More blanked voyages expected as carrier efforts to drive up rates falter
Container spot rates were largely unchanged for a third consecutive week, as it became evident ...
Xin Long Yun 16 Photo: VesselFinder
Recently incorporated STF Shipping has started operations, joining other Russia-focused operators, despite the downward pressure on freight rates.
The Hong Kong-registered company has launched five China-Russian Far East services, taken over from Dubai-based CStar Line, which exited the route in August.
STF, an acronym of Safety, Timeliness and Flexibility, has established its HQ in Shanghai, with agency offices in Ningbo, Seoul, Vladivostok and Nakhodka.
The Hong Kong Companies Registry shows STF Shipping was incorporated in December 2023 and is owned by Chinese national Yu Pengshen.
According to Linerlytica, STF operates six 1,100-2,200 teu containerships, transferred from CStar Line.
The new services are STF-1 (calling at Dalian, Xingang, Vostochny, Dalian turning in 14 days on a fortnightly interval using the 1,170 teu Xin Hua Yuan); STF-2 (Loop 1 deploys the 1,744 teu Xin Long Yun 89 to call at Rizhao, Vostochny, Rizhao on 10-day intervals; STF-2 (Loop 2 deploys the 1,118 teu Xin Long Yun 88 calling at Ningbo, Vostochny, Ningbo on 10-day intervals; STF-3 (Loop 1 deploys the 2,206 teu Mao Gang Quan Zhou and Mao Gang Guang Zhou, calling at Yantian, Nansha, Xiamen, Shanghai, Vostochny, Yantian on a 14-day turn time with weekly sailings. STF-3 (Loop 2 deploys the 1,118 teu Xin Long Yun 16 calling at Busan, Shanghai, Vostochny, and Busan.
Despite downward pressure on East Asia-Russian Far East freight rates, newcomers and existing players continue to introduce new services as many mainline operators avoid Russian calls following the invasion of Ukraine.
Current rates are said to be around $1,600/teu, down from $2,300/teu last month, as container volumes have not been consistently high.
On 17 August, Fesco launched an intra-Asia service connecting Port Klang, Ho Chi Minh City, Port Klang, with further connections to the Russian operator’s services to Russia via Ho Chi Minh City, for northbound connections to Vladivostok, and via Port Klang for westbound connections to Novorossiysk and St Petersburg.
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