Asia-Europe

News and analysis of Asia–Europe, rates, volumes, services, contracting, ports, disruption, end-to-end strategies

The latest Asia-Europe News & Analysis

Orderbook more ‘manageable’ if measured in ship numbers, not TEUs: analyst

Greg Knowler, Senior Editor Europe |
Although the incoming capacity will outstrip demand on the major trades over the next two years, the capacity overhang that has been touted in many corners of the shipping sector is being overstated, says an industry analyst.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Oversupplied Asia-Europe ocean trade readies for two December rate hikes

Greg Knowler, Senior Editor Europe |
The westbound trades out of Asia are heading into tender season with carriers attempting to lift rate levels before locking in long-term contracts being eroded by surplus capacity.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Sharp rise in Asia-Europe Q3 volumes discounted by last year’s import slump

Greg Knowler, Senior Editor Europe |
On its own, the growth in container volumes on Asia to Europe trade lanes in the third quarter was impressive, but it compares with the steep slowdown in imports last year by overstocked retailers.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Shippers remain slow to embrace more expensive green shipping services

Greg Knowler, Senior Editor Europe |
Carriers are reporting some successes in convincing shippers to use their emissions-reduction services, but acceptance of premium — and costly — green products remains a hard sell in a market where rate levels are at record lows.
MaritimeContainer Shipping NewsContainer linesTrans-AtlanticAsia-Europe

Taiwan's major container lines see nine-month profits plunge amid market downturn

Keith Wallis, Special Correspondent |
Yang Ming said the imbalance between vessel supply and cargo demand, high inflation and geopolitical risks will be among the factors pressuring the ocean market into 2024.
Container Shipping NewsContainer linesTrans-PacificAsia-Europe

Hapag-Lloyd prioritizes costs as rates, earnings plummet

Greg Knowler, Senior Europe Editor |
The carrier has followed its peers with a sharp decline in earnings, and although still highly profitable, its CEO warned that rates on the east-west trade lanes are at unsustainable levels.
Container Shipping NewsContainer linesTrans-PacificAsia-Europe

Falling backhaul Europe-Asia rates ‘subsidizing’ eastbound freight moves

Greg Knowler, Senior Editor Europe |
With weak demand for European imports in Asia and ample vessel capacity, spot rate levels on the backhaul trade are in freefall.
MaritimeContainer Shipping NewsContainer linesForwardingAsia-Europe

Forwarders warn of rising transshipment, cargo delays after ETS rollout

Greg Knowler, Senior Editor Europe |
Carriers are already beginning to adjust schedules ahead of Europe’s new shipping carbon tax, something forwarders say could reduce direct port connections and boost transshipment activity.
MaritimeContainer Shipping NewsTrans-AtlanticAsia-EuropeTransport, Trade, and Regulation News

Asia-Europe ocean shippers go to tender in a freight buyers' market

Greg Knowler, Senior Editor Europe |
Still, sharply rising vessel operating costs could limit any exploitation of the supply-demand imbalance with carriers unwilling to accept loss-making contracts.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Capacity glut, forwarder competition drive Asia-Europe ocean rates lower

Greg Knowler, Senior Editor Europe |
Spot rates are being dragged down by forwarders speculating on an extended period of weak rates on the Asia to Europe trade as capacity is expected to outstrip demand through 2024.
MaritimeContainer Shipping NewsContainer linesForwardingAsia-Europe

Fresh geopolitical stress puts supply chain resilience back in the spotlight: analyst

Lars Jensen, CEO & Partner, Vespucci Maritime, and JOC Analyst |
Existing overcapacity in the container shipping market has provided the resilience required to handle a potential prolonged blockage of the Suez Canal, says analyst Lars Jensen, who wonders if stakeholders are willing to pay higher freight rates to maintain that safety net.
Container linesAsia-EuropeInternational ports

Supply-demand imbalance drags down Cosco’s nine-month profits

Greg Knowler, Senior Editor Europe |
The normalization of container shipping markets is being accelerated by a surplus of capacity, with predictable results on the profitability of ocean carriers.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Typhoon leaves vessel delays in its wake as ports in China, Taiwan reopen

Keith Wallis, Special Correspondent |
Both Hongkong International Terminals and Modern Terminals confirmed cargo handling operations at their facilities at Hong Kong’s Kwai Chung container port were halted for about 33 hours, gradually resuming late Monday afternoon.
Container Shipping NewsTrans-PacificAsia-EuropeInternational ports

