Latest news with #Hapag-Lloyd
Yahoo
27-05-2025
- Business
- Yahoo
Maersk, Hapag-Lloyd partner on new Asia-Long Beach service
Maersk (OTC: AMKBY) and Hapag-Lloyd (OTC: HPGLY) announced new container services from East Asia to the U.S. Port of Long Beach. The additions by the Gemini Cooperation partners, which include the redeployment of at least one ship back into the eastbound trans-Pacific to U.S. West Coast trade, come as carriers scale up during a 90-day pause in reciprocal tariffs by China and the United States. Maersk's Gemini TP9 service will be covering East China and North East Asia to Long Beach. The port rotation is Xiamen, China – Busan, South Korea – Long Beach – and return to Xiamen. The first sailing is the 4,600-TEU Rhone Maersk on June 24, with a return from Long Beach scheduled for July 15. The ship is being phased out of a West Africa-Asia will operate the 4,250-TEU Synergys Keelung on the same eastbound rotation from Xiamen on July 1. The new service adds an additional 1.2% of capacity to the Pacific trade into the U.S. West Coast, said analyst Lars Jensen, in a LinkedIn post. In the past week container vessel capacity on the trans-Pacific grew by 11%, according to Sea-Intelligence. Also, Maersk hiked its peak season surcharge from the Indian Subcontinent and Middle East to the U.S. and Canada East and Gulf coasts. The charge increases from up to $500 depending on origin/destination to an additional $500 as of next Monday from South and East India, Sri Lanka, Bangladesh, and Pakistan. The carrier said as of June 16, across-the-board surcharges will be $1,500-2,000 per said waiting times are rising at North China and other ports due to congestion, and intermittent port closures caused by strong winds and dense fog. Wait times range from 24-72 hours at Shanghai Yangshan; 24-36 hours at Ningbo, China; 24-72 hours at Qingdao, China; 12-36 hours at Singapore; an average of 18 hours at Busan, South Korea but 72 hours at PNIT Terminal. Japan's Yokohama has waits from 12-24 hours. Find more articles by Stuart Chirls more than halfway through $1B stock buyback Drewry: China-US container rates up by double digits Savannah sees record containers amid tariff frenzyZim profit up on higher container volume, rates The post Maersk, Hapag-Lloyd partner on new Asia-Long Beach service appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
27-05-2025
- Business
- Business Times
Port congestion at Asian ports reported; Singapore's average waiting time up to 1.5 days
[SINGAPORE] Port congestion has been reported at Asian ports, with Singapore being one of those impacted – the berth waiting time at the world's top transhipment hub is said to be between 12 and 36 hours. Liner Hapag-Lloyd's customers were updated as at May 26 that some Asian ports were facing increased waiting times due to berth congestion. The Chinese ports of Shanghai and Qingdao were among the worst hit, with the average hold-up ranging from 24 to 72 hours. China's Ningbo, South Korea's Busan and Japan's Yokohama ports were reportedly seeing average waiting times of 24 to 36 hours, 18 hours, and 12 to 24 hours, respectively. The longer waiting times at Singapore were due to vessel bunching and congestion, the liner said. The Business Times has reached out to port operator PSA Singapore for comment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Similarly, Kuehne+Nagel has pointed out that Singapore was 'heavily disrupted' – as was the neighbouring Port Klang in Malaysia. Vessels calling at the Republic's port have had an average waiting time of around 1.82 days over the last seven days, said the freight forwarder in its weekly update. 'The port is seeing several vessels arrive at once. Transhipment cargo is delayed by one to two weeks.' Port Klang's berth congestion has resulted in the average vessel waiting time to be around 1.46 days, based on Kuehne+Nagel data. 'Some vessels can wait up to 2.5 days. Yard congestion is around 90 per cent, reducing productivity.' Data service EconDB numbers showed that the dwell times for transhipments at Singapore port averaged 9.5 days as at May 19, against the peak of 10.8 days in late May 2024 and the average of 7.6 days since March 2022. Earlier, analysts cautioned that port congestions in Europe might have spillover impact on Asian trade lanes. Meanwhile, cargoes from countries and economies given a 90-day reprieve from reciprocal tariffs by the United States have been rushing out of ports since the pause was announced on Apr 9. Mainland China got its truce with the US on May 12, unleashing a wave of shipments including those had been held back from April to mid-May. Total capacity on the Transpacific – primarily from Asia to the US – is set to rebound sharply in the coming four weeks, with an average of over 560,000 twenty-foot-equivalent units (TEUs, a measure of freight capacity) departing from Asia to the US weekly. This is about 50 per cent more than the previous fortnight. The higher supply is expected to rein in the rise in freight rates for the Transpacific trade lanes, after the US-China trade detente arrested the decline in the shipping costs. Last year, port congestion prompted some liners to skip Singapore after berthing delays at the South-east Asian transhipment hub hit a historic high – caused by some operators that discharged more containers there as they scrapped subsequent voyages to catch up on their next schedules amid Red Sea detours.
