The Dispatch - Issue #30
Rates
The tide has seemingly turned on the carrier's gravy train of sky-high rates. With reductions across the board coming in every few days, containers can now be booked at rates from $4500 per FEU.
You can see from the news section below that the carriers will try to stem the bleeding with a raft of blank sailings, but long term I think there are more reductions to come through to CNY.
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 $7,017 per 40’ container (FEU) dated 20/09/22 (down 8.14% WoW)
FBX
Report a figure of $7,278 per 40’ container (FEU) dated 23/09/22 (down 5% WoW)
News
The falling rates are making things look bleak for the new charter entrants in the market, according to
Many within the liner community have been speculating over the past month that the swift change in fortunes, especially on the transpacific, has been engineered by some of the largest liners to expose, and whittle away the presence of new entrants on the key tradelane.
Blank Sailings to be utilised by the carriers to fight back on tumbling rates, according to Container News.
Importers (and freight forwarders) giving some respite by HMRC with an extension to CHIEF shutting its doors at the end of the month.
Sam Chambers
Container News Team
Alex Whiteman
Tweets
To put an end to the rhetoric that eCommerce is dying:
— Matthew Hertz (@mattahertz) September 23, 2022
FedEx's earnings tonight ( $FDX) reveal their Home Delivery segment (i.e. eCommerce) **increased** 3% to 3,912 MM daily pieces.
That's 165K incremental DAILY pieces!
Yes there are headwinds all around, but things are OK!
— MILF 🚛😎 (@freightcaviar) September 20, 2022
The sinking moment of the Sea Eagle in the port of Iskenderun, Turkey... Sept 18, 2022.
— Wall Street Silver (@WallStreetSilv) September 20, 2022
It completely sank right after this.
🔊sound🚨 pic.twitter.com/zixdSpa1xr