Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.
The container shipping lines received an average rate 7% (42 USD) lower in 2016 than in 2015, if they operated in the spot market on all Shanghai Containerized Freight Index (SCFI) trade routes. This has primarily been due to the devastating low rates received in the first half of 2016, as the average rate received in H2 2016 was 22% higher than the rate received in H2 2015.
A new time charter sanctions clause specifically designed for the container shipping sector has been published by BIMCO. The BIMCO Sanctions Clause for Container Vessel Time Charter Parties 2021 is part of an initiative to create a library of sanctions clauses that reflect the individual needs and characteristics of different trades and operations.
BIMCO representatives from the Maritime Information Department have attended the 5th session of the International Maritime Organization’s (IMO) Sub-Committee on Carriage of Cargoes and Containers (CCC 5), held at the IMO London headquarters from 10 to 14 September 2018.
Since February, freight rates on the three key container shipping lanes has left the erratic up and down movements behind only to slide week after week.
There is room for some optimism in the container ship business, as witnessed by the number of loaded containers going into the ports on the US West Coast. Here, demand increased by 1.7% during 2012, more than making up for the fall in demand in 2011.
US economic growth and its accompanied consumer spending is on the rise – as shown by key indicators followed by BIMCO’s shipping market analyst – and will result in stronger demand for container shipping.
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