The shipping industry is facing significant disruptions due to escalating attacks in the Red Sea, leading to increased freight rates and port congestion. The Houthi attacks have forced ships to divert from the Red Sea, causing congestion at Singapore ports and impacting global trade routes, particularly between Europe and Asia. Freight rates have surged, with container costs reaching as high as $10,000, double the current spot rates. The Drewry composite index has reached an 18-month high with a 55% jump, and the Shanghai Containerized Freight Index rose by 12.6% to 3,044.77. Additionally, tanker demand is rising, and the Baltic Clean Tanker Index (BCTI) saw a nearly 5% increase, with specific spot moves for LR1 and MR tankers. Companies like Maersk are seeking efficient solutions to manage unpredictable rates and longer transit times. The Megamax fleet now forms half of the global boxship fleet.
Top VIE-covered movers in Europe today: - $MPCC +4% - $BWLPG +3% - $WAWI +3% - $HAUTO +3% - $FRO +3% - $TRMD -3.5%
$BOAT Shanghai Containerized Freight Index https://t.co/OGw34Rx1nJ https://t.co/DGzZwkQPhY
SCF up over 12% in the past week… Wow! $ZIM $HLAG $MAERSK https://t.co/p5rUeO8Olh
'Carriers will continue to push for higher and higher freight rates' @XenetaSand https://t.co/CV2FEBjSOo
The Shanghai Containerized Freight Index published today shot up by 12.63% to 3044.77 points, the first time the index has been above 3,000 points since August 2022 https://t.co/CV2FEBjSOo
Shanghai Containerized Freight Index rose 12.6% w/w to 3,044.77. $SCFI #Shipping #China https://t.co/jrLFSaWlaY
Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen! 1️⃣Megamax #ships form half of the container fleet 2️⃣ #RedSea attacks continue 3️⃣ Port #congestion in Asia 4️⃣ Higher consumption in #China & US 5️⃣ #Tanker demand also rises https://t.co/ffIEP6oQ8D
Container freight futures down 1% today, ended up falling after open yesterday. June and August contracts are trading at about the same level at the moment (~4150). October is ~3200 (a down period) and December ~2500. $ZIM $HLAG $MAERSK https://t.co/Q5q76vfh78
🚢 A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions https://t.co/f2sMookZql https://t.co/RiGFGXTDoD
Strong day in Shipping! You wouldn’t know that the S&P, DOW, and Nasdaq are all very RED. - $BWLP ending near +20% on over 20X volume! - $LPG and $NAT +6% https://t.co/0xGzv4JoT0
Another week, another material increase in freight rates. We are doubling every other month on a trend basis... This feels increasingly reminiscent of 2021, folks. More -> https://t.co/DpQZTTy65N https://t.co/WY9rqJiE6n
Shippers Brace for Asia-Europe Blanked Sailings as Rates Rise https://t.co/PKud69QUBX
Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen! The impact of #RedSea diversions on global #shipping and the spike in #freight rates due to #Houthi attacks. https://t.co/ffIEP6oij5
Futures are pricing in a significant rise in the container freight rate ahead to levels not that far off of the supply chain disruption period of '21. Certainly not a good sign for traded goods inflation ahead. h/t @AndreasSteno https://t.co/qtjIz9Hxxa
Mid-day market movers update: -$BWLP now up 16%! - $NAT +5% - $LPG +5% - $HSHP +5% $CMRE and $DAC 52 week highs. Take advantage of our current VIE special with a $199 trial month + 30% off the first year at: https://t.co/TDrBwxBGFI
Tanker Index 5/30: - BCTI: 1053 (-18) - BDTI: 1234 (+2) Equities green (except one certain large tanker). $FRO $NAT $TNP $TRMD $STNG $TNK $DHT $INSW $ASC $ECO $HAFNI https://t.co/tfHqPaSDbO
Rates are rising across key shipping routes. https://t.co/9ypUMpnVei
Drewry showing a 4% weekly increase, 151% YOY. Highest in 18 months $ZIM $MAERSK $HLAG https://t.co/QnwMJfrZpp
Top shipping movers this morning: - $BWLP +9% - $NAT +4% - $LPG +3%
