11 June 2024 (Lloyd's List) - FRENCH line CMA CGM  will launch a new peak service from China to destinations in Europe to deal with exceptionally high demand.

Seven additional vessels with a capacity of 7,000 teu will operate the French Peak Service from June 30 to early September.

The service will consist of bi-weekly departures from China to destinations in Northern Europe and the Mediterranean.

It will rotate every 15 days between Yantian –— Vung Tau — Singapore — Le Havre – Antwerp — back to China and Shekou — Vung Tau — Singapore — Fos-sur-Mer — Malta — back to China.

CMA CGM said the service will increase capacity by 25% on a “highly demanded” route at the start of peak season, with a particular focus on servicing French importers and exporters with calls to Le Havre and Fos-sur-Mer.

June to September has historically been the peak season for container volumes on the trunk trades, with August usually the busiest month.

Yet Linerlytica analysts said this year’s volumes have caught the market by surprise, and peak season will only bring more pressure for lines and more pain for shippers, with vessels and box equipment in short supply.

Just 101,144 teu, or 0.3% of the world’s fleet, is idle at present. This is represented in soaring freight rates, with the Shanghai Containerised Freight Index up 225% year on year.

With rates climbing close to the highs of January 2022, when it was COVID-19 rather than Red Sea risk to blame, Alphaliner said it expected “rates to remain firm until the end of the [summer] peak season”.