testata inforMARE
05 December 2023 - Year XXVII
Independent journal on economy and transport policy
09:52 GMT+1




"Maersk CEO Soren Skou warned yesterday that factories in China were still only operating at 50-60% capacity and a rebound in shipping demand in the coming weeks would depend on a swift economic recovery from the impacts of coronavirus."

There are few signs of a respite for carriers just yet with Drewry's composite World Container Index losing 5.8% this week and is now down 1.9% versus a year earlier.

In the week to 20 February, freight rates to Europe on the key Shanghai-Rotterdam and Shanghai-Genoa lanes fell 9% and 10%, respectively, noted Drewry.

A similar picture is apparent on the trans-Pacific. Freightos reported earlier this week that the coronavirus outbreak "has been profoundly disruptive to the global supply chain, especially for importers heavily reliant on Chinese manufacturing".

It said China-US West Coast prices had lost 8% over the last week to slump to $1,371 per FEU, with rates now 24% lower than at the same point of 2019.

China-US East Coast prices fell 6% to $2,661 per FEU over the week and now trail equivalent pricing in 2019 by 10%.

Cargo scarcity a continued blight

According to Freightos, such is the scarcity of cargo that price cutting is not much of an option for lines given that those vessels that did sail this week reported that up to 90% of capacity was empty.

With demand devastated, carriers are continuing to cut capacity. Skou said Maersk had now cancelled 50 sailings in addition to services that were blanked for Chinese New Year holidays and factory closures in late January.

The strategy is being replicated across the liner sector. According to Alphaliner, carriers have cancelled an unprecedented number of sailings from Asia in the past month.

Mass void sailings the only response

Alphaliner's latest survey of Asia-North Europe liner services revealed that 33 sailings were cancelled in the last four weeks, meaning that 46% of scheduled departures on the route were dropped.

"Further to this, carrier schedules and customer announcements indicate that another 17 sailings are to be blanked in the next four weeks," said the analyst. "Capacity reductions over the eight-week period from Chinese New Year are thus expected to reach about 700,000 TEU."

This compares to post Chinese New Year cuts of just 340,000 TEU in 2019 and 210,000 TEU in 2018.

"A similar situation is observed on the other key outbound routes from China," added Alphaliner. "Capacity reductions on the Asia - Med route will reach about 290,000 TEU, while 680,000 TEU will be removed from the trans-Pacific trade lane's capacity."

While work in China has finally resumed after the extended three week holidays, the container demand recovery has been slow.

"Vessel capacity utilisation therefore remains low, despite the many cancelled sailings," noted Alphaliner.

Backhaul slot shortages likely

"Capacity constraints could however begin to affect the backhaul routes in the coming weeks, as outbound capacity from Europe and the United States will be limited as a result of the current cancelled sailings from Asia."

According to Freightos there is room for optimism. The partial resumption of work and beginnings of production are generating some initial signs of hope, believes CMO Eytan Buchman.

Freightos recorded a 2% uptick in China's share of searches for freight bookings out of Southeast Asia for the first time since the outbreak, indicating that some shippers have - or are - anticipating orders that will be ready soon.

"But aside from areas still officially shutdown, the resumption of work has remained slow even in the cities and provinces that are back from the extended holiday," he added.

"Some factories are waiting to reopen out of fear that the close quarters in factories and dormitories could lead to more infections.

"Only about 10-20% of factories have received permits to reopen so far and though transportation within most provinces is back to normal, travel between provinces is still limited, which will also add to the slow recovery."

China's GDP growth could collapse

With China still in a state of shock, the economic outlook remains bearish.

"China's economy is experiencing the rare case of simultaneous demand and supply shocks," said a note from Nomura.

"Because COVID-19 in China is far worse than SARS in terms of breadth and speed of infections, the 'fear factor' among China's population is palpable, with people shunning crowded places like shopping malls and restaurants, crimping consumption, which contributed nearly three-fifth of China's GDP growth last year.

"On the supply side, the government's draconian controls to contain COVID-19 have blocked transportation and disrupted factory production and probably exacerbated the fear factor.

"[This has all been] made worse by the extended lunar new year holidays, stranding tens of millions of migrant workers at home."

Nomura now expects China's real GDP growth to tumble from 6% in Q4 2019 to between 0.5% and 3% this quarter.

