The Dispatch - Week 31

Rates

Spot rates have taken a noticeable drop in the last week with options on various lines all falling below the $9000 mark. The usual peak season increase has not materialised, and though rates are still being held up by blanked sailings and congested ports, it’s looking like rates will drop further this year.

Below is a nice graph detailing the spot v contract situation from Beacon

XSI® - C

Report a figure of $9,564 per 40’ container (FEU) dated 02/08/22 (down 3.89% WoW)

FBX

Report a figure of $10,463 per 40’ container (FEU) dated 05/08/22 (up 9% WoW)


News

The switch to CDS deadline is looming and HMRC are urging any importers who have not registered to get a move on. Just to rub it in a little more to cash strapped shippers, Maersk adjusts its earnings forecast by another £7mill!, but at least the vessels are starting to run a little more reliably for that premium you are paying.

HMRC says time running out to move to new UK customs reporting platform - The Loadstar
HMRC has ramped up its “hectoring” of traders to switch to its new customs system before September’s deadline, but sources warn it would “be mad” to turn off the current system.
Liner schedule reliability improves for the first time since the start of the pandemic - Splash247
For the first time since the start of the pandemic liner schedule reliability has improved on a year-on-year basis, but six out 10 boxes are still arriving at port late to the consternation of shippers forking out freight prices five times their historical average. “Global schedule reliability seems…
Optimistic Maersk pumps up earnings forecast for the year by another $7bn - The Loadstar
Maersk has upgraded its guidance for the full-year by $7bn, reflecting higher than anticipated earnings.

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