Can you feel it coming in the air tonight? 🎵
Yep, it’s Phil Collins .. but it’s also global uncertainty.
The Red Sea ceasefire talks have spooked the market, triggering fears of a freight rate collapse. Most are saying to not expect vessels to return to the area this year (at least). Interestingly, ship demolition is down this week.
Carriers are reshuffling China–Europe routes, chasing alternatives. The result? More capacity on new lanes, and yep, you guessed it, more pressure on rates. In Northern Europe, congestion’s mounting. Antwerp is sitting at 96% yard capacity, 112% for reefers. Ships are queuing, and more are en route. Bremerhaven, Rotterdam, Felixstowe, Southampton are all feeling the strain. It could take 3-4 months for things to hopefully stabilise.
Meanwhile, over in China, newbuild orders are on the rise again, and shipyard slots are basically booked out through the end of the decade. If you’re not already in line, you’re likely too late.
Vietnam is smashing trade records with both China and the US (🤔 we saw this one coming…) even as authorities crack down hard on fraud. It’s a reminder that growth and disruption often go hand in hand.
On the East Coast of Australia, vessel bunching is causing delays and changes in port rotations, with several ports being omitted as carriers adjust schedules.
I bet you have more questions than answers right now.
What else is happening out there?
💠 Nokia to deliver private wireless for Maersk ships
💠 HD Hyundai and Maersk partner on green shipping and logistics
💠 A U.S. mariner shortage and the new SHIPS for America Act could complicate Trump’s plans to revive the commercial shipping fleet
💠 Israeli key air cargo gateway hit by missile attack, and Houthis warn of more
💠 US loses another $93m fighter jet into Red Sea
💠 Houthis say U.S. ceasefire deal doesn’t cover Israel
💠 Canada takes legal steps to seize Russian Antonov AN-124 (Heavy transport aircraft)
💠 DP World opens its first Singapore warehouse
💠 The planning to rebuild the Leeuwin II commences
💠 Jafza Marks 40 Years and $30B Investment as Key Dubai Trade Hub
💠 Expeditors sees strong growth amid tariff turmoil
💠 DP World to open Port of Melbourne container park
💠 Cosco inks orders for 32 vessels worth $4.8bn in just one week
💠 Aurizon Australia warns of job cuts amid potential earnings hit
💠 Mediterranean Sulfur Emission Limits Now in Effect
💠 Qantas launches direct Perth-Johannesburg and Perth-Auckland routes
I’m sure I’ve missed something! Please comment below.
Did you know you can catch my weekly wrap-up over at DCN – Daily Cargo News? The clever crew there have dubbed it the Bradfield Bulletin (not my idea, I swear!). Check out last week’s edition (and yep, there’s a big ol’ photo of my face too)
Check out the MSC Heidi being manoeuvred alongside at DP World this week.
Have a great weekend everyone and don’t forget it’s Mother’s Day on Sunday. 🌸
