MSC restarts Far East-Australasia service as rates head north

As Far East-Australia rates have been going up, Mediterranean Shipping Company will relaunch the North Asia-ANZ Wallaby service today (19 August). The service connects Hong Kong, Yantian, Xiamen, Shanghai, Ningbo, Sydney, Melbourne, Auckland, Bluff, Lyttelton, Wellington, Napier, Tauranga, Melbourne, Brisbane, and Hong Kong. The first sailing will see the 2,732 TEU MSC Tania depart Hong Kong. The service is expected to turn in 10 weeks and will deploy 10 ships of 2,700 to 5,000 TEUs. So far, Far East-Australia rates have bucked the trend of a correction in long-haul rates. Rates now hover around US$1,800 per TEU up from US$1,400 per TEU in July. Linerlytica stated that Far East-Australia rates are enjoying a mini rally as capacity rationalisation on the Australia routes has kept space tight. With the reintroduction of the North Asia-ANZ Wallaby service, MSC will withdraw the Capricorn and Kiwi services from 20 August, with the last Capricorn sailing by the 4,253 TEU MSC Manu at Singapore and the last Kiwi sailing by the 2,824 TEU AS California at Laem Chabang.