• 2021 January 18 18:26

    The Valencia Containerised Freight Index rises 4.19% in December 2020

    The Valencia Containerised Freight Index (VCFI) of December experienced a growth of 4.19% with respect to the previous month, confirming the trend of the last five months of the year of increased freight rates, the company said in its release. The high demand for traffic with China and the rise in fuel prices have played a major role in this increase. Thus, the VCFI as a thermometer of the evolution of maritime transport prices is demonstrating the recovery of economic activity. Thus, freight rates end 2020 with a new all-time high of 1,423.2 points, an increase of 42.33% compared to the start of the series in 2018.

    This situation is due to the high demand for containers in recent months at a global level, according to the latest RWI/ISL data produced by the Leibniz Institute for Economic Research. Moreover, this rise in freight rates is particularly marked by the great dynamism in some markets and trade routes that has triggered demand, which led some shipping operators not to accept bookings with China (Alphaliner) at the beginning of this month.

    Thus, due to the boost in demand there has been a sharp reduction in the levels of idle fleet over the last few months. In this respect, the world fleet of inactive container ships stood at 158 ships in December, with a total of 655 984 TEUs, representing 2.8% of all active vessels.

    In addition, other factors directly related to the operating costs of shipping companies have also shown an upward trend in the month of December. On the one hand, the average price of the European Brent barrel rose by 15.93% with respect to November, from $42.60 to $49.49 in December. On the other hand, the bunkering prices of IFO380 (Intermediate Fuel Oil) and VLSFO (Very Low Sulphur Fuel Oil) also rose in the last month of the year.

    About the performance of freight rates by area in December, it should be noted that they grew in ten of the thirteen areas analysed in the VCFI. Only East Coast Africa (-0.35%), Central America and the Caribbean (-0.63%) and Latin America and the Pacific (-2.26%) experienced a contraction in their levels. In the rest of the areas, the dynamism of the markets located along the trade route between the Mediterranean and Asia such as the Far East (+15.18%), the Middle East (+12.06%) and the Indian subcontinent (+13.58%) stand out. It is also worth noting the increase in export freight from Valenciaport to Latin America and the Atlantic (+10.81%).

    About the Western Mediterranean sub-index, December saw a further change in the series, returning to strong growth of +11.68% and once again showing the volatility of freight rates in the countries of this market. Thus, the year began with a strong increase of 11.57%, due to the cost associated with the entry into force of the new IMO 2020 regulations. However, after this initial growth, prices fell in the following months and there was very little stability in the second half of the year, with continuous changes in the trend.

    In addition, Valenciaport’s traffic with Morocco continues to be at much higher levels than last year for the same period, even though in November (the latest data available) it suffered a slight decline. For its part, Algeria’s export traffic from Valenciaport is very similar to that of 2019, with a slight increase in November.

    As for the Far East sub-index, in December it experienced the highest growth in the last eight months with a rate of +15.18 %. It now has five consecutive months of rising freight levels and stands at 2,763.37 points, reaching a new all-time high since the series began in 2018. On this occasion, as already mentioned, the high demand for traffic with China is translating into strong growth in freight rates worldwide. This situation also occurs in Valenciaport, where export traffic to China increased in the month of November well above its behaviour in the same month of the previous year.

2021 February 27

15:39 Port Hedland named Australia’s Port of the Year
14:23 All sectors of activity impacted at Lerwick Harbour in 2020
13:48 JAXPORT unveils new Strategic Master Plan during 2021 State of the Port address
13:07 PSA & CDAS partner up to launch SmartBooking
12:32 NOAA begins transition exclusively to electronic navigation charts
11:43 USCG announces formal investigation into Coastal Reign capsizing
10:56 False allegation of attack 17nm west of Okwori terminal

