Shippers welcome new ocean capacity, but it won't stop price increases
In the absence of carrier-led price hikes, container spot rates largely flattened on the transpacific ...
By Alison Koo
Containerships hitting the water this week have mostly gone to Far East-Mediterranean and Far East-Indian Subcontinent routes – a sign of firming cargo volumes and freight rates on these trades.
According to Alphaliner, CSSC (Tianjin) Shipbuilding last week delivered the 16,136 teu CMA CGM Cyrano to the French carrier, the third delivery of six sister methanol dual-fuelled vessels commissioned in February 2023 for around $175m each.
CMA CGM has deployed Cyrano to its Far East-East Mediterranean loop, the BEX2 (aka Phoenician Express), where it joins both its sisters, the rest of which will be completed by the end of the year.
Meanwhile, Taiwan operator Wan Hai Lines continues to build on its standalone Far East-Mediterranean service FM1, sending the newly built 8,710 teu Wan Hai 902 to the route after its delivery from HD Hyundai Samho.
Wan Hai 902 is the second of four conventionally powered ships ordered in September 2024 for $127m each, and was delivered on 11 June, all the others will be completed by 2027.
Launched last September, the FM1 marked Wan Hai’s return to the Far East-Mediterranean route after 16 years, and Wan Hai 902 will be the 11th ship on the service. The deployment of the ywo new box ships on the FM1 represents an upsizing, as the service was initially run with 4,300-5,000 teu ships.
Wan Hai’s privately owned associate, Interasia Lines, has been expanding into the China-India lane, and this week took delivery of the 7,092 teu Interasia Ambition from Shanghai Waigaoqiao Shipbuilding. It will be assigned to Interasia’s China-India ICI service operated with RCL and Wan Hai.
This also represents a vessel upsizing, as it replaces the 4,890 teu Interasia Inspiration on the loop currently run with 3,000-7,000 teu ships.
To meet high demand on the China-India trade, Maersk Line has deployed the 5,915 teu Maersk Ferrato, lately arrived from Tsuneishi Zhoushan, to fulfil an extra sailing. It’s one of four ships Japanese tonnage provider Nissen Kaiun commissioned in March 2023 for long-term charter to the Danish carrier.
Only one newbuilding delivery this week is for the Far East-North Europe trade: Yang Ming took delivery of the 15,500 teu YM Wayfinder from HD Hyundai Heavy Industries. One of five sister units ordered in 2024, YM Wayfinder (pictured above) will be deployed to the Premier Alliance’s FE3 service, operated with MSC.
Due to only a few ultra-large ships being ordered in 2023-2024, not many newbuildings have been assigned to the Far East-North Europe lanes.
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