OOCL bucks trans-Pac trend with sharp rise in Q3 volume, but revenue slumps

Greg Knowler, Senior Editor Europe |
The Cosco subsidiary reported mostly positive volume metrics for both the third quarter and nine months through September, although revenues were down sharply.
MaritimeContainer Shipping NewsContainer linesTrans-PacificTrans-AtlanticAsia-Europe

Doubts growing over shipping’s readiness for Europe’s ETS carbon tax

Greg Knowler, Senior Editor Europe |
To comply with the European emissions trading system, ocean carriers will essentially need to become experts in carbon credit trading, on top of monitoring, verifying and reporting CO2 emissions.
MaritimeContainer Shipping NewsContainer linesTrans-AtlanticAsia-EuropeLogistics Technology NewsTransport, Trade, and Regulation News

Europe’s coming ETS surcharges based on ‘guesswork’: Sea-Intelligence

Greg Knowler, Senior Editor Europe |
A significant misalignment in ETS surcharges among ocean carriers can be expected if the per-FEU levies already announced by Maersk and Hapag-Lloyd are any indication, according to Sea-Intelligence Maritime Analysis.
MaritimeContainer Shipping NewsContainer linesTrans-AtlanticAsia-Europe

Shippers to bring European ETS surcharge into carrier contract talks

Greg Knowler, Senior Editor Europe |
Cargo owners want complete transparency from carriers in their “emission surcharges” that will be levied on customers from the first quarter of 2024 and are looking at how the surcharges can be handled in long-term rate agreements.
MaritimeContainer Shipping NewsContainer linesTrans-AtlanticAsia-Europe

Rising green fuel costs offer looming challenge for carriers, BCOs

Greg Knowler, Senior Editor Europe |
While the costs of meeting shipping’s net-zero 2050 target are expected to run into the trillions, Europe’s emissions trading system presents a more immediate decarbonization cost that awaits European cargo owners in the new year.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Maersk, Hapag-Lloyd put shippers on notice ahead of European ETS surcharges

Greg Knowler, Senior Editor Europe |
The phased implementation of Europe’s emissions trading system on the shipping industry beginning next year will generate significant costs for carriers that will be passed on to customers in the form of new charges.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Asia-North Europe blank sailings to soar in October amid capacity overhang

Greg Knowler, Senior Editor Europe |
Ocean carriers on the busy trade lane plan to slash deployed capacity to match falling demand levels that typically follow China’s Golden Week holiday at the start of October.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Zim, MSC ink cooperation deal on services linking Asia, Europe and Med

Michael Angell, Associate Editor |
Facing an operating loss of up to $500 million for 2023, Zim hopes the sharing arrangement with its larger competitor will help drive efficiencies “amidst continued near-term headwinds.”
Container linesContainer Shipping NewsTrans-PacificAsia-Europe

Rate recovery could buoy container shipping in H2: Cosco

Keith Wallis, Special Correspondent |
But in its interim earnings announcement, Cosco Shipping Holdings also maintained a cautious outlook due to challenges it cited, including the global economy, inflationary pressures in Europe and America, and the delivery of new vessels.
Container linesContainer Shipping NewsTrans-PacificAsia-Europe

Hamburg follows North Europe port rivals with H1 volume decline

Greg Knowler, Senior Editor Europe |
Weak European demand for containerized trade through the first half is hurting port throughput at the region’s top three gateways, but signs are emerging of recovering volume on certain routes.
Port NewsContainer Shipping NewsTrans-AtlanticAsia-EuropeInternational ports

Spot rate gains puts pressure on shippers delaying Asia-Europe contracts: Xeneta

Greg Knowler, Senior Editor Europe |
Additional upward pressure might soon be brought to bear on spot rates, with forwarders expecting carriers to ramp up blank sailings through the fourth quarter to mitigate a significant injection of new capacity.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Lack of market clarity undermines positive sentiment: OOCL

Greg Knowler, Senior Editor Europe |
The Cosco Shipping subsidiary noted that significant uncertainties over economic growth prospects and the huge injection of capacity into major trade lanes made forecasting difficult.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Shippers reluctant to shoulder high cost of decarbonization: executives

Greg Knowler, Senior Editor Europe |
Getting shippers to commit to premium-priced, low-emissions shipping services is a hard sell for ocean carriers and forwarders as cargo owners enjoy rates that are now mostly below pre-pandemic levels after two years of record highs.
MaritimeContainer Shipping NewsContainer linesForwardingTrans-PacificTrans-AtlanticAsia-Europe

