Esgian Shipping RoRo and MPP Market Reports for September 2024

We are pleased to share the key highlights from the executive summary of the RoRo and MPP reports for September 2024.

(RoRo)

Japanese giants dominate between FE to SEA

• Seven operators control 95% of sailings, with NYK, MOL, and K-Line holding 75%. NYK leads, K-Line is steady, and MOL rebounds in early 2024.
• Glovis shows wild swings, peaking in June, while Wallenius Wilhelmsen faces a troubling decline, missing key months in 2024.

 

Route strategies on FE-EU: different approaches to global shipping paths

• Wallenius Wilhelmsen diverts 35% via the USEC, while MOL chooses the Cape of Good Hope, highlighting differing priorities in route planning.

 

Growth prospects between Europe to East Africa

• Operators prioritize South and West Africa, with limited East African activity.
• Operators aim to reduce transit time and combine port calls, using South Africa for bunkering due to Cape routing.

 

Livorno speeds up, While Brunswick slows down

• Livorno reduced its port waiting time from 59.5 to 4.6 hours and decreased total port time to 33.1 hours.
• Brunswick’s average port waiting time rose from 5.1 to 8.2 days, with a slight increase in port calls from 46 to 48.
  

 

Our new feature – Canals activity overview in 2024

• Grimaldi and others remain active, but WalWil, Glovis, and MOL dropped from 100+ transits in 2023 to 8 or fewer in 2024 at the Suez.
• WalWil led with 212, up 7.6%, while NYK, MOL, Glovis, Höegh, and K-Line each had over 40 transits in 2024 at Panama.

 

(MPP)

Increased competition and heightened activity in the EU to US trade route (2023-2024) 

• BBC Chartering peaked in May 2023 and BigLift/Spliethoff in May 2024, both with 10 sailings.
• 2024 shows increased activity, especially for BigLift/Spliethoff, Wagenborg, and Onego.

 

Possible project-driven demand in the South East Asia to Far East trade route (2023-2024) 

• COSCO Heavy leads the Southeast Asia to Far East route in sailings but shows some volatility.
• NYK Bulk shows steady activity, while most leading operators are volatile, prioritizing flexibility to meet market demand.

 

Monthly Kiel Canal transits from Jan to September 2024

• Baltic Shipping shows steady activity, peaking in April (107) and August (105).
• Declining trend in the number of transits from May onwards, with most operators experiencing lower volumes in late summer and early fall.

 

Port waiting time increased in Mumbai and Abidjan among others

• Mumbai: The port waiting time increased significantly by 8.6 times in September 2024, reaching 33.8 days.
• Abidjan: The port waiting time rose to 42.2 days in September 2024, up from 10.1 days in 2023.

 

Our new feature – Canals activity overview in 2024

• In Kiel, canal transits YTD 2024 totaled 5,114, down 6.8% from 2023, with September marking a peak waiting time of 19.2 days.
• In Suez, Elkenz increased its transits from 9 in 2023 to 25 by September 2024.

 

The full report is available exclusively to our clients. If you’d like more information, feel free to reach out at shipping@esgian.com

Image left: Market Report for RoRo (September), Right: Market Report for MPP (September)