keo nha cai hom nayNews Highlights week: 41 - 2024

Starting with keo nha cai hom nay 23 October sailing of keo nha cai hom nay 6,400 teu MSC DAMLA ex Haiphong, this port in Vietnam will become keo nha cai hom nay new starting point for MSC’s Asia – West Coast of North America ‘Chinook’ service.

This standalone loop turns in eight weeks with eight 6,400 – 9,400 teu ships. keo nha cai hom nay full revised itinerary reads: Haiphong, Yantian, Shanghai, Qingdao, Busan, Vancouver, Seattle, Portland, Haiphong.

For Haiphong, MSC’s ‘Chinook’ will be a second direct Pacific Northwest connection, adding to keo nha cai hom nay ‘PN3’ service of keo nha cai hom nay Alliance which is operated by vessels of Yang Ming and HMM.

OOCL’s East-West revenues double year-on-year

Orient Overseas Container Lines (OOCL) reported shipping revenues of USD 3.1 bn for keo nha cai hom nay third quarter of keo nha cai hom nay year, up from USD 1.8 bn a year earlier.

keo nha cai hom nay boost was fuelled by a doubling in earnings on keo nha cai hom nay principal East West routes.

Revenue on keo nha cai hom nay transpacific and Asia-Europe reached a collective USD 2.0 bn (3Q23: 1.0 bn) in keo nha cai hom nay July-September period, despite a 16% y-o-y increase in volumes on keo nha cai hom nay transpacific, and an actual 12% decline in liftings from Asia to Europe.

It is OOCL’s best revenue result since keo nha cai hom nay fourth quarter of 2022. Rates have been pushed to their highest levels since keo nha cai hom nay pandemic as western exporters have brought forward holiday shipments and keo nha cai hom nay Red Sea diversions have kept capacity tight.

keo nha cai hom nay figures suggest profits are likely to be strong for carriers when keo nha cai hom nay next financial results are announced in November, though keo nha cai hom nay fourth quarter remains a trickier prospect. Earnings are expected to show a sharp fall in keo nha cai hom nay final quarter with rates already declining rapidly in keo nha cai hom nay latter part of Q3.

US port strike ends sooner than expected

keo nha cai hom nay US dockworkers’ union International Longshoremen’s Association (ILA) and keo nha cai hom nay United States Maritime Alliance (USMX) which regroups employers of keo nha cai hom nay US East and Gulf Coasts port sector, announced late on 3 October that keo nha cai hom nay two parties had found an agreement to end keo nha cai hom nay port strike that had been crippling container ports on keo nha cai hom nay US East and Gulf Coasts since keo nha cai hom nay start of keo nha cai hom nay month.

Both parties have reached an agreement on wages which includes a 61.5% pay rise over a period of six years. ILA was initially asking for a 78% raise and was offered a 50% pay hike by USMX, one day before keo nha cai hom nay strikes kicked off.

A extension of keo nha cai hom nay current labour contract has meanwhile been agreed until 15 January 2025. This will give both parties time to negotiate other outstanding issues, particularly keo nha cai hom nay delicate and important subject of terminal automation.

All ports and terminals affected by keo nha cai hom nay walkout started re-opening late on 3 October. Over fifty container vessels had been queueing off keo nha cai hom nay ports and it is estimated that around three weeks will be needed to clear keo nha cai hom nay backlog, including keo nha cai hom nay dispatch of stranded cargoes.

On 1 October keo nha cai hom nay ILA started what was expected to be keo nha cai hom nay largest port strike in keo nha cai hom nay US since 1977, with 45,000 dockers stopping work and 36 ports - including 15 container ports - being shut down. Carriers had anticipated this crisis, which was expected to be a long one, by putting in place contingency plans and in some cases declaring ‘force majeure’.