Straits Times
25-05-2025
- Business
- Straits Times
Shipping bottlenecks in Europe send warning signal to US, Asia
US tariffs – combined with sudden threats and truces – make it difficult for shippers to calibrate their orders, causing unseasonal swings in demand. PHOTO: REUTERS LONDON – Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the United States and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report on May 23 from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fueled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hapag-Lloyd, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control.' Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on May 25 that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Mr Slok wrote. US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on May 23, when Mr Trump threatened to hit the European Union with a 50 per cent tariff on June 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on May 24. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on May 23 that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half.' Mr Trump on May 25 said that he pause his 50 per cent tariffs against the EU until July 9 as trade negotiations continue. But mounting uncertainty about whether he would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping Co., the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. On the webinar, Mr Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Mr Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
25-05-2025
- Business
- Business Times
Shipping bottlenecks in Europe send a warning signal to US, Asia
[LONDON] Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report on Friday (May 23) from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific eastbound trade is showing signs of an early peak season, fuelled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd, said on a webinar last week that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago has not yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. EU-US dispute US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on Friday, when Trump threatened to hit the European Union with a 50 per cent tariff on Jun 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on Friday that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half'. Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping, the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. Avoiding 'massive congestion' On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG
Business Times
25-05-2025
- Business
- Business Times
Europe's shipping bottlenecks expected to persist into July
Port congestion is worsening at key gateways in northern Europe and other hubs, according to a new report which suggests trade wars could spread maritime disruptions to Asia and the US and push up shipping rates. Waiting times for berth space jumped 77 per cent in Bremerhaven, Germany, between late March and mid-May, according to the report last Friday (May 23) from Drewry, a maritime consultancy in London. The delays rose 37 per cent in Antwerp and 49 per cent in Hamburg over the same stretch, with Rotterdam and the UK's Felixstowe also showing longer waits. Labour shortages and low water levels on the Rhine River are the main culprits, hindering barge traffic to and from inland locations. Compounding the constraints is US President Donald Trump's temporary rollback on 145 per cent tariffs on Chinese imports, which has pulled forward shipping demand between the world's largest economies. 'Port delays are stretching transit times, disrupting inventory planning and pushing shippers to carry extra stock,' Drewry said. 'Adding to the pressure, the transpacific east-bound trade is showing signs of an early peak season, fuelled by a 90-day pause in US-China tariffs, set to expire on Aug 14.' Similar patterns are emerging in Shenzhen, China, as well as Los Angeles and New York, 'where the number of container ships awaiting berth has been increasing since' late-April, it said. Rolf Habben Jansen, chief executive officer of Hamburg-based Hapag-Lloyd, said on a webinar recently that, although he's seen recent signs of improvement at European ports, he expects it will take 'another six to eight weeks before we have that under control'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Still, Torsten Slok, Apollo Management's chief economist, pointed out in a note on Sunday that the US-China tariff truce reached almost two weeks ago hasn't yet unleashed a surge in ships across the Pacific. 'This raises the question: Are 30 per cent tariffs on China still too high? Or are US companies simply waiting to see if tariffs will drop further before ramping up shipments?' Slok wrote. EU-US dispute US tariffs – combined with sudden threats and truces – make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand. For shipping lines, those translate into delays and higher costs requiring freight rate hikes. The latest blow to visibility came on Friday, when Trump threatened to hit the European Union with a 50 per cent tariff on Jun 1, a move that could roil transatlantic trade. 'The additional policy uncertainty will be a deadweight cost to global activity by adding risks to decisions on expenditures,' Oxford Economics said in a research note on Saturday. Germany, Ireland, Italy, Belgium and the Netherlands are the most vulnerable given their ratios of US exports to GDP, it said. Bloomberg Economics said in a research note on Friday that 'additional tariffs of 50 per cent would likely reduce EU exports to the US for all products facing reciprocal duties to near zero – cutting total EU exports to the US by more than half'. Mounting uncertainty about whether Trump would follow through on such a big trade threat or postpone it like he did with China is adding to shipping pressures. Carriers including MSC Mediterranean Shipping, the world's largest container line, had already announced general rate increases and peak season surcharges, starting in June, for cargo from Asia. In the weeks ahead, those are likely to boost spot rates for seaborne freight, the cost of which is still underpinned by geopolitical turmoil. Cargo ships are still largely avoiding the Red Sea, where Yemen-based Houthis started attacking vessels in late 2023, and sailing around southern Africa to ferry goods on routes that connect Asia, Europe and the US. On the webinar, Habben Jansen said it's still not safe to traverse the Red Sea and indicated that any eventual restoration of regular journeys through the Suez Canal would have to be gradual, perhaps taking several months, to avoid flooding ports with vessel traffic. 'If we would from one day to another shift those ships back through Suez, we would create massive congestion in many of the ports,' Habben Jansen said. 'So our approach would be that if we can do it, that we do it over a longer period of time so that the ports do not collapse, because that's in nobody's interest.' BLOOMBERG
