Asia-US Container Rates Decline Amid Lunar New Year
Asia-U.S. container rates have dropped due to the Lunar New Year slack season and earlier import frontloading. Asia-West Coast rates fell 10% to $5,321 per FEU, while East Coast rates slipped 3% to $6,715. Freightos reports competition among carriers and schedule disruptions may impact short-term prices. Longer-term, the return of capacity previously used for Red Sea diversions could drive rates lower. However, strategies like slow steaming, blank sailings, and scrapping may mitigate a potential rate collapse to 2023 levels.
Houthis May Reduce Red Sea Attacks Temporarily
The Houthis are likely to scale down Red Sea attacks during the Israel-Hamas ceasefire but may resume operations if the agreement collapses. Their statement suggests halting assaults on Israeli-owned vessels hinges on completing the ceasefire’s three phases, including an Israeli withdrawal from Gaza—an outcome deemed highly unlikely.
Resumption of attacks poses severe risks to transit vessels, with a potential spillover into UAE and Saudi targets. Coalition counterattacks could escalate regional tensions, jeopardizing stability and maritime safety.
End of Cape of Good Hope Diversions Challenges Zim
Houthi rebels announced a halt to attacks on international shipping via the Red Sea and Suez Canal, except for Israeli-owned or flagged vessels. This exclusion complicates Zim's operations as other carriers plan gradual reintroduction of Red Sea routes. Analysts predict disruptions, overcapacity, and falling freight rates once diversions end.
The ceasefire’s second phase, which includes Israel’s withdrawal from Gaza, is pivotal to resolving shipping risks, but normal operations through Suez may take months to stabilize.
Houthis Halt Red Sea Attacks Amid Ceasefire Agreement
The Houthis announced they would halt attacks on Israel and Red Sea shipping after a ceasefire between Israel and Hamas took effect. This development could reduce ocean freight rates, as carriers resume shorter routes through the Red Sea.
Rates surged due to diversions around the Horn of Africa, adding weeks to voyages. Factors like new ship deployments and a slack shipping season ahead of Lunar New Year are also expected to moderate shipping costs.
Maersk Announces New Peak Season Surcharge
Maersk will introduce a Peak Season Surcharge (PSS) for shipments from Oceania to India, effective 1 February. For shipments from American Samoa, the PSS begins 15 February.
The surcharge, set at $400 per container, applies to shipments originating from Australia, New Zealand, Papua New Guinea, Solomon Islands, Fiji, Samoa, Tonga, and American Samoa. This adjustment aims to address increased seasonal demand and optimize shipping efficiency for routes to India.
DACSA and Peel Ports Strengthen Long-Standing Collaboration
DACSA, a global supplier of food ingredients, has partnered with Peel Ports at the Port of Liverpool since 2005, utilizing advanced facilities to store and process key ingredients like rice, corn, and maize.
In 2023, DACSA achieved a milestone, importing over 200,000 tonnes of ingredients into the UK. Peel Ports' specialized silos, grain conditioning, and port-centric logistics were instrumental in enhancing supply chain efficiency.
ONE Launches New Asia-East Coast South America Service
Ocean Network Express (ONE) is enhancing its Asia–Latin America coverage with the launch of the East Coast South America Express 2 (SX2) service. The SX2 connects ports in Northeast and Southeast Asia with major hubs on South America's east coast.
Additionally, a dedicated Rio de la Plata feeder service via Rio Grande will offer reliable transit times to Argentina and Uruguay. The SX2 service rotation includes Pusan, South China, Singapore, Rio Grande, Santos, Santa Catarina, Singapore, Hong Kong, and back to Pusan.
Trump Delays Tariff Hike on Day 1 of Presidency
Despite earlier promises, President Donald Trump refrained from imposing new tariffs on China, Canada, and Mexico on his first day in office. However, he hinted at a 25% tariff on Canadian and Mexican goods starting February 1. Trump also announced plans to establish an External Revenue Service to collect tariffs, duties, and revenues, aiming to generate significant funds. The shipping industry is closely monitoring the potential trade impacts and long-term effects on global supply chains.