$ZIM CEO last week: "Today, tensions in the Red Sea have not eased and continue to disrupt global trade. ...As we look forward, we expect freight rates to remain higher for longer than originally anticipated...there does not seem to be a solution in sight. Moreover, in recent… https://t.co/aMjTNinYWi
Major Port Congestion in Singapore Affecting Container Markets #logistics #shipping #freight https://t.co/qtXqSGO1e3
Rates are rising across key shipping routes. via Morgan Stanley https://t.co/yMLPUm7sLF
Haven’t heard much about the Red Sea disruptions lately but ocean freight rates continue to rise: https://t.co/tYqGDKEb69
Shipping Green in Europe today: - Tankers: +1% - Dry Bulk: Flat to +2% - $AGAS +3%, $BWLPG +12% - Containers +1% - Car Carriers: Flattish $AGAS $BWLPG $GCC $WAWI $OET $HAFNI $FRO $TRMD $DIS.MI $GOGL $CADLR $CLCO https://t.co/z4FCh2r3yl
Capesize index up: 22,808 +630 FFAs having a nice day, looking like Capes have reached their ST bottom last week. $NMM $SBLK $BDRY $HSHP $GRIN $GOGL $GNK $PANL $SB $SHIP https://t.co/esQiBqXO8C
$BWLPG Q1: - EPS $1.07 - Spot TCE $68,500 - Q2 TCE: 84% at $49,000 - $1.00 dividend Up 11% in Oslo this morning 🔥🔥 Take advantage of our current VIE special with a $199 trial month + 30% off the first year at: https://t.co/TDrBwxB8Qa https://t.co/DQOiFy6L7y
$FRO Q1: - Adj EPS $0.62 - Dividend of $0.62 - Reiterates previously disclosed VLCC Sales. - Q2 TCE: 78% VLCC at $60,400 Take advantage of our current VIE special with a $199 trial month + 30% off the first year at: https://t.co/TDrBwxB8Qa https://t.co/gHbgRKrTLy
$FRO Q1: - Adj EPS $0.62 - 62 cent dividend - Q2 TCE: 78% VLCC at $60,400, 72% LR2/Afra at $64,700 (both much higher than Q1) 8.5% annualized yield based on Q1 https://t.co/ogaiKANkBR
Global #container #freight rates continue to surge higher amid strong demand on the major China to US and Europe routes. The Drewry composite index trades at an 18-mth high at 4226.5 per 40 ft box, a 55% jump during the past four weeks. https://t.co/g6055e7YHI
Supply Shock: Shipping Container Costs Top $10,000 Amid Red Sea Turmoil Thinning Global Capacity https://t.co/G0xn1dTSC0
Container freight future index reverses yesterdays loss and back over 4300 and up 2.2%. $ZIM $HLAG $MAERSK https://t.co/Y6Tbfhgxye
Weekly Vessel values up across the board. LR1s, MRs, and containers very 🔥. $TRMD $ASC $STNG $INSW $HAFNI $DIS.MI $DAC $GSL https://t.co/do9RpbYaM0
Companies transporting goods from Asia face costs of as much $10k for an urgent full-size shipping container over the next month — about double current spot rates, according to prices circulating btwn carriers & importers https://t.co/tqLqENTQB1 via @economics @b_muzz @AnsteyEco
Tanker Index 5/29: - BCTI: 1071 (+3) - BDTI: 1232 (-8) Spot stable. Tanker equities down around 1%, in line with the broad market. $FRO tomorrow morning! $NAT struck out today. $FRO $NAT $TNP $TRMD $STNG $TNK $DHT $INSW $ASC $ECO $HAFNI https://t.co/Yo2ZS7QoZZ
Struggling with unpredictable rates & longer transit times, global shippers are seeking efficient solutions. @Maersk & FreightWaves surveyed industry reps to uncover challenges & insights. Dive into the report for a closer look. https://t.co/nXU6yn3cbx
MR FFAs moving today: MR TC2: May +2%, rest of curve flattish MR TC6: May/June +2-3-% MR TC14: June +8%, July +5% Product tankers down along with the broad markets. $TRMD $ASC $STNG $INSW $HAFNI $DIS.MI https://t.co/MBSTlKeIpK
Missiles Pound Bulk Carrier Twice In A Day In Chaotic Red Sea; Brent Crude Moves Higher https://t.co/h1GnQI383V
$NAT Q1: - 12 cent dividend - Spot TCE of $34,320 https://t.co/W5c2LfUA39
BCTI was up nearly 5% yesterday. Biggest spot moves: LR1: +1400 MR: +2600 $TRMD $ASC $STNG $INSW $HAFNI $DIS.MI
1/The#Houthi attacks disrupted global trade. One of the reasons we are seeing the spike in freight rates is that these ships operate largely on the Europe-Asia route. Megamax fleet now forms half of global boxship fleet https://t.co/EMaXHsGCp2 via @container_news
Report: Singapore Port Congestion Mounts as Ships Divert from Red Sea https://t.co/Vp8jB0jlH2