Forwarders warn of substantial Q4 rise in Asia-Europe blank sailings

Greg Knowler, Senior Editor Europe |
Carriers will have to withdraw large amounts of capacity to prevent a freefall in rate levels that are expected to be undermined by rising capacity and subdued demand, according to forwarders.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Hapag-Lloyd, HMM predict H2 demand pickup amid faltering profits

Greg Knowler, Senior Editor Europe |
The first-half results of Hapag-Lloyd and HMM mirror those reported by their peers, with earnings severely challenged by the rapidly normalizing market.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Robust Asia–Med demand continues to outpace North Europe growth

Greg Knowler, Senior Editor Europe |
Despite unfavorable comparisons with last year, volume between Asia and the Mediterranean has surpassed that recorded in pre-pandemic 2019.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

New China–South India string to boost rising intra-Asia capacity

Bency Mathew, Special Correspondent |
The latest China–India service follows the announcement of another new string from CULines and capacity increases from other carriers, including Pacific International Lines, Evergreen Marine and Regional Container Lines.
Container Shipping NewsContainer linesAsia-Europe

Ocean market shows signs of life despite forecasts for muted peak season

Peter Tirschwell |
While the magnitude of peak season in any given year may have macroeconomic significance in shedding light on the strength of consumer spending and the economy overall, it is only one factor driving the market conditions that affect the physical movement of goods, writes Peter Tirschwell.
Container Shipping NewsContainer linesTrans-PacificAsia-EuropeNorth American portsInternational ports

EU carbon tax’s long reach to affect global rates, vessel deployments: analyst

Lars Jensen, CEO & Partner, Vespucci Maritime, and Journal of Commerce analyst |
Inclusion in the European Union’s emissions trading system will affect not only the cost of shipping to and from the EU, but will likely put upward pressure on pricing for cargo that doesn’t touch the EU at all, writes analyst Lars Jensen.
Container Shipping NewsContainer linesTrans-AtlanticAsia-EuropePort NewsTransport, Trade, and Regulation News

ONE reports sharp drop in fiscal Q1 profitability as rates, demand fall

Greg Knowler, Senior Editor Europe |
The financial results of the Singapore-based carrier reflect a return to a more normal container shipping market, albeit one characterized by weak demand from inflation-hit destination markets.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

Asia-Europe ocean carriers look to steady market with August rate hikes

Greg Knowler, Senior Editor Europe |
The new price levels signal the intent of carriers to drive up freight-all-kinds rates in a move to capitalize on any increased buying should a peak season emerge.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Clock ticking on Europe’s new multimodal green transport proposals

Greg Knowler, Senior Editor Europe |
With European parliamentary elections set for early June 2024, road and rail lobby groups have emphasized the urgency of getting the latest freight transport measures adopted.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Asia-Europe blank sailings hit two-year low despite sluggish market

Greg Knowler, Senior Editor Europe |
Ocean carriers are showing a lack of urgency to blank sailings even as China’s exports weaken and new vessels continue to come online.
MaritimeContainer Shipping NewsContainer linesAsia-Europe

Antwerp-Bruges H1 volumes slide on weak demand, poor industrial outlook

Keith Wallis, Special Correspondent |
The fall hid some upbeat trends, with the number of refrigerated containers rising more than 10% in the first half and the rate of decline in overall volumes easing in the second quarter.
International portsContainer Shipping NewsContainer linesAsia-EuropeBreakbulk NewsRo/ro cargo

Strategic investment underpins ONE’s ‘sustainable profitability’ target: Nixon

Greg Knowler, Senior Editor Europe |
The Singapore-based carrier’s multi-billion-dollar investment plan into terminals, new ships and decarbonization is meant to secure the right assets in the right areas to keep it in the black.
MaritimeContainer Shipping NewsContainer linesTrans-PacificAsia-Europe

First-half revenue, earnings contract sharply at Cosco, OOCL

Greg Knowler, Senior Editor Europe |
The extent to which the rapidly cooling container shipping market is hurting China’s main carriers is likely to be repeated across the industry as reporting season approaches.
MaritimeContainer Shipping NewsContainer linesTrans-PacificTrans-AtlanticAsia-Europe

Maersk warns of hefty Asia-Europe rate hike from July 31

Greg Knowler, Senior Editor Europe |
The carrier is attempting to stem the spot rate slide in a weak demand-high-capacity environment that has seen freight prices fall more than 80% from the record highs of early last year.
MaritimeContainer Shipping NewsContainer linesAsia-Europe