News / Extra loaders and rising rates as early peak season gets under way

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An early peak season is materialising, and mainline operators are planning extra loader sailings to meet shippers’ heightened requests.

On Friday, the Shanghai Containerised Freight Index showed a 19% week-on-week gain in the Shanghai-Europe rate, to $3,076 per 40ft, while the Shanghai-US West Coast rate went up by 10%, to $3,118 per 40ft.

The Shanghai-US East Coast rate increased by 11% to $4,224 per 40ft. The Shanghai-Mediterranean rate surged by 28%, to $3,145 per teu.

Maersk will deploy a transpacific ad hoc sailing service (TPX) connecting Cai Mep, Busan, Long Beach, and Cai Mep from 8 June, which will turn in 49 days and deploy five to seven ships of 3,500 to 4,600 teu, starting with the 4,395 teu Ren Jian 16.

TPX will operate until September, with 10 sailings currently scheduled and more to be added depending on market demand.

Linerlytica said: “The rate momentum remains positive, with teu-mile demand growth moving ahead of supply growth, allowing carriers to push ahead with their mid-May rate hikes.

“The early peak season rush has raised capacity utilisation, and carriers are pushing for another round of rate hikes and peak season surcharges to be applied from 1 June. Vessel demand remains very high, with additional peak season loaders due to be launched in June, centred around the transpacific and Indian subcontinent.”

Asia-Europe rates surged as new FAK rates took effect on 15 May, with rates to the Mediterranean noticeably stronger due to very high demand.

Supporting rising freight rates is port congestion across North Europe that has worsened, with Hamburg vessel backlogs rising due to pilot strikes, while low water levels on the Rhine also boosting congestion at Rotterdam and Antwerp.

Transpacific carriers are taking advantage of the demand surge by restricting named account (NAC) space to prioritise higher-margin FAK volumes, while also pushing the May rate hikes to prepare for peak season surcharges from 1 June.

Linerlytica added: “Transpacific space remains tight on the back of increased e-commerce cargo, driven partly by Amazon’s decision to move its Prime Day sale from July to June, which has created a compressed window for cross-border shipments.”