Never a dull day in global supply chains.
I want to share these three stories with you – as I think the relate well to the different things happening in the world right now… let alone the Suez Canal may not bring you the easing of mind your hoped for with increase maritime security issues in Arabian and Red Sea.
Get me out of here…
Yang Ming Marine Transport Corp. is the latest carrier to announce action taken as the squeeze on transits offered via Canal de Panamá from the Far East to the US East and Gulf Coasts get more severe. Soon down to 50% of normal capacity in terms of transits, with a reduction of 6 feet on draft that limits the cargo carrying capacity of any ship on top of it.
Re-routing all of its three services that used to transit the Panama Canal, began in late November. All, of Yang Ming’s five Asia-USEC services will now go via Suez Canal. This notably includes the EC6, that calls Houston, TX and Mobile, AL on the US Gulf Coast. The remaining four services only call Atlantic Coastline ports. Extended transit times, less efficient supply chains and more costly voyages follows in the wake of this.
Far East fronthauls – a key battleground for carriers to protect profitability.
Firstly, let’s take a look at spot rates from the Far East into the Mediterranean, which fell by 45.9% between 31 December 2022 and 1 December 2023 to stand at USD 1 826 per FEU. This is the biggest decline in spot rates on the Far East fronthauls.
We also saw a significant decrease in spot rates on the Far East to North Europe trade, which fell by 35.8% during the same period.
FULL analysis: https://www.xeneta.com/blog/container-rates-week49-spot-rates-far-east-december-2023
CEI | Far East to US West Coast
The previous three weekly updates on the Xeneta and Marine Benchmark Carbon Emissions Index (CEI) have focused on trades which have seen declining performance in Q3, but this time around we have a more positive outlook to share.
The CEI ranks carriers by their carbon emissions, with lower scores representing better performance in this regard.
The Far East to US West Coast trade lane registered a CEI score of 79.3 in Q3, which is an improvement of 3.2 points on Q2.
WHO’S the TOP performer?https://www.xeneta.com/blog/cei-carbon-emission-carrier-ranking-far-east-to-the-us-west-coast-december-2023
