As we enter the 3Quarter of 2011 the shipping line industry is facing doom and gloom with rising fuel costs and over capacity on most trade lanes leaves the shipping lines with a problem, however things should start to improve during the last quarter, with Christmas peak season kicking in and leading to a possible increase in ocean freight rates.
It is more than likely that capacity will outstrip demand for the next two to three years, leading to speculation that freight rates will remain at a historically low level for next six months to one year, however the industry will try to push a series of GRI (General Rate Increase) to cover rising costs, probably using “back door” methods such as increases to CAF, BAF and other surcharges.
For more information on Freight Forwarding, Ocean Freight Rates or other Import and Export requirements please call our dedicated team of professional freight forwarders on 02392 75 65 75
Freight rates in the Far East/Europe trade have been falling for the past 6 months or so and are currently 40-50% lower than November 2010. Carriers have tried to increase freight rates in 2011, but the hikes have failed to stick. This is bad news for shipping lines as they enter peak season, traditionally the time of year when demand for shipping space is high resulting in firmer freight rates. The causes are weaker than expected demand linked with new, bigger vessels entering service.
For more information on this, or any other international shipping, freight forwarding, import, export and international trade requirements call our freight forwarding experts on 02392 75 6575
The port of Tyne is undergoing major dredging works to allow ever larger vessels to call at the multi function berth at the Riverside Quay.
The dredging forms part of a major £4 million investment in the port infrastructure.
This will open up the North East port as more and more carriers and Importers use the port for Northern delivery points. Mercator cargo have been using this and other ports in the north of the UK for some time, cutting down on UK haulage prices, with the added benefit of reducing carbon footprint.
The port will now be able to accomodate the larger vessels, upto and including the current largest “Panamax” range.
The move follows the increase in orders from many carriers, such as Maersk who have recently ordered TEN 18000 TEU Vessels for delivery in 2013, they are also expected to take the option to increase the order to a further ten vessels for delivery in 2015-2015. With the possibility to order a further ten in addition.
EMC (Evergreen) has ordered thirty five 8800teu vessels, twenty or so of which are scheduled for completion in 2013.
CMA CGM has increased the capacity of three ships in production from 13800teu to 16000teu.
To discuss this, or any other Import, Export or Container shipping please contact a member of our experienced freight forwarding team on 02392 75 65 75
April 2011 saw Hong Kong Port handle 2,020,000 TEU. This is a 4 per cent increase on April 2010 throughput of 2,000,00 TEU. The port of Singapore registered impressive growth of nearly 6 percent to 2.5 million TEUin April 2011 from 2.4 million in April 2010
Currently the worlds top 10 ports stand as follows (Approx figures based on industry sources)
1- Singapore in 2010 handled around 25.8 MILLION TEU
2 – Shanghai in 2010 handled around 25 MILLION TEU
3 – Hong Kong in 2010 handled around 21 MILLION TEU
4 -Shenzhen in 2010 handled around 18 MILLION TEU
5 -Busan, South Korea in 2010 handled almost 12 MILLION TEU
6 -Guangzhou in 2010 handled just over 11.1 MILLION TEU
7-Dubai UAE in 2010 handled around 11.1 MILLION TEU
8- Ningbo in 2010 handled around 10.5 MILLION TEU
9- Qingdao in 2010 handled around 10.2 MILLION TEU
10- Rotterdam, the only port in EUROPE in the top 10 in 2010 handled around 10 Million TEU
SIX of the top 10 ports in 2010 are located in China, which goes to show the growth and strength of the Chinese economy, Singapore and Shanghai are set to slog it out for the TOP Port of 2011 with Shanghai narrowly leading the race!
For more information on Import, Export, Freight Forwarding and import from any of the TOP 10 ports in the world, and beyond please call our Experts on 02392 75 65 75
10, St George’s Business Centre,
St Georges Square,
Portsmouth, PO1 3EZ, UK
Mercator is a family-run, UK based independent freight forwarder, offering highly effective sea, road and air freight services around the world.
