Jiss Mathew

TPEB Updates - May 27, 2024 1) MSC and YML have announced their rates in June 1 and the increase is about USD1,000 per container. 2) Equipment shortages are common at most of the ports in China, especially the big ones. We are told that "Extra Handling Fee" needs to be paid to secure the empty. This is an unofficial fee and it'll increase as the market is getting hotter. 3) MSC is still sending out their diamond tier rates. We haven't heard anyone is using them yet. 4) The effect of the potential strike at CN/CP rail is yet to be seen.

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Backhaul demand boosts rates for intra-Asia liners out of India MaritimeContainer Shipping NewsContainer linesInternational ports Bency Mathew, Special Correspondent | May 17, 2024, 10:36 AM EDT Asia-India trades seem to be a sweetener for container lines facing a downward correction in ocean rates after the #RedSea crisis-linked highs they experienced.  India-bound backhaul rates from most Chinese ports, including #Shanghai, #Tianjin, #Yantian, #Ningbo and #Nansha, have seen gains between 30% to 50% on average in the last two to three months, according to an analysis of data obtained by the Journal of Commerce from #freightforwarders.  Rates have also been moving higher for shipments from other Far East hubs to India. The analysis shows carrier quotes out of #HongKong to #NhavaSheva #Mundra gaining approximately 45% since the end of March. Current Singapore-West India prices are up about 30% and 50%, respectively, relative to two months ago.  Local industry observers and carrier executives expect Asian import flows into India to remain buoyant, aided by growing demand for raw materials and semi-finished products needed to support domestic industrial production lines. China has remained India’s top trading partner for some time, with the market heavily tilted toward #Beijing despite #NewDelhi lately refocusing on a “Trade West” policy. The bullish sentiment is driving both regional and mainliners to pump more capacity into the trade lane between India and Asian markets. A butterfly Asia-India-Middle East loop (VGI) that CMA CGM has just opened in partnership with six niche intra-Asia operators -- featuring 11 vessels and 16 ports of call – amplifies the newfound carrier interest.   “The VGI offers competitive transit times to serve the rapid import and export growth of Southeast Asian markets,” the French liner said. #Logistics #SupplyChain #GlobalTrade #Shipping #ImportExport #FreightForwarding #Warehousing #Valexander #InternationalShipping #SupplyChainManagement #CrossBorderTrade #TradeCompliance #MaritimeIndustry #CustomsClearance #GlobalLogistics #Transportation #CargoHandling #LogisticsSolutions #Distribution #GlobalSupplyChain #TradeRoutes #vessels #industryupdates #portchanges #vesselupdates #europe #terminaloperations #logisticsinsights #logisticainternacional #cargo #tradecompliance #regionalupdates

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ONE reports a 65% rise in revenue Ocean Network Express reported a 65% rise in Q2 FY2024 revenue and raised its full-year profit forecast to US$ 3,095m. Ocean Network Express (ONE) has released its financial results for the second quarter of FY2024. For the period from July to September 2024, the company reported revenue of US$ 5,864m, marking a 65% increase compared to the same quarter last year. This resulted in a net profit of US$ 1,999m, a significant year-on-year increase of US$ 1,812m. Jeremy Nixon, CEO of Ocean Network Express, commented on the results: “In addition to the current geopolitical situation, the industry faces added uncertainty around the outcome of the elections in the USA and the US east coast port labour situation. ONE will continue to closely monitor evolving macro conditions and maintain an agile and effective control of its global operations and customer service delivery performance, including a successful launch of the new Premier Alliance E-W network in January.” The company has revised its full-year profit forecast for FY2024, increasing its net profit guidance to US$ 3,095m from the previous estimate of US$ 2,745m announced on 31 July. “The Asia-North America and Asia-Europe trades have experienced strong demand, driven by consistent consumer demand and an early peak season in July and August. Additionally, early shipments in the North American trade are a response to potential supply chain disruptions,” ONE stated. #ONE #AsONEWeCan #Financialresults

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APM Terminals Pipavav Port Establishes New RORO Handling Record and Reachs Milestone in Vehicle Logistics. A substantial increase above the 30 NMG rakes handled in March 2024, the terminal processed 40 NMG (Newly Modified Goods) rakes, enabling the offloading of 3,969 automobiles. 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐛𝐞𝐥𝐨𝐰 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 👇 #article #apm #seaport #terminal #marine #maritime #logistics #shipping #supplychain #transport #roro

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