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Companies

ONE FY22 earning guidance up

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,

Services

Arctic Container Line launched

Arctic Container Line was established in Feb 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), CM

Services

Allseas to add Scotland call on China Xpress service

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

Ports

S.China Port Throughput Flat YoY in 2022H1

Total volumes in the 3 main ports in South China (Shenzhen, Guangzhou and Hong Kong) have largely held their ground during the 1st half of 2022, with aggregated volume growth rising marginally by 0.2% in the first 6 months of this year. Shenzhen was the best performer, registering 4.6% growth but the improvement was to a large part due to the sharp fall in May and June last year when Yantian port was closed due to Covid restrictions. Yantian registered a total growth of 6.7% in the first half w

Services

Feedertech launching new Red Sea-India-East Africa service

Feedertech is starting a new Red Sea-India-East Africa service calling at Jeddah, Mumdra, Mombasa, Jeddah. The service started with 1,301 teu ELREEDY STAR at Jeddah on 27 July 2022. The service currently runs on a triweekly frequency using a single ship on a 21-days round trip.

Ports

Port Congestion Up in Europe

Congestion at European ports are also inching upwards, with rapidly deteriorating conditions in Northern Europe cancelling out the recent improvements at Med ports. The situation especially bad at German ports which have been hit by a 48 hour strike on 14-16 July. It follows a 24 hour walkout on 23 June and an one-shift warning strike on 9 June with dockworkers unable to reach an agreement on their demands for higher pay after 6 rounds on negotiations. Vessels queues are already very high espe

Markets

Global Port Volume Flat in 22H1

Projected throughput growth for Linerlytica’s global port sample that accounts for over 75% of global container handling volumes is expected to show a marginal increase of just 0.3% during the first half of 2022. Chinese ports remain largely resilient despite the COVID related lockdowns, with first half growth estimated at 2.4%. A more detailed analysis of the Chinese volumes will be added next week when  the final port numbers for June are confirmed. North American ports also performed strong

Markets

Spot rates at 12month low

Freight rates remain under pressure with the SCFI falling to a 12 month low. The Transpacific rates continue to soften with spot rates to the US West Coast expected to breach the $6,000/teu level within the next few weeks while rates from Asia to North Europe has dropped below the $9,000/feu level. Demand has failed to pick up with the summer peak season demand turning out to be much weaker than expected. Although port congestion is creeping up in Europe and North America, overall capacity dep

MarketPulse

Market Pulse – 2022 Week 28

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202228] Freight rates remain under pressure with the SCFI falling to a 12 month low. The Transpacific rates continue to soften with spot rates to the US West Coast expected to breach the $6,000/teu level within the next few weeks while rates from Asia to North Europe has dropped below the $9,000/feu level. Demand has failed to pick up with the summer peak season demand turning out to be much weaker than expected. Although po

Services

Kalypso launched East Med service

Kalypso Compagnia di Navigazione, the new shipping line of the Rif Line Group has launched the Butterfly service, a new East Mediterranean service calling at Salerno, La Spezia, Salerno, Misurata, Ambarli, Izmir, Mersin, Misurata, Salerno. The service has started with the 700 teu K-OCEAN that called at Salerno on 15 July 2022. The service turns in 0 to 24 days with a single ship currently deployed. The new intra-Med service is operated in partnership with Arcoship Lines and will complement Kaly

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