Maersk sets new chartering record with deal for $150,000 a day
As liner operators become desperate for ships, charter rates have hit the $150,000/day mark. Maersk Line ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
Resurgent demand for intra-Asia trade into India seems to have pushed short-term container freight rates on the route noticeably higher in recent weeks, recovering from the lows seen over the past few months.
DP World Chennai said the FIX1, featuring fewer port calls, offered an eight-day shorter transit than other available connections between Chennai and China. It has a port rotation of Qingdao-Shanghai-Ningbo-Shekou-Chennai-Visakhapatnam-Port Klang-Shekou-Qingdao.
According to industry sources, manufacturing activity in and around Chennai has gathered pace, propelled by trade diversification revolving around the much-publicised China plus-one sourcing strategy of western importers.
Rajesh Srinivasan, India country manager at freight forwarder Dimerco Express Group, said the government wants to lift manufacturing’s share of India’s GDP from around 17.7% currently to 25% by 2025.
Speaking on the latest episode of The Freight Buyers Club podcast, Rahul Kapoor, global head of Shipping Analytics and Research at S&P Global Commodity Insights, said that although India would not replace China as the workshop of the world, it would make market share gains at China’s expense in the years ahead as manufacturers diversified production to bolster supply chain resilience.
“Supply chain diversification is not a fad anymore, it’s actually happening, and it will continue to accelerate,” Mr. Kapoor explained.
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