Industry Trends

Port Expansions, Service Restarts, and Rate Strategies Shaping 2024

March 22, 2024

 

This week’s market update highlights significant developments across global trade lanes as we head into 2024. Maersk’s trans-Pacific service resumes to address early import surges, while THE Alliance reinstates suspended routes amidst rising demand. India-US carriers reduce spot rates to stimulate bookings, signaling competitive shifts. Port expansions in Charleston and Haiphong aim to enhance capacity and efficiency, further shaping market dynamics. Meanwhile, the Ocean Alliance announces key network adjustments, influencing direct connectivity and service offerings. These updates provide critical insights for strategic decision-making as the industry adapts to evolving capacity, demand, and rate trends.

 

Maersk’s Trans-Pacific Service Resumes Amidst Early ’24 Import Surge

 

OOCL’s 2023 Net Profit Declines Despite Market Normalization

 

Expansion Plans for North Charleston Terminal Unveiled by SC Ports

 

APM Enhances Haiphong Port Terminal Development Partnership

 

India-US Carriers Lower Spot Rates to Encourage Bookings

 

THE Alliance Restores Trans-Pacific Services Amidst Rising Asia Imports

 

The updates below concern the Ocean Alliance’s network modifications for designated regions and services.

Category Description
Pacific Southwest Services Update
Consistency in Service Number Transpacific services maintain the same count as last year, with 20 in total,

8 of which cater to the Pacific Southwest region.
Individual Service Changes
PCC1 Service Adjusts port calls, with Busan now solely serving as the last outbound call

to Long Beach.
PCS1 Service Significant port coverage alteration, including the addition of Haiphong,

resulting in the elimination of direct calls from Fuqing.
PCS2 Service Removes direct calls to Xiamen and Hong Kong, reducing direct service

options.
VCS Service Removes Oakland port call, introduces Kaohsiung as the first Asian port call

from Long Beach.
Impact on Direct Connectivity
Implication on Direct Service Reduction in direct services to Xiamen and Hong Kong from the Pacific

Southwest.
Capacity Summary Oakland now has 2 direct services to Asia instead of 3.
Pacific Northwest Services Update
PNW3 Service Adjusts port call sequence in Asia with calling at Kaohsiung first, then

Ningbo at the last calling port in Asia
PNW4 Service Unchanged for Ocean Alliance, but OOCL-specific changes noted, with the

removal of an additional call in Shanghai when sailing back from Vancouver.
US East and Gulf Coasts Services Update
ECC2 Service Removes Boston port call, impacting direct service to the East Coast.
ECC3 Service OOCL introduces additional calls in Port Klang, Haiphong, and Yokohama,

enhancing connectivity to the US East/Gulf Coast.
ECX1 Service Drops Colon call, adds Laem Chabang call, offering a new direct connection

to the US East/Gulf Coast.
GCC2 Service Drops Colon and Balboa calls, enhancing flexibility in routing options.
GCC1 Service Ocean Alliance removes a call in Hong Kong, affecting direct connections to

the US East/Gulf Coast.

 

Industry Trends