Page 6 - Al-Rashed Newsletter February 2022

SHIPPING WORLD

All-inclusive rates stable as market awaits new direction
All-inclusive container shipping rates from North Asia to North America held
steady in the week to Feb. 25, but shipping lines were more bullish as cargo
loading in China ramped up towards the end of the month.
Space on ships was still sometimes available from North Asia on a Freight All
Kinds Basis, assessed by Platts to the West Coast at $9,500/FEU on Feb.
25, but almost exclusively from South China at that level, while rates from the
north of the country hovered in the $11,000-$13,000/FEU zone.

Shippers prepare as Ukraine crisis prompts emergency fuel surcharges
Shippers are bracing for a raft of emergency bunker surcharges from ocean
carriers, as oil prices hit eight-year highs.
Following Russia’s invasion of Ukraine, the price of crude oil has soared to
its highest level since 2014, to more than $105 a barrel, with analysts
predicting $130 within weeks.
Meanwhile, Rotterdam-sourced low-sulphur fuel oil (LSFO) spiked yesterday
by more than $30, to $731.50 a ton, a 40% increase since December.

Suez Canal tolls to rise from next month
Egypt’s Suez Canal Authority said yesterday it will be increasing canal tolls
by up to 10% for laden and ballast vessels from the start of next month.
Justifying the increase, the Suez Canal Authority said the decision was “in
line with the significant growth in global trade, the improvement of ships’
economics, the Suez Canal waterway development and the enhancement of
the transit service”.
The canal has kicked off a significant, multi-million dollar expansion plan for
its southern waterway in the wake of last year’s grounding of the Ever Given
containership.

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Source: www.splash247.com, www.loadstar.com, www.hellenicshippingnews.com