Carriers Tighten Rules to Prevent Charcoal Fires
The shipping industry is adopting stricter safety measures for transporting charcoal ahead of mandatory IMO regulations in 2026. The new rules classify all charcoal shipments as dangerous goods under the IMDG Code, requiring proper declaration, handling, packing, and stowage.
This move follows a history of deadly fires caused by misdeclared cargo, with 68 incidents reported between 2015 and 2022. The World Shipping Council and CINS urge immediate compliance to enhance safety.
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Container Freight Rates Drop Amid Strike Averted
Spot container freight rates have fallen significantly following the averted port strike on the US East Coast, with the Shanghai Containerized Freight Index (SCFI) dropping 7% in the past week. Weak seasonality and reduced cargo rush ahead of Chinese New Year are contributing to downward pressures.
However, shipping lines may mitigate further declines through blank sailings and upcoming alliance reshuffles.
Houthis Cease Red Sea Attacks, Excluding Israeli Ships
Following the Gaza ceasefire, the Houthi in Yemen have announced they will stop targeting international commercial vessels in the Red Sea, except for Israeli-owned or flagged ships.
While this marks a reduction in maritime attacks that have persisted for over a year, the Houthis warn that aggression by US or UK forces could lead to renewed targeting of vessels from these countries. Shipowners remain cautious about resuming Red Sea transits, with adjustments expected in major shipping routes.
Maersk Adjusts Peak Season Surcharge to Gambia
Maersk has announced revisions to its peak season surcharge for shipments to Gambia from various global origins, effective 24 January 2025. The updated tariff applies to cargo types, including ALL 20, ALL 40, and ALL 45 containers.
Key origin countries impacted by this change include the US, UK, Canada, India, and multiple European, Asian, and South American nations. The adjustment aims to streamline costs during peak season operations.
PSA Achieves Record 100 Million TEUs
PSA International surpassed 100 million TEUs in 2024, marking a historic annual container handling milestone. Its Singapore flagship terminal handled 40.9 million TEUs (up 5.5%), while global terminals contributed 59.2 million TEUs (up 5.7%).
Group Chairman Peter Voser credited the achievement to resilience amid economic challenges, highlighting PSA's confidence in navigating future uncertainties with support from its team, customers, and partners.
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HMM Tacoma Awaits CO2 Recharge Post-Fire
The HMM Tacoma, a 6,350 TEU container ship, has been anchored near Ngqura, South Africa, since January 5 following a fire in one of its container holds off Mozambique.
The fire, detected on December 29, was extinguished using carbon dioxide. HMM confirmed some cargo was offloaded at Coega port for safety. Once the CO2 supply is recharged, the vessel will resume its Far East-India-Latin America service as scheduled.
ONE, HMM Introduce Far East-South America Service
Ocean Network Express (ONE) and HMM are introducing a new shipping service connecting the Far East with South America in April 2025. Dubbed SX2 by ONE and FL2 by HMM, the service links key Asian ports with Brazilian hubs like Rio Grande and Santos.
A dedicated River Plate feeder service will also connect Brazil with Argentina and Uruguay, addressing growing trade demands between the regions with competitive transit times.
Container shipping demolition challenge set to commence.
Container ship scrapping is expected to rise sharply through 2027, driven by overcapacity and weaker market conditions. Analysts forecast over 200,000 TEU could be scrapped in 2025, primarily smaller, ageing vessels.The Hong Kong Convention on recycling may challenge substandard yards, but many owners are extending vessel lifespans with technical upgrades. Despite 2024's charter market boom, industry players face growing pressure as new deliveries continue to reshape the market.
