Capacity boost on transpacific
Lines add space as new contracts begin
Transpacific carriers have begun to increase capacity on the trade, following the start of new annual contracts, according to analyst AXS Alphaliner.
The Paris-based firm said carriers had added 50,000teu of weekly capacity to the trade, representing a 17% increase in slots, since January.
Alphaliner said the increase in capacity on the trade was larger than that introduced to the Far East-Europe trade.
“The surge of service re-launches and capacity upgrades coincides with the beginning of the new annual Transpacific contract season,” the analyst said. “A total of 14 transpacific services were launched in April and May, of which four are replacement loops.
“These services introduced a total of 37,400teu of additional weekly capacity, at a time when space had become extremely tight on the transpacific.”
Alphaliner said the remainder of the capacity increases were due to vessel upgrades on existing services.
The additional capacity had been significantly higher than that withdrawn in late 2009 for the winter season, and had been encouraged by rate increases since January, it added.
But it seems the additional capacity has not been enough to cater for increasing demand.
Sources told IFW the transpacific is being characterised by a lack of space and available boxes, which has prompted the US Federal Maritime Commission to launch an investigation into whether this has affected US trade.
And the lack of space has been reflected by increases in rates, said Alphaliner.
“Spot freight rates on the eastbound transpacific trade have risen by over US$1,200/feu after two successful rounds of rate increases.”
Transpacific carriers first applied an emergency revenue charge of $400/feu on 15 January, followed by a general rate increase of $800/feu on 1 May.
Alphaliner said a peak-season surcharge of $400/feu, due to be applied from August, has also been brought forward by some of the carriers to next month.
The Paris-based firm said carriers had added 50,000teu of weekly capacity to the trade, representing a 17% increase in slots, since January.
Alphaliner said the increase in capacity on the trade was larger than that introduced to the Far East-Europe trade.
“The surge of service re-launches and capacity upgrades coincides with the beginning of the new annual Transpacific contract season,” the analyst said. “A total of 14 transpacific services were launched in April and May, of which four are replacement loops.
“These services introduced a total of 37,400teu of additional weekly capacity, at a time when space had become extremely tight on the transpacific.”
Alphaliner said the remainder of the capacity increases were due to vessel upgrades on existing services.
The additional capacity had been significantly higher than that withdrawn in late 2009 for the winter season, and had been encouraged by rate increases since January, it added.
But it seems the additional capacity has not been enough to cater for increasing demand.
Sources told IFW the transpacific is being characterised by a lack of space and available boxes, which has prompted the US Federal Maritime Commission to launch an investigation into whether this has affected US trade.
And the lack of space has been reflected by increases in rates, said Alphaliner.
“Spot freight rates on the eastbound transpacific trade have risen by over US$1,200/feu after two successful rounds of rate increases.”
Transpacific carriers first applied an emergency revenue charge of $400/feu on 15 January, followed by a general rate increase of $800/feu on 1 May.
Alphaliner said a peak-season surcharge of $400/feu, due to be applied from August, has also been brought forward by some of the carriers to next month.
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