2021 February 26

18:14 CADMATIC issued a certificate to ASCO's SRI Caspian Sea Project
17:56 Fincantieri and OCCAR to sign the contract for the construction of 2 new-generation submarines
17:38 IBIA announces the result of 2021 board elections
17:16 LNG-powered short-sea vessel Containerships Borealis makes first call to the port of Rotterdam
16:53 Volga Shipping Company opens river navigation season in the South of Russia
16:31 Port of Melbourne awards rail infrastructure contracts
16:25 ABS publishes guidance on methanol as marine fuel
16:05 Port of Corpus Christi and Port of Rotterdam sign MoU
15:48 Container giant MSC to open new depot in North Sea Port
15:05 Rosmorport announces changing of Dickson seaport boundaries
14:43 Corvette Stoyky and tanker Kola of RF Navy's Baltic Fleet started anti-piracy watch in the Gulf of Aden
14:19 PortNews offers new edition of its Hydrotechnika magazine
13:30 New edition of PortNews magazine is available now
12:14 CMA CGM to dedicate six new LNG-powered vessels to U.S. services
11:42 CPC system to transport 67.5 mln tons of crude oil in 2021
11:18 MPA awards LNG bunker supplier licence to Total Marine Fuels Private Limited
11:04 Wärtsilä and Ocean Technologies Group partner to deliver transformational learning solutions to improve safety and efficiency at sea
10:45 MABUX: Bunker market this morning, Feb 26, 2021
10:39 Car carrier Orca Ace earns ClassNK's 1st remote survey notation
10:36 Port of Baku Director General held online meeting with members of American-Azerbaijani Chamber of Commerce
10:14 Port of Gdynia welcomes largest single delivery of wind turbine propeller blades in Polish history
09:51 Bunker prices continue rising at the Port of Saint-Petersburg, Russia (graph)
09:32 Oil prices decrease amid dollar rise
09:18 Baltic Dry Index as of February 26

2021 February 25

20:19 Bunker Weekly Outlook, Week 08, 2021
18:37 Port of Oakland boss appointed CAPA Vice President
18:07 Port of Los Angeles announces launch of new ‘Control Tower’ data tool for tracking cargo
17:53 Admiral Nevelskoy ferry leaves Saint-Petersburg for Sakhalin
17:49 BPA reports lowest passenger numbers in 60 years
17:42 Finnlines Plc issues its Financial Statements 2020 and Financial Review for 2020
17:34 Cutting restrictive trade policies could boost global economic recovery from COVID-19 by 3.4%
17:31 ECSA: European shipping is central to the success of EU's new trade strategy
17:20 APM Terminals Algeciras reaches all employees with a safety campaign
16:58 Tallink Grupp reports net loss of EUR 108.3 million for pandemic year 2020
16:41 Terms of references for Klaipeda Seaport's Southern part development to be prepared by American specialists
16:19 BPO’s comprehensive ports report published today
16:15 Hiab to supply MV Commercial with 100 HIAB loader cranes
15:45 Rolls-Royce secures UK MOD funding for innovative technology to support naval autonomy
14:50 Consequences of COVID pandemic affect the Port of Hamburg’s 2020 throughput
14:25 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:13 Nevsky Shipyard delivers Pola Gali, yet another ship of Project RSD59
13:07 DNV GL joins smart maritime network to enhance industry cooperation on digitalization
12:10 ClassNK grants its first remote survey notation for PCC ORCA ACE
11:32 NOVATEK and Shenergy Group sign SPA for LNG from Arctic LNG 2
11:04 “K”Line commences technical management of Singapore’s first LNG bunkering vessel “FUELNG BELLINA”
10:33 Telemar wins 50-vessel service and maintenance contract with Fairplay Towage group
10:21 MABUX: Bunker market this morning, Feb 25, 2021
10:13 BC Ferries releases its third quarter results
09:59 CMA CGM implements FAK rates from the Mediterranean, Adriatic, North Africa & Black Sea to the Indian Subcontinent
09:50 BC Ferries' fifth battery hybrid-electric vessel launched
09:28 Oil market sees mixed price movements
09:12 Baltic Dry Index as of February 24

2021 February 24

18:06 Parkwind selects DEME Offshore for foundation EPCI contract at Arcadis Ost I