LACK OF CARGO, O/F KEEPS FALLING

1. Europe and Mediterraneans area: Due to lack of cargo support, the competition became more severe. Carriers are reducing their rates. And most of the reduce is above USD50/TEU comparing the rates with last week.
2. Canada lane: O/F would be reduced by some carriers after 16th March.
3.Middle East & ISC and Red sea area: CMA will start the direct line from 21st Mar. The rate for this lane has been reduced down again this week. It‘s estimated the chaos situation will last a long time.
4.Australia lane: Short of the cargos for carriers, the rates will be reduced this week.
5.CMA will start the direct line from Xiamen to South East Asia and Middle East & ISC, which is CMA CGM CIMEX II lane. The closing day will be every Thursday, ETD: every Friday at Haitian port. And it will call LAEMCHABANG (7 days), PORT KELANG (10 days), COLOMBO (15 days), NHAVA SHEVA (18 days) and JEBEL ALI (21days).
6.Quanzhou will have a service lane to South East Asia in Mar.
COSCO will launch a new service for South East Asia Lane from 19th March, starting from Quanzhou,via Hongkong to MANILA. The total T/T 3 days.