SOMEONE needs to hear this, there are only 13 days left until the big day! If you’re anything like me, you’ve probably been racing around trying to start (or finish!) your Christmas shopping. And hopefully you haven’t wandered into Mecca only to walk out wondering how you just spent $41 on a lip gloss. Geez, it had better be glossy!
As the big day (and those public holidays) get closer, here’s your friendly reminder to double check container free time, terminal hours, and who’s actually open over the break. Everything feels a bit chaotic right now, and just when you think you might have a handle on it, along come the 1 Jan GRI notices. Hard to tell if carriers are testing the waters or trying to start the new year with a bang.
Export volumes remain strong, but on the import side we’re still seeing scheduling hiccups and delays. Over here in the west, Singapore transhipment delays are adding to the fun. At this rate, unpacking containers on Christmas Eve might be unavoidable for some.
Globally on the rate front… the market is pulling in two directions. The Drewry World Container Index rose 2% this week, driven mostly by Asia–Europe, where rates have climbed for four weeks on strong December demand and early Lunar New Year bookings.
Meanwhile, Transpacific rates are sliding again as post Christmas volumes dry up and carriers struggle to fill ships despite more blank sailings. Shanghai-LA and Shanghai-New York both fell this week, with more cancellations coming.
What else is happening out there?
Today’s picture is of the COSCO Philippines arriving in the Inner Harbour earlier this week. She replaces the CMA CGM Baalbeck, which phased out on the last rotation. At 334m in length and 43m wide. She’s a big visitor for Fremantle, not far off Australia’s largest at around 350m. Built by Hyundai Heavy Industries in 2010, she’s an impressive sight. I couldn’t track down her capacity without falling into an internet rabbit hole… can anyone help?
Have a great weekend everyone!