the Pacific tells ShippingWatch.
The 2M alliance between MSC and Maersk Line will, starting April, increase its capacity on Asia-Europe by 25 percent, and the significant volume expansion could trigger rate disruptions, writes analyst firm Alphaliner in its latest newsletter.
The final months of 2016 brought improvements on the routes from Asia to the east coast of South America. But there is still a long way to go in terms of the activity noted on the routes in the past, writes analyst firm Drewry, warning against excessive optimism.
Spot rates on the 11 major East-West routes between Asia and Europe climbed to a 20-month high this week, according to Drewry's World Container Index. Further rate increases are expected in the week to come.
Israeli container carrier Zim is opting out of the TSA – Transpacific Stabilization Agreement – which is the container collaboration on the Pacific.
International container carriers have to a large extent picked up Hanjin Shipping's market shares on the key Asia-US routes. This applies to Maersk Line and MSC's 2M alliance and Chinese Cosco, in particular, according to data from Busan Port Authority.
Major container collaboration Ocean Alliance announced its service network on Thursday, which includes 40 services on the key east-west trades. CMA CGM will contribute 35 percent of the alliance's capacity.
Since 2012, the number of weekly services on the Asia - North Europe route has declined by 36 percent, and customers are having an increasingly difficult time keeping up, notes SeaIntel in a new analysis.
Orders for European shipbuilders increased more than 45 percent in the first eight months of 2016, while Asian yards are hit hard by the lowest number of newbuilding orders in 20 years, notes Bimco.
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