• 2020 April 23 17:37

    East/West head haul capacity down 17% Y/Y in May; global trade capacity for H1 2020 already cut by 12.9% Y/Y - eeSea

    New analysis conducted by maritime intelligence company eeSea has revealed the extent of the impact of COVID-19 on global container shipping capacity.

    According to the latest data - updated daily - a total of 302 of 2,693 sailings, or 11%, have been cancelled in May on all the main line trades.

    In the first six months of 2020, a total of 1,675 sailings have been cancelled, or 11%; which comes out at 13% for 2M, 17% for Ocean Alliance and 17% for THE Alliance, while only 8% of non-alliance sailings have been cancelled.

    However, the number of sailings alone only tells part of the story. Commenting on the numbers, Simon Sundboell, CEO and Founder of eeSea, said:

    “Understandably, ‘blank sailings’ are the talk of the town among container shipping and supply chain professionals these days. But to truly understand the impact, you need to look beyond the daily trickle of carrier advisories and the number of cancelled sailings. Instead, you need to look at the reduction of container shipping capacity and the pattern that is forming for the weeks and months ahead.”

    eeSea produces these numbers globally, for all trades, services and carriers, down to a daily port departure level.

    Says Simon Sundboell: “If I were a shipper in Asia or a buyer in Europe, this is the number that is critical to my business, including whether my shipments could be at risk; and how to plan contingencies.”

    The other benchmark head haul trade, Far East to Europe westbound, shows similar capacity reductions. Details are outlined in the appendix below; of note, however, is that in June Ocean Alliance will overtake 2M as the largest alliance on the trade lane for the first time since Oct 2019.

    Carriers and ports are likewise offered these numbers for benchmarking purposes.

    “A lot is happening these days, and it can be hard to keep a tab on it. This is why we at eeSea track it all in real-time. We map blanked - or ‘void’ - sailings, as well as discontinued and suspended services, as soon as the announcements are made. Sometimes announcements aren't made, so we also track the carriers’ schedules frequently and discover unannounced blank sailings.”
     
    Per April 22, the status on the major trade routes is as follows:

    FAR EAST - EUROPE HEAD HAUL (Med + Northern Europe)

    • Far East to Europe westbound will see 14% of sailings, or 18 of 127 sailings, cancelled in April. This corresponds to a capacity reduction of 12%.
    • This is down from 36% cancelled sailings in February, and 21% in March. Currently, 19% of sailings in May are already announced as cancelled, and 12% in June.
    • THE Alliance has cancelled 22% of their April FEA-EUR sailings, and already cancelled a whopping 32% in May and 34% in June. 2M and Ocean Alliance are at respectively 12% and 10% in April, and 16% and 12% in May. However, it should be noted that Ocean Alliance cancelled 40% and 30% of FEA-EUR sailings in February and March.
    • Over the six-month period from January to June, the alliances have cancelled 18% of FEA-EUR sailings, with Ocean Alliance at 17%, THE Alliance at 23% and 2M at 14%.
    • With the currently announced capacity reductions, 2M will drop below Ocean Alliance in actual deployed capacity in June for the first time since Oct 2019.
    • For the first half of 2020, the current announced reductions amount to a 17% YoY drop in deployed capacity, from 11.2m in 2019 H1 to 9.5m TEU in 2020 H1.

    FAR EAST - NORTH AMERICA HEAD HAUL (East + West coasts, inc. Suez service)

    • Transpacific eastbound will see 234 of 249 sailings, or 14%, cancelled in April. This corresponds to a reduction in capacity of 13%.
    • This is still down from the 28% cancelled sailings in February. March saw 9% cancelled, and currently 20% of sailings in May are announced cancelled, and 15% in June.
    • THE Alliance has cancelled 19% of sailings on Transpacific eastbound in April. 2M and Ocean Alliance are at 16% and 11%, respectively.
    • However, over the six-month period from January to June, the 2M, Ocean and THE alliances have cancelled 18%, 12% and 19% of sailings respectively.
    • For the first half of 2020, the current announced reductions amount to a 16.5% YoY drop in deployed capacity, from 12.4m in 2019 H1 to 10.7m TEU in 2020 H1.

    Accounting for variations in vessel capacities between services, as well as taking into account entirely ceased services (beyond blanked voyages and temporarily suspended services), the resulting reductions in capacity offers a similar picture. However, the critical information is in the detail.

    On, for example, the Far East - North America eastbound head haul (including Suez services), the actual deployed vs proforma capacity ratio, after blanks and suspensions, for May is 80% - almost as big a reduction as the February ratio of 71%. YoY (Year-on-Year), including discontinued services, the reduction in May is 21%.

    About eeSea
    Founded in 2015 and headquartered in Copenhagen, eeSea is a maritime and supply chain intelligence company, offering unbiased visibility and predictive analysis for the global container shipping industry.