Dali Returns to Service Following Baltimore Bridge Incident Repairs
The Maersk-chartered container ship Dali has resumed service after two months of repairs, following its collision with the Francis Scott Key Bridge in Baltimore in March 2024.
After undergoing salvage operations and repairs at the Luoyuan Bay Huadong Shipyard, Dali has been reassigned to Maersk’s AC3 Asia-Central America service. The incident, caused by a reported power outage, resulted in the deaths of six workers and a six-month halt in the vessel's operations. Dali’s owners agreed to a $10 million settlement.
Cosco Blacklisted by U.S. Over Alleged Ties to Chinese Military
The U.S. Department of Defense has blacklisted China Cosco Shipping Corp. Ltd. and its subsidiaries, labeling them “Chinese military companies” under the Defense Reauthorization Act.
Cosco, the fourth-largest container carrier, operates over 504 ships. Other blacklisted firms include China Shipbuilding Trading Co., CSSC, CRRC Corp., and CIMC. While the designation imposes no penalties, it complicates U.S. partnerships, raising compliance costs and reputational risks. This follows earlier actions against Huawei and ongoing scrutiny of ByteDance, reflecting growing U.S.-China tensions.
CMA CGM Implements Rate Increases for US-Bound Shipments
CMA CGM has announced adjustments to its shipping rates for services to the United States.
From 1 February 2025, a peak season surcharge of US$1,000 per unit will apply to shipments from the Indian Subcontinent, Middle East Gulf, Red Sea, and Egypt to the US East Coast and Gulf.Additionally, starting 17 January 2025, a rate restoration initiative will increase rates by US$350 per TEU and US$700 per FEU for shipments from Guyana and Suriname to the United States.
Gaza Truce Talks May Revive Red Sea Shipping
Ceasefire discussions in Qatar between Israel and Hamas raise hope for resolving the Red Sea shipping crisis caused by the war since October 2023. A potential truce may end Houthi attacks on vessels in the Red Sea and Gulf of Aden, which have rerouted global trade.
Though no 2025 ship strikes are reported, experts urge caution until agreements are verified, emphasizing the need for long-term stability in Yemen. The crisis has driven freight rates higher for over a year.
Hutchison Ports Thailand Expands Terminal D Operations
Hutchison Ports Thailand (HPT) Terminal D has received four remote-controlled super post-panamax quay cranes and eight rubber-tyred gantry cranes, boosting its operational capacity. These cranes, the largest in Thailand, can handle containers stacked 10 high and 24 rows wide.
Terminal D now operates 14 quay cranes, with more equipment arriving by early 2026. The expansion, coupled with upgraded container stacking areas and automated truck gate lanes, aims to enhance yard flow and vessel productivity.
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Wallenius Wilhelmsen Secures 12-Year Gothenburg Deal
Wallenius Wilhelmsen has won a 12-year terminal contract at the Port of Gothenburg, Scandinavia's largest vehicle hub, starting February 2026. The company plans to transform the terminal into a "one-stop-shop" for carriers and customers, enhancing its supply chain services and operational capabilities.
This strategic move aims to strengthen Wallenius Wilhelmsen's logistics network while supporting sustainable growth. The terminal will connect the Nordics to key global regions, including the Far East, North America, Africa, and Northern Europe.
Port NOLA Secures $1M EPA Grant for Terminal Project
The Port of New Orleans (Port NOLA) received a $1 million EPA grant to support the Louisiana International Terminal (LIT) Sustainability Management Plan. Located in Violet, Louisiana, LIT will boost import-export capacity by accommodating the largest vessels from the Panama Canal.
The funding supports workforce development, sustainability programs, and resilient infrastructure under the Envision framework. With $800 million from private partners Ports America and MSC, construction of this major economic project is expected to begin in 2025.
Baltimore Bridge Disaster Ship Dali Repaired
The container ship Dali, known for its collision with the Francis Scott Key Bridge in March 2024 that closed Baltimore's port, has completed repairs in China.
