Container freight rates fall to 2019 levels while costs remain high
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Background
In January 2010 BIMCO initiated a project to develop slow steaming clauses for use in time and voyage charter parties. While work on the voyage charter party clause is still on-going, the clause for time charter parties was adopted by BIMCO’s Documentary Committee at its meeting in Copenhagen in Nov... Please follow the link to continue reading.
Explanatory notes
Clauses for voyage and time charter parties, originally developed in 2004 in response to US Customs’ requirements for the advance submission of cargo manifest information, were reissued in 2010 to reflect the introduction of parallel arrangements in Canada. However, further changes have now been ma... Please follow the link to continue reading.
Supply/demand
Head-haul and regional trade volumes fell 4.9% y/y during the first half of 2023, 8.0% in the first quarter and 2% in the second. We forecast volume growth of 6.1% y/y during the second half as we do not expect that the markets will see the same unseasonably strong decline as in 2022. Full year volu... Please follow the link to continue reading.
Turkey - Trading restrictions
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Supply/demand
So far this year, the fleet and market demand has developed in line with our previous expectations. Recently, time charter rates and freight rates for Chinese exports have, however, shown some upward momentum that we did not expect. The Shanghai Containerized Freight Index (SCFI) covering export spo... Please follow the link to continue reading.
Egypt, Alexandria - ETA
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Ships above 12,000 TEU drive 100% increase in average ship size
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Supply
Our forecast for fleet growth in 2023 has been adjusted downwards as it appears that more ships planned for delivery in 2023 than expected have been delayed until 2024. In addition, recycling has progressed more slowly than we expected. We now forecast fleet growth of 7.0% in 2023. On the other han... Please follow the link to continue reading.
Finland, Oulu - Infrastructure
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