Sea/analytics – a year in review
2021 has been quite the year for Sea/analytics, not only is it the year we launched but it’s also been an extremely volatile year for freight. With striking news headlines and significant shifts in shipping activity including Covid-19, geopolitical tension, trade wars and environmental curbs, it has certainly kept us on our toes throughout. And whilst it has created challenges for us all, it has been great to look back and note the development of Sea/analytics and what we achieved with our clients input.
Suez Canal
Who can forget the Evergiven crisis in the Suez Canal? Our Sea/analytics team quickly delivered a dashboard that allowed you to filter by specific vessel sector(s) to understand the increased number of vessels in the area. In addition, you were able to view in real-time the expected congestion, route deviations and stationary vessels.
Congestion at Los Angeles and Long Beach
Supply chain bottle necks coupled with a consumption binge in the US led to increased congestion at the twin ports of Los Angeles and Long Beach that nearly accounts for 40% of the country’s imported goods.
High demand and port congestion
High demand for Coal, Iron Ore, Grains and Minor Bulks (as a result of the stimulus package in early 2021) combined with Covid-19 related quarantine and immigration restrictions increased port congestion and waiting times at Chinese ports this year.
CN6 volume changes
On 14th January 2021, a fire occurred at CN6 at the Southern Bridge of Pier IV. During the maintenance, the berth sustained its shipping activities using its second ship loader, CN7. Despite this the volumes exported out of this berth have been drastically lower this year compared to last.
Increase in Philippines port callings
Philippines is one of the biggest suppliers of manpower to the shipping industry. As vaccination rates led to lower infections and eased travel restrictions, we saw an increase in the number of ships calling to Filipino ports, especially after the temporary ban of crew changes earlier this year.
High backhaul demand
The handy-size segment benefited immensely from the spill over effect of the container market. Minor bulks and Steel product commodities, that are typically carried in container boxes, had to rely on Handysize vessels in 2021, leading to an increase in backhaul demand.
The Australian – China trade wars
In H2′ 2020, China turned its back on Australian coal. Their stance remained the same in 2021 without an obvious end in sight.
Bauxite sea-borne trade
Bauxite sea-borne trade grew at a steady rate in 2021. With healthy volumes from West Africa, the share of the Capesize segment increased as well.
Panamax rates hit new heights
Panamax rates hit new heights not seen in a while earlier this year as grain cargoes found their way from the United States and South America to China. Additionally, delays at Brazilian load ports reduced the amount of available tonnage in the spot market.
Increase in VLSFO fuel
As freight rates increased, vessel speeds followed suit. A combination of high crude oil prices and increased bunker fuel consumption led to an increase in the price of the VLSFO 0.5% fuel oil grade.
As you can tell, the Sea/analytics team have been very busy but we can’t be prouder of what they’ve achieved and we are already looking forward to another year of insights.
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