THIS week was another reminder that the freight and logistics industry is never dull. Hope you manage to get through Friday unscathed, and without an importer being upset that their cargo is delayed… again.
Globally, container markets remain firm, with the Drewry World Container Index rising 4% this week, its second consecutive weekly increase. Tighter capacity and resilient demand continue to support the market, particularly across the Transpacific trade, while the Asia-Europe market is softer.
Four carriers have now introduced Panama Canal Adjustment Surcharges as draft restrictions reduce vessel capacity. Drewry says shippers are being given little transparency on what the surcharges actually cover, while further restrictions could follow as El Niño impacts water levels.
We’re now mid-month, and locally the freight rate increases we’ve seen through August have largely been implemented. The big question now is what carriers will do for September, with plenty of chatter that space is still tight on the North East Asia and South East Asia trades into Australia.
Transhipment hubs are still struggling to clear backlogs, while on the landside we’re seeing vessels bunching and changes to port rotations as carriers work to get back into their scheduled windows.
Also, a 24hr warning strike hit six major German ports this week as Germany’s ver.di union and port employers continue wage negotiations. The action disrupted container handling and wider port operations across Hamburg, Bremerhaven, Bremen, Wilhelmshaven, Emden and Brake, with further industrial action possible if negotiations fail to progress.
There were plenty of news this week, here are just some headlines...
There were plenty of ships alongside Fremantle Ports this week, but today’s photo is of the MSC Sasha. At 300m long and 48m wide, she’s an impressive sight alongside the wharf. This photo was taken while she was in the shared space between Patrick and DP World, hence the different coloured cranes in the background.
Have a great weekend everyone!