MSC Archives - The Loadstar Making sense of the supply chain Fri, 01 Nov 2024 18:46:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 ‘Desperate’ GRIs by carriers prop up Asia-Europe spot rates, for now https://theloadstar.com/desperate-gris-by-carriers-prop-up-asia-europe-spot-rates-for-now/ https://theloadstar.com/desperate-gris-by-carriers-prop-up-asia-europe-spot-rates-for-now/#respond Fri, 01 Nov 2024 13:39:54 +0000 https://theloadstar.com/?p=284052 Container shipping lines on the main east-west trades this week managed to reverse 15 weeks of consecutive declines in spot freight rates by managing to push through a general rate increase on ex-Asia loadings.
This week’s Drewry World Container Index (WCI) saw the spot rate on the Shanghai-Rotterdam leg rise 8% week on week, to $3,396 per 40ft, while the Shanghai-Genoa leg grew 11%, to $3,648 per 40ft.
One European forwarder told ...

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Across the pond – carriers get their act together https://theloadstar.com/across-the-pond-carriers-get-their-act-together/ https://theloadstar.com/across-the-pond-carriers-get-their-act-together/#respond Wed, 30 Oct 2024 12:13:17 +0000 https://theloadstar.com/?p=283810 The fundamentals of demand and supply in the container shipping market have been at work in the transatlantic trade in recent weeks, demonstrating once again how much the market is governed by basic economic laws.
Here comes a bit of healthy reporting today.
While spot freight rates on the transpacific and Asia-Europe trades have been on a long downward slope for weeks now, the Europe-North America routes have been remarkably robust by ...

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MSC ship first in line for delays with Montreal dockers set for Sunday strike https://theloadstar.com/msc-first-in-line-for-disruption-as-montreal-dockers-call-sunday-strike/ https://theloadstar.com/msc-first-in-line-for-disruption-as-montreal-dockers-call-sunday-strike/#respond Thu, 24 Oct 2024 19:06:19 +0000 https://theloadstar.com/?p=283465 Strike action is set to resume at Canada’s largest container gateway, Montreal, after the Maritime Employers Association (MEA) received a strike notice today from the Port of Montréal Longshoremen’s Union, CUPE Local 375.
The 24-hour action will see a complete stoppage of work on port territory, including the Contrecœur terminal, from Sunday at 7am until 6:59am the following day.
But an MEA statement predicted the effects of the coming strike would be ...

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Nickels and dimes: Wilson Sons 10% down on MSC buy. Why? https://theloadstar.com/nickels-and-dimes-wilson-sons-10-down-on-msc-buy-why/ https://theloadstar.com/nickels-and-dimes-wilson-sons-10-down-on-msc-buy-why/#respond Tue, 22 Oct 2024 11:38:58 +0000 https://theloadstar.com/?p=283205 A couple of things caught the attention of our marketplace in the immediate aftermath of the announcement that the world’s dominant container line, Mediterranean Shipping Company (MSC), is set to take majority control* of Brazil’s Wilson Sons (WS) in a deal initially worth almost $770m, that will ultimately value the target at $1.43bn, on a fully diluted basis.
(*Via a 56.47% stake; putting the target’s market cap $50m lower at $1.38bn ...

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MSC takes over Brazil’s Wilson Sons in $767m deal https://theloadstar.com/msc-takes-over-brazils-wilson-sons-in-767m-deal/ https://theloadstar.com/msc-takes-over-brazils-wilson-sons-in-767m-deal/#respond Mon, 21 Oct 2024 07:31:03 +0000 https://theloadstar.com/?p=283061 It didn’t come unexpected, did it?
After takeover talk that started in mid-2023, with Wilson Sons stock trading at BRL10.5 on 9 June last year, the Brazilian conglomerate, now worth $1.38bn in market cap, has finally been taken over by container shipping leader Mediterranean Shipping Company (MSC), which was originally rumoured to be the likely buyer well over a year ago. 
Implied premium to the target’s unaffected share price, on that basis: ...

