Shipping market information sharing-June to July

    Time of issue: 1 July, 2021

    Since the epidemic situation, the global shipping market is experiencing waves of shocks, the rules in black
    and white, has long been unable to catch up with the soaring freight rates, vessel congestion and other
    actual changes.Let us, AICON, share with you the current shipping market information!

    1)Changrong Shipping recently issued a notice after the stranding accident and was detained for more than
    3 months. The owner of the Ever (Long Give) ship and the Suez Canal Authority have finally agreed on
    compensation for the huge vessel, which carries nearly 20,000 TEUs, which is about to be lifted and set sail
    for the European port of discharge.

    2)At present, the worldwide shipping industry charter fees, freight rates remain high, the world’s major ports
    have also been serious congestion, delays intensified, there are currently 101 ports have reported congestion.
    As of June 18, there are 304 ships waiting for berths in ports around the world.

    3) Maersk, the world’s largest container ship operator, said it had lost 20 per cent of its capacity to and from
    Asia so far this year; it is expected to lose another 13 per cent from June to the end of August; and the impact
    was much greater than the negative impact of giant cargo ships blocking the Suez Canal in March.

    4) Congestion in Recent Nordic Ports Is Becoming More And More Serious, With Major Ports Such As
    RotterDam, Hamburg, Antwerp And Liverpool Experiencing Severe Congestion And Even Spreading To Inland
    Shipping LaneS, Causing Shipping Companies To Arrange To Jump Or Change Part Of Their Voyage.

    5) As the peak season approaches, the situation for shippers heading to Europe and the United States looks
    set to get worse. They will need to be prepared for a new round of FAK and GRI price increases from July 1st,
    as well as another payment increase from mid-July, as well as thousands of dollars in PSS (peak season surcharges).

    6)The Turkish government has announced the construction of the Istanbul Canal, a $15 billion project that is
    expected to take six years to achieve, easing shipping pressures in the Bosphorus strait and turning the country
    into a logistics powerhouse.

    7)(CMA CGM) chief executive Rodolphe Saade recently apologised for the poor quality of container service
    and predicted a nine-month hiatus before the industry returned to normal. Although liner companies have done
    their best to address the problem, the congested supply chain is likely to continue until at least the first quarter
    of next year.

    To get more shipping market information, please send emails to promotion@iaicon.com.

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