The shipping industry is experiencing a significant surge in demand, leading to tight capacity and a spike in spot container rates, which have reached their highest levels in over a year. The SCFI Spot Container Freight Rate Index has risen to 2,306 points, marking a substantial increase due to strong market demand and successful implementation of General Rate Increases on main shipping lanes. Additionally, major shipping companies like ZIM, Maersk, and HLAG have seen notable increases in their stock values, with ZIM's stock rising by 37% over the week. The industry is also witnessing high shipping volumes and strong earnings reports, contributing to the robust shipping sentiment. This surge is further complicated by Red Sea disruptions and the introduction of new Asia-Mexico services as rates hit a 20-month high.
Asia-Europe Container Trade Surging as Forwarders Warn of Capacity Crisis and Soaring Freight Rates https://t.co/Ap4C5w1C6b
Stellar week in shipping with massive equity gains off of strong earnings reports and strong shipping sentiment. Top 5 VIE Performers: - $ZIM +36% - $ASC +17% - $DIS.MI +15% - $EURN +15% - $INSW +9% Learn more: https://t.co/oBE09i5WTI
Shipping earnings this upcoming week: - Tues (5/14) am: $NMM $SFL - Tues pm: $DHT - Wed am: $AGAS $HAFN $SHIP - Wed pm: $NVGS - Thurs am: $GSL $ECO $HLAG reports on Wed, so their guidance updates will impact $ZIM volatility.
ποΈΒ The trans-Pacific spot rates are surging, prompting mid-size US importers to finalize their service contracts quickly to avoid the significantly higher spot rates compared to the prevailing contract rates. https://t.co/LBTWRSbcte https://t.co/ss5GtmVErJ
Friday was another day of high shipping volumes above average: $CMRE: 4X $ZIM: 3.5X $CDLR: 2.1X $DAC: 2X $GLBS: 2X $OSG: 2X $TRMD: 1.5X $ASC: 1.4X $TNP: 1.4X $TK: 1.4X
βContainer freight rates have firmed significantly so far in May; the overall SCFI Spot Container Freight Rate Index rose to 2,306 points this week, the highest level outside of Covid, as operators have generally succeeded in implementing General Rate Increases on the mainlanesβ https://t.co/6Uyv7SFFkO
Box lines start Asia-Mexico services as rates hit 20-month high https://t.co/CK0ZV5VP2E via @container_news
Asian ports hit by Red Sea backlogs https://t.co/13NztEaJZs via @container_news
Terrific week for Shipping and $ZIM ends up 37% for the week. Enjoy a great week and appreciate the great equity returns we had! π€© 100 push ups for everyone. https://t.co/fs2uhFDaWa
The Tale of Two Shipping Stories! May 2: "Maersk Raises Financial Forecast for 2024 Amid Strong Market Demand, Red Sea Disruptions https://t.co/sBpIMaleeg Feb 8: "Maerskβs Profit Warning Amid Shipping Overcapacity and Red Sea Disruptions" https://t.co/blyHYLKpNX https://t.co/nslOo4Me8L
$ZIM the top shipping gainer pre market at +4%, very close to $17 π₯. Volume of 138K (as of 4:52am PST) highest pre market volume in many months. https://t.co/lhOSgasl2C
Pareto: Biggest tanker spot moves yesterday: - VLCC +$5000 - LR2 +$6000 Everything else had small moves. $FRO $NAT $TNP $TRMD $STNG $TNK $DHT $INSW $ASC $ECO $HAFNI
Strong Friday Funday shipping day in Europe (Denmark is still closed): - Tankers: +2-4%, $DIS.MI flat - Dry Bulk +1% - $CLCO +3% - VLGCs +2-4% - Containers +4% - Car Carriers +3% Oslo catching up post holiday. $AGAS $BWLPG $GCC $WAWI $OET $HAFNI $FRO $TRMD $DIS.MI $GOGL⦠https://t.co/HwMCkTuEKo
The SCF increased 19% week over week to the highest in over a year. $ZIM $MAERSK $HLAG https://t.co/UFCJdpue8z
SCF increased 19% this week to the highest in well over a year. $ZIM $MAERSK $HLAG https://t.co/ghzon4xyg4
'Huge demand spike and tight capacity' sees spot container rates spike - our lead today https://t.co/pBvT7nOyPs