Global container handling volumes in June remain robust but there are some signs that volumes may have peaked for the year already. Weakening demand in the US and Europe is filtering into port volumes. North American ports slipped in June after hitting a record high in May with the trend expected to persist over the coming months. In Europe, Rotterdam posted a -6.9% drop in handling volumes in the second quarter after a -1.7% drop in the first quarter with volumes to Russia badly affected by s
Aggregate container volumes at North American ports remain elevated in June but have come off the peak recorded in May, sliding by an estimated 5.4% during the month. Total volume in June was 5.3m TEU, up 5% YoY because June 2021 volume was affected by congestion. Total volumes in the next few months are expected to continue this trend with renewed strength at East Coast ports, while West Coast volumes remain muted. Oakland volumes will be hit in July as gate operations are limited. Overall vo
K&N reported CHF796mn net profit for 22Q2, up 78% YoY but down 4% QoQ, in line with the consensus estimates in the capital market. Seafreight segment contributed 55% of K&N's EBIT YTD, which was once the normal EBIT mix for K&N before 2015. K&N has more than doubled its dividend pay out during 22H1 to CHF1.2bn, comparing to 21H1's CHF0.5bn. Another CHF550mn were used in share buyback. Those distributions helped lower K&N's net cash position from CHF416mn at end of 2021 to CHF258mn at end of 22
Vessel congestion at the port of Oakland increased over the past week as trucker protests against California’s Assembly Bill 5 (AB5). If protests continue into this week, vessel queues will lengthen further as carriers will not be able to divert cargo already loaded for Oakland at short notice. However, as Oakland accounts for less than 8% of total container volumes in the US West Coast, the impact will not significantly affect overall North American congestion unless the protests spread to Los
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202229] North American port congestion is rising again with pressure building up on all fronts as truck, rail and port workers are all pushing for their respective causes. This has not been enough to stop freight rates from weakening further as peak season volumes disappoint. August bookings from Asia remain soft to both the US and Europe, prompting carriers to cut rates further. Latin America remains the only bright spot wi
Tailwind Shipping, the shipping company established by German retailer Lidl, has launched a new China-North Europe container service to cater for its own cargo requirements. Tailwind has deployed the 4,957 teu WIKING that departed from Taicang on 17 July 2022 and will call at Ningbo and Dachan Bay en route to Rotterdam. The launch was delayed by some 2 months, as Tailwind had chartered out 3 more ships of 3,800-5,500 teu that were to be deployed on this service. This includes the 5,527 teu TALA
Transcontainer has launched regular shipping services at both its Black Sea and Russia Far East hubs of Novorossiysk and Vostochny to provide multimodal container connections across its rail network in Russia. The latest service connects Novorossiysk, Haydarpasa, Istanbul, Mersin and Nhava Sheva with the 417 teu LDR SAKINE. The services was launched on 25 June 2022. Transcontainer had earlier launched a Taicang/Ningbo-Vostochny service on 4 April 2022 using the 1,113 teu OCEAN GRACE.
The three main Japanese shipping companies i.e. K-Line, MOL and NYK, parent companies of Ocean Network Express ("ONE") revised up their FY2022 (Apr 2022-Mar 2023) earning guidance after market last Thursday (21 Jul), just 3 months after announcing such guidance in Apr 2022. The main change is to increase its FY2022 Ordinary Profit by JPY695bn or 38% comparing to its previous guidance. As a result, new profit guidance for FY2022 will be flat YoY. Previous guidance was 29% YoY lower. However,
Arctic Container Line was established in March 2022 as a subsidiary of the Myklebusthaug Group of Norway to operate container feeder services between Europe and Scandinavia. It launched its first service on 13 June 2022 connecting Rotterdam with Tananger, Bergen, Alesund and Floro in Norway using the 657 teu RUMBA that is owned by Myklebusthaug. The Myklebusthaug Group currently owns 6 containerships of 657 teu to 868 teu. 5 of its other ships are currently chartered out to Unifeeder (1 ship),
Allseas Shipping Company will add a new call at Greenock in Scotland on its China Xpress service from 22 August 2022. The revised rotatin of the China Xpress will call at Ningbo, Dongguan, Chittagong, Liverpool, Greenock, Rotterdam. Certain sailings on this service will also call at Genoa on its westbound leg. The China/Bangladesh to Greenock link is offered through a partnership between DKT Allseas and KC Liner Agencies in Scotland and will be the first and only direct service from Asia to Sco