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.

Exposed carriers struggling to pay sky-high charter rates - Splash247

The abrupt plummet in boxship charter rates is making plenty of headlines, with warnings that some carriers are struggling to keep up with their rental payments for ships signed earlier at sky-high prices. Classic panamax tonnage has been fixed in recent days at rates of $40,000 and $50,000 for peri…

Splash247Sam Chambers

Sea-Intelligence reports ramp up in Golden Week capacity reductions - Container News

However, for much of 2020 and 2021, ocean carriers have struggled to maintain capacity in line with the stresses of demand.

Container NewsContainer News Team

UK’s HMRC extends CHIEF use for companies unable to switch to CDS - The Loadstar

HMRC will continue running its existing customs system beyond the 30 September deadline it had set itself, amid difficulties migrating traders to its new system.

The LoadstarAlex Whiteman

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