Mediterranean Shipping Company (MSC) is set to recommence its North Asia-ANZ Wallaby service, connecting key ports across Hong Kong, China, Australia, and New Zealand. This relaunch, effective 19 August, aims to bolster MSC's network amidst rising Far East-Australia rates. The service will feature a fleet of 10 vessels, ranging from 2,700 to 5,000 TEUs, completing the circuit in ten weeks. The inaugural voyage will be undertaken by the 2,732 TEU MSC Tania from Hong Kong.
Despite a general correction in long-haul rates, Far East-Australia shipping costs have surged, with current figures around US$1,800 per TEU, a notable increase from US$1,400 per TEU in July. This rate escalation is attributed to capacity rationalisation along Australia routes, maintaining a tight space situation, as per Linerlytica's analysis.
Concurrently, MSC announced the cessation of its Capricorn and Kiwi services, effective 20 August, post the final sailings of the MSC Manu and AS California, respectively. These adjustments come as MSC seeks to streamline its operations, shifting Southeast Asia-Australia and New Zealand connections to transhipment via Singapore. Additionally, the Noumea Express service will undergo modifications to enhance New Zealand connectivity, incorporating stops at Tauranga and Nelson.
Source: container-news.com