200 containers not floating around the North Sea200 containers floating around the North Sea - not good!
I'll bet!! Aside from the issues you highlight some docks have seen mass Covid-19 quarantines owing to the proximity of work conditions. Net-net, skyrocketing Shanghai to US West Coast rates have underpinned this record spike in container rates, but the supply-side remains nervous about a possible recession next year and the poor visibility surrounding post-pandemic, post-Christmas, post-restocking market conditions.
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That's the index figure for all exports out of Shanghai. Asia-USWC has flatlined since China got antsy about rates a few months ago. They're high, but we're talking about $4k to send a 40ft box across the Pacific.
That adds about $0.03 to the average pair of trainers, for example.
200 containers not floating around the North Sea
The German Coast Guard deployed the multipurpose ship Neuwerk to the area in the North Sea, approximately 200 nautical miles from Elbe estuary, where, according to fishermen, many containers were lying on the bottom, this morning. Sonar images were to be taken at the White Bank late this afternoon. The Urk fisherman was the first to spot sonar objects near the tip of the bank on Dec 3. When he passed them again later, he noticed them once more and estimated the number to be near 200.
Ah right; thanks. Not ideal for bottom trawling then, but not so much of a problem for yachties and the like.
This sort of “weather bomb” is a known hazard of the North Pacific trade lane.
Many years ago, an OCL ship, the “Falmouth Bay”, on charter to Mitsui OSK, ran into the same trouble in the same area, and lost, if I recall correctly, around a hundred containers. and also put back to Japan.
For some reason I remember that she was commanded by John Fee and her Chief Officer was Charles Woodward, who probably should have got a medal for a remarkable act of bravery in entering the flooded under deck alleyway from the deck, in F12, taking a manhole cover off and draining the several hundred tons of water acting as free surface and impacting on the engine room to alleyway weather tight doors, into the bilge. In the water, in the dark and freezing cold
She was all of 1,200 TEU. It was a simpler age, but she was being weather routed by Oceanroutes. The late, great, Euan Corlett was asked to advise. He looked at some photos of the deck, taken in Japan, and said:
“The ladder on the fore side of the foremast has been flattened against it to a height of twelve rungs, so solid water crossed the foredeck at that height. We know the scantlings of the foremast, from the Class Rules. It has been bent back at deck level, so simple column theory tells us that the impact load on each container was (whips out scientific calculator) - eight hundred tons. Which is why they are no longer there.”
It was a tour de force of “expert witnessing”. Might amuse Pyrojames.
By my figures...That's the index figure for all exports out of Shanghai. Asia-USWC has flatlined since China got antsy about rates a few months ago. They're high, but we're talking about $4k to send a 40ft box across the Pacific.
That adds about $0.03 to the average pair of trainers, for example.
By my figures...
Average Nike shoe-box apparently 35x25x12 = 10,500cu cm
40Ft Container internal volume 67cu m
=6380 shoeboxes
@ $4000 per container = ¢62 per pair - not three!
Or please set my maths right...
Asia-Europe rates hit highest level since early 90s as container line pay for the cost of their capital for the first time in a decade... Hardly inflationary pressures on shipped products.If they are shipped as “all left shoes in one container, all right shoes in another container”, perhaps they may not be in the boxes that they are sold in?
Anyway, see here for more container freight rate fun:
Asia-Europe rates climb to new highs - Splash247
At those sorts of numbers the container itself is paid for in one trip. With change.
The Loadstar despite the ghastly pun in the name is a very well thought of freight forwarders’ journal. I’ve found its reporting to be careful and accurate :
Container freight rates from Asia surge to new highs – 'it's gone mad' - The Loadstar