The vessel, owned by Grace Ocean and managed by Synergy Marine, arrived at Fujian Huadong shipyard on November 13, 2024, and finished repairs 10 days ahead of schedule. Previously chartered by Maersk, the Singapore-registered Dali now looks as good as new and has resumed sailing following a successful overhaul.
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Maersk Adjusts Peak Season Surcharge Rates
Danish ocean carrier Maersk has announced a revision to its peak season surcharge (PSS) for dry containers shipped from Far East Asia, excluding Taiwan and China, to the East Coast of South America. Effective 20 January 2025, the updated surcharge levels are set at USD 250 for all 20’ dry containers, USD 300 for all 40’ dry containers, and USD 300 for 45HDRY containers.
This adjustment applies to shipments originating from countries such as Brunei, Japan, Indonesia, South Korea, and Vietnam, destined for Argentina, Brazil, Paraguay, and Uruguay.
Ocean Alliance Unveils 2025 Service Network
Ocean Alliance, comprising CMA CGM, COSCO, Evergreen, and OOCL, has unveiled its 2025 service network and extended their collaboration until 2032. Remaining the only unchanged shipping alliance after February 2025, their updated lineup launches in April, covering key trade lanes across the Transpacific, Asia-Europe, Mediterranean, and Transatlantic regions. Highlights include nine Pacific Southwest services, seven Asia-North Europe loops, and expanded Gulf and East Coast routes. New additions like the Pacific South China Express (PSX) enhance connectivity, ensuring comprehensive global coverage for efficient and sustainable shipping solutions.
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ZIM Joins Coalition to Reduce Cold Chain Emissions
ZIM has joined the “Move to -15” coalition, an initiative aimed at reducing emissions in the cold chain sector by raising the standard frozen cargo temperature from -18°C to -15°C. This adjustment could prevent 17.7 million metric tons of CO₂ emissions annually, according to ZIM. Leveraging its advanced reefer containers and ZIMonitor service, the company ensures optimal cold chain conditions.
David Arbel, ZIM EVP COO, stated: “As part of our ESG commitment, we’re proud to support sustainable solutions that make cold chain logistics eco-friendlier and cost-effective.”
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Cosco Shipping Expects 95% Profit Surge in 2024
Chinese shipping giant Cosco Shipping Holding has forecast a record net profit of RMB 55.37 billion ($7.55 billion) for 2024, marking a 94.99% increase compared to 2023.
The company attributed the growth to moderate cargo volume expansion, high freight rates driven by regional supply disruptions in the Red Sea, and strategic enhancements in its container shipping business. Cosco focused on innovation, digital intelligence, green initiatives, and strengthening global supply chains to bolster its competitive edge.
Elbdeich Orders More Boxships from Wenchong
German shipowner Elbdeich Reederei has placed an order for two 1,900 TEU containerships at China’s Wenchong Shipyard, priced at $32.2 million each, with options for two additional vessels. Unlike its earlier methanol dual-fuel 1,300 TEU boxships ordered in October 2023, these newbuilds will be conventionally fueled and delivered in early 2027.
Elbdeich, which manages a fleet of over 30 ships, has its 2023 orders backed by DP World’s Unifeeder. The global containership orderbook hit a record 8.3 million TEU in 2024, with more large-vessel orders anticipated soon.
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Bill Introduced to Reacquire Panama Canal Control
Legislation has been introduced in Congress to allow President-elect Donald Trump to negotiate repurchasing the Panama Canal. The bill, introduced by Rep. Dusty Johnson (R-S.D.), highlights national security concerns over China’s influence in the region, citing its involvement in Panama's Belt and Road Initiative and control of ports near the canal. The canal, a vital transit route for U.S. shipping and defense vessels, is seen as critical for America's economic and strategic interests. Panama’s leadership, however, dismissed the claims, emphasizing the canal remains under Panamanian control.