World News
Consultancy Warns of 'Unprecedented' Capacity Injection in Transpacific Boxship Trade
There has been an 'unprecedented' addition of container ship capacity to the Transpacific trade for the fourth quarter of this year, according to shipping consultancy Sea-Intelligence.
The eight-week rolling average capacity growth in the Transpacific trade has surged beyond 20%, the highest level since the company started recording this measure in 2012, Sea-Intelligence said in an emailed statement Monday.
"The Transpacific trade stands out, with unprecedented capacity increases in Q4," the company said.
"We are now at a point in time where capacity has grown more than 20% on a year-on-year basis, which significantly exceeds what we have seen in the past."
Container freight is the largest source of bunker demand in the shipping industry.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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