And it warns the damage will spread far beyond Chinese borders: "Do not underestimate the hit to growth in economies outside China, particularly in Asia." .

www.lloydsloadinglist.com - 21/02/2020

European Council of Transport, not addressing the theme of the risk of loss of competitiveness of transhipment ports caused by EU ETS
No response to the concerns expressed by Cyprus, Croatia, Greece, Italy, Malta and Portugal
ACGM confirms no to the constitution of an agency for the provision of temporary port work in Taranto
Following the march back of the AdSP, antitrust will not propose an appeal to the TAR
Maersk will enhance its facilities and logistical activities in Southeast Asia
Planned investment of more than 500 million
In the port of Valletta the first supply to an electric power ship of the ground network
To equip the five quays of the cold ironing terminal, 49.9 million euros have been invested.
Agreement of the Italian Academy of Mercantile-De Wave in the field of shipbuilding
Collaboration for the training of technicians for the supervision and installation of facilities on ships
Anthony Veder-Accelleron agreement for assistance to turbochargers of 13 ships
Agreement based on a fixed fee applied to effective hours of operation
Ellerman seals a slot agreement with MSC related to transatlantic shipping routes
It will enter into force on the first January
AdSP of the Northern Adriatic, the Management Committee approves the third change in budget
Confirmed the adjustment of 25.15% of maritime demanial canons for 2024
Revamped the North East Confectural Steering
Paolo Salvaro confirmed to the presidency, while Manuel Scortegagna was appointed vice president.
GNV starts a new recruiting campaign
The first date on Monday and Tuesday in Naples
Logistics group Public Spinelli publishes its first Sustainability Budget
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
Ok the transfer of the concession of Terminal Ferry Barcelona to the Grimaldi Group
Barcelona / Naples
Deliberation by the Catalan Port Authority after the green light of the antitrust authority
The IMO assembly unanimously confirms the appointment of Velasco as secretary general
The term, lasting four years, will begin next January.
Launched in Ancona the cruise ship Viking Vela
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Port of the Spezia, signed the contract for the realization of the new pier cruises
The Spezia
Expected two benches of the length of 393 and 339 meters
d' Amico International Shipping will become part of the FTSE Italia Mid Cap Index
Includes the 60 companies with the largest market capitalization listed on the MTA and MIV markets of Borsa Italiana
Santi Casciano appointed CEO of the Going Gateway and Reefer Terminal
Go Ligure
Will take office on December 15
Rexi : signed the conventions with 12 interports for more than 11 million intended for completion of the network
The notice for an additional eight million euros will be published shortly.
Saipem has awarded two offshore contracts worth about 1.9 billion
Are related to activities in Guyana and in Brazil
At the port of Spezia it has been facilitated access to LNG-powered merchant ships
The Spezia
The soak of these units is governed by an Ordinance of the Capitanery in Porto
Maersk Group comes out of the capital of Norway's Höegh Autoliners
Sold the last 20 million shares
End the ferry disincite operations Lider Prestij
You will now proceed to check the safety standards of navigation
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
Conference on changes in port logistics
It will be held in the first December in Ravenna
Conference of Uniport on the future of Italian portuality
It will be held on December 5 in Rome
››› Meetings File
Ports cyber hack reveals Australia's 'vulnerability' to attack
(The New Daily)
Economy Minister: Anaklia port project developing “according to plan”, “no delays” in deadlines
››› Press Review File
FORUM of Shipping
and Logistics
Relazione del presidente Mario Mattioli
Roma, 27 ottobre 2023
››› File
Liberated the tanker Central Park
The intervention of the Combined Maritime Force TF 151 made the attackers desisting, forced into surrender
A ship seized in the Gulf of Aden and one hit by a drone in the Indian Ocean
Attacks on the "Central Park" oil tanker and the "CMA CGM Symi" container ship
Gruber Logistics has opened a new branch in France
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The Propeller Club Ports of La Spezia and Marina di Carrara is born
Marina di Carrara
In the association, the number of inscribed members is growing from the apusian port.
Delivery of deliveries to the summit of the Port System of the Straits of the Straits
Mega has recalled the obstacles encountered throughout his tenure
Concluded the authorizing process to build the drawers of the new foranea dam in Genoa to go to Ligure
Initially five will be made that will be placed in defence of the construction site.
Ok of the City Council at the Regulatory Plan of the Marina Port of Carrara
Marina di Carrara
AdSP satisfaction for the green light to the new planning tool expected since 1981
Impala Terminals buy at auction the HES Hartel Tank Terminal in Rotterdam
The construction of the terminal for liquid bulk in the Dutch port will be completed thanks to a further investment
A Implementing Regulation specifies the terms of management of the shipping companies for the EU ETS
It was published today in the Official Journal of the European Union
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