2024 March 28

18:05 Jan De Nul, ENGIE and Equans launch a pilot project centred around the use of Vanadium Redox Flow batteries
17:35 Latvian port equipment manufacturer Bleste introduces new bulk handling ‘bucket’
17:05 Investors upgrade Navios Maritime Partners
16:25 DEME reports 22% increase in the orderbook and a record-high turnover of 3.3 billion euros in 2023
16:14 MABUX: Bunker Outlook, Week 13, 2024
15:41 AD Ports Group announced the opening of Saadiyat Marina & Ferry Terminal and Rabdan Marina
15:11 Sydney invests $11.5 million in two new operational vessels designed by Incat Crowther
14:55 China’s Jinzhao wins Peru $405m port construction contract
14:13 APM Terminals Moín handled six million TEU
13:48 ClassNK grants Innovation Endorsements for Products & Solutions to two innovative initiatives by MOL
13:37 Konecranes launches its flagship Konecranes X-series industrial crane
12:53 United European Car Carriers UECC spearheads collaboration with industry leaders to advance CNSL as a sustainable marine fuel
12:26 Ocean Network Express announces Transpacific service
11:48 Yang Ming announces 2025 Trans-Pacific service network
11:24 Fincantieri signs contract for the supply of two PPAs to Indonesia
10:42 Maersk transported more than 660,000 TEU using clean fuel in 2023
10:23 Documentation delays push industry costs to $3bn
09:48 PONANT and FARWIND Energy partner to develop green hydrogen refueling solutions

2024 March 27

18:22 Bureau Veritas awards world’s first prototype certification for SolarDuck’s floating offshore solar solution
17:58 The recently converted Allseas's shallow water pipelay barge starts preparations for its first commercial project
17:38 The Port of Rotterdam calls on the European Commission and Parliament to focus on actively promoting green energy
15:23 SEFE to become sole shareholder of WIGA
14:53 Ocean Installer secures yet another SLM contract with Equinor
14:23 Cadeler signs offshore wind turbine installation contract for the vessel Wind Scylla
13:42 Carnival Cruise Line orders 5th Excel-class cruise ship
13:11 Maersk and MSC overcharging cargo owners for EU ETS, says T&E
12:52 The Port Authority of Valencia launches the ZAL project in the Port of Valencia
12:11 Clarkson Port Services and Peak Group collaborate to deliver Port Agency services across the North Sea
11:42 Wan Hai Lines holds ship naming ceremony for new vessels
11:24 Consolidated shipping lines EBIT loss was $1.44 billion in Q4 2023: Sea-Intelligence
10:49 Seaspan Shipyards receives long-term contracts for the pre-construction work of the the Canadian Coast Guard's first six multi-mission vessels
10:14 Woodside completes sale of 10% scarborough interest

2024 March 26

18:02 COSCO Shipping Lines introduces new Americas service
17:30 Davie awarded first contract for design of icebreaker fleet under Canada’s National Shipbuilding Strategy
17:04 Sanctions complicate Arctic LNG ship sales, Hanwha Ocean says - Bloomberg
16:57 Terntank places an order for 1+1 additional wind/ methanol-ready hybrid tanker
16:28 BW LNG completes acquisition of two TFDE vessels from Stena Bulk
15:50 Hanwha Ocean develops VR-based special vehicle simulator
15:20 TotalEnergies and SINOPEC join forces to produce sustainable jet fuel at a SINOPEC's refinery
14:52 Wärtsilä Lifecycle Agreement to guarantee operational reliability of new wind farm installation vessel
14:23 Hudong-Zhonghua launches two LNG carriers
13:51 Cargo ship hits Baltimore’s Key Bridge
13:12 Final sanctioned tanker with Russian Sokol oil to reach China port - Reuters
12:42 Adani Ports acquires 95% of Odisha's Gopalpur Port from SP Group for $162 million
12:21 IHI and Yara Clean Ammonia agree to jointly assess clean ammonia business collaboration
11:41 Yara Clean Ammonia and Azane granted safety permit to build world's first low emission ammonia bunkering terminal
11:16 Wartsila and Royal Caribbean Group celebrate 15 years of collaboration on digital transformation
10:46 A global carbon tax on shipping is coming, says ABS Chairman and CEO
10:21 Eni, Fincantieri and RINA establish partnership for maritime transport decarbonization

2024 March 25

18:07 The Maritime and Port Authority of Singapore continues to investigate reports of oil spills off the port of Tuas
17:31 “K” Line, NIPPON HAKUYO and OPT Gate sign an agreement for a new fire detection system for car carriers
17:07 Greek merchant fleet recorded slight decline in January 2024
16:47 Hanwha Ocean Plans to develop green technology and naval ships
16:25 U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of ammonia dual-fuel and de-carbonized vessels
15:34 Svitzer targets methanol-fuelled MAN 175DF-M engine for tug application
15:04 Wallenius Wilhelmsen signs contracts for four 9,300 CEU vessels with China Merchants Jinling Shipyard
14:40 Taiwan International Port to upgrade terminal facility at Kaohsiung
13:59 Сruise ship Carnival Freedom catches fire near Bahamas
12:59 Hanwha Ocean wins 2.4 tln-won order for 8 LNG ships
11:16 Inland Ports meet in Paris to talk about the innovation potential of inland ports
10:50 IMO agrees possible outline for maritime “net-zero framework”
10:24 Hapag-Lloyd to continue to avoid the Red Sea route
09:58 QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels

2024 March 24

16:18 Inchgreen Marine Park upgraded as part of £11m investment
15:14 A ribbon-cutting ceremony for Solent Rail Terminal Rail was held at the Port of Southampton
14:08 ESNA and Strategic Marine join forces to offer Surface Effect Ship (“SES”) Crew Transfer Vessels (“CTV”) to the market
13:07 First LNG powered vessel calls at HIP
12:49 Inter-array cable installation completed at Neart na Gaoithe offshore wind farm
11:32 Equinor ASA posts net income at USD 11.9 billion in 2023
09:25 Edda Wind announces the sale of Edda Passat