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Capacity squeeze will ease as more newbuilds arrive, says Xeneta https://theloadstar.com/capacity-squeeze-will-ease-as-more-newbuilds-arrive-says-xeneta/ https://theloadstar.com/capacity-squeeze-will-ease-as-more-newbuilds-arrive-says-xeneta/#respond Tue, 15 Oct 2024 12:27:13 +0000 https://theloadstar.com/?p=282754 Additional tonnage being introduced to the ocean shipping market next year presents “an opportunity for shippers” to use the broad spectrum of carrier alliance strategies to their advantage.  
In Xeneta’s 2025 ocean shipping forecast, the analytics platform says “a large-scale return to the Red Sea seems inconceivable at present”, but a partial return could be on the cards for some carriers. 
Senior shipping analyst Emily Stausbøll advised: “This situation creates an ...

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Halifax a winner as vessels re-route due to US east coast strike https://theloadstar.com/halifax-a-winner-as-vessels-re-route-due-to-us-east-coast-strike/ https://theloadstar.com/halifax-a-winner-as-vessels-re-route-due-to-us-east-coast-strike/#respond Mon, 14 Oct 2024 12:18:55 +0000 https://theloadstar.com/?p=282628 The Canadian east coast gateway of Halifax – and, by extension, port operator PSA which runs its two container terminals – has emerged as the main winner from the three-day ILA stoppage on the US east and Gulf coasts.
“Despite the Chinese Golden Week contributing to a temporary rise in blank sailings, Halifax saw increased activity during the ILA strike, with 25 vessel calls, up from 14 the week prior,” eeSea ...

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Spot rates ex-Asia still falling, despite USEC congestion, with more blanks https://theloadstar.com/spot-rates-ex-asia-still-falling-despite-usec-congestion-with-more-blanks/ https://theloadstar.com/spot-rates-ex-asia-still-falling-despite-usec-congestion-with-more-blanks/#respond Fri, 11 Oct 2024 12:34:26 +0000 https://theloadstar.com/?p=282540 Container spot freight rates on the main trades out of Asia continued to fall this week, as the resumption of operations at US east and Gulf coast ports eased industry congestion fears.
Nonetheless, the three-day stoppage by ILA members ensnared up to 70 vessels in the region, leaving an inevitable backlog that will take time to clear – estimates vary from “a matter of days” to “two or three weeks”, although ...

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Looming ‘indefinite’ strike set for the Port of Montreal as tensions rise https://theloadstar.com/looming-indefinite-strike-set-for-the-port-of-montreal-as-tensions-rise/ https://theloadstar.com/looming-indefinite-strike-set-for-the-port-of-montreal-as-tensions-rise/#respond Tue, 08 Oct 2024 12:01:33 +0000 https://theloadstar.com/?p=282197 Labour tensions are rising at the Port of Montreal in the countdown to an “indefinite strike”, while carriers push to hike rates on the transatlantic.  
The Port of Montreal Longshoremen’s Union has issued an overtime strike notice to begin at 7am on 10 October, set to last indefinitely. This follows a three-day strike that halted operations at two of the busy Canadian seaport’s terminals last week. 
After the union announced that ...

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Shippers to opt for direct port calls over speed of service, predicts MSC’s Soren Toft https://theloadstar.com/shippers-to-opt-for-direct-port-calls-over-speed-of-service-predicts-mscs-soren-toft/ https://theloadstar.com/shippers-to-opt-for-direct-port-calls-over-speed-of-service-predicts-mscs-soren-toft/#respond Tue, 08 Oct 2024 10:02:33 +0000 https://theloadstar.com/?p=282142 MSC chief executive Soren Toft has predicted that global supply chains will increasingly fragment in the near future, leaving shippers prioritising direct port calls over speed of service.
In a keynote speech delivered this morning at the opening session of the International Association of Ports Harbours (IAPH) annual World Port Conference, Mr Toft explained that the carrier’s recently published standalone 2025 service network reflected a belief that supply chains are undergoing ...

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