The Dispatch - Issue #37

Quiet week on the freight rate front due to the Chinese New Year break.
Rates had already dropped significantly and may have finally bottomed out, but with traditionally soft demand after CNY, expect more blank sailings and schedule disruption.

As always, for the best current spot pricing, just click below button or hit reply to this message.

Below indices are always lagging on the actual achievable rates, but provide a good record & visual of the situation.

XSI® - C

Report a figure of $1,787 per 40’ container (FEU) dated 25/01/23 (down 1.49% WoW)

FBX

Report a figure of $3,420 per 40’ container (FEU) dated 27/01/23 (up 0% WoW)

News

UK Government forced to pay £400,000 in damages for ship that blocked Suez Canal

The Ever Given was carrying more than £700m of products, including Nike shoes, Lenovo laptops and Ikea furniture but it is unclear what cargo the UK’s health ministry had aboard the ship

inews.co.ukBen Gartside

Carriers refund over $700,000 in charges to US shippers

Shipping lines have refunded more than $700,000 of Demurrage and Detention billings in the US since June last year following complaints by shippers made to the Federal Maritime Commission (FMC) under OSRA 2022.

Seatrade MaritimeBarry Parker

Charted: The Dipping Cost of Shipping

After a dramatic spike during the pandemic, shipping costs have now fallen back to Earth. What does that mean for shippers and the economy?

Visual CapitalistNick Routley

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