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MarketPulse

Market Pulse – 2022 Week42

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202242] The container market has continued to weaken with demand softening at a faster pace than carriers are able to adjust capacity to match. Port congestion is easing across all main regions, with the recent build up of ships at Chinese ports already starting to clear, partly from reduced congestion but also due to ships returning to service after anchoring temporarily for blanked sailings during the Golden Week holidays.

Services

Focus Container Line : New carrier joins China-ANZ trade

Focus Container Line, a new shipping company based in Brisbane, Australia, will launch a new service linking China to New Zealand and Australia from November 2022. The new service will kick off from Ningbo on 4 November 2022 with the 1,497 teu mpp ship BBC DENMARK and followed by the 1,756 teu SAN GIORGIO on 19 November 2022. The 2 ships will be deployed for 2 round trips connecting Ningbo, Auckland, Ningbo with intermediate calls at Brisbane, Sydney and Melbourne on some of the sailings. The

Services

Kalypso launches Cristoforo Colombo Line

Kalypso, part of the Italian Rif Line Group, will launch a new Cristoforo Colombo Line transatlantic service connecting Italy, Spain and US from November 2022. The new service will start from 8 Nov with the 3,091 teu HAMMONIA LIPSIA at Mersin, to be followed on 24 Nov by the 1,795 teu EMORA. The initial Mersin call will be dropped from December and the service will then call Salerno, La Spezia, Sagunto, New York, Salerno using the 2 ships running on a 26 day rotation with sailings every 13-14 d

Services

SITC/Jin Jiang revise VTX5/CTX2 service

SITC and Jin Jiang Shipping (JJS) have revised their jointly operated China-Thailand-Vietnam (VTX5/CTX2) service, with a completely revised rotation from October 2022. The service was launched on 1 June 2022 and had originally called at Shanghai, Nansha, Bangkok, Laem Chabang, Ho Chi Minh City, Shanghai. The last sailing on the previous rotation was made on 11 October 2022. The revised VTX5/CTX2 service will call at Lianyungang, Qingdao, Laem Chabang, Bangkok, Laem Chabang, Ho Chi Minh City,

Services

COSCO/OOCL add China New Zealand Express (CNX)

COSCO and OOCL will launch a newChina New Zealand Express (CNX) service calling at Shanghai, Shekou, Hong Kong, Auckland, Hong Kong, Shanghai, with an optional call at Napier planned. The first sailing will start on 10 November 2022 by the 2,174 teu ADVANCE with an adhoc Ningbo call on 17 November 2022. The CNX will complement the 2 carriers' current China New Zealand Service (CNS), North Asia Express (JKN) and New Zealand/South East Asia Express (NZS) services. Port of rotation of the new Chi

Services

Swire/UWL commits to run Vietnam-USWC service until 2024

Swire Shipping and UWL have committed to operate the Sun Chief Express service between Vietnam and Seattle until 2024. The Sun Chief Express was launched on 26 April 2022 by Swire and its exclusive NVOCC partner UWL to provide connections between Ho Chi Minh City, Haiphong, Seattle, Ho Chi Minh City using 3 Chittagongmax containerships of 2,381-2,750 teu on a fortnightly (14 days) frequency. The service offers the fastest transit times from Vietnam to the US West Coast of 19 days from Ho Chi

Evergreen

EMC: Lower Freight Rates Higher Bunker Price for 3Q

Evergreen Marine Corp (EMC), the listed subsidiary of Evergreen Group, provided an update presentation in Taiwan after market last Friday (14th Oct). The presentation materials provided additional color on the Evergreen's operation and relevant read through to the whole liner industry. First, decline in freight rates was the main reason for the 16% MoM drop in the Evergreen's revenue in September. During Sep, Evergreen's volume was down 5% MoM while the freight rates dropped 12% MoM. in the de

Companies

Allseas defaults on ship charters

3 ships of 1,700-1,800 teu currently chartered by Allseas that are operating on the China-UK route are currently stranded with Allseas confirming that it is in negotations with owners, while 2 more ships are already confirmed to be off-hired. An Allseas spokesperson said on 19 October 2022 that the company and its related parties have not filed for insolvency. Update : An admistrator for Allseas Global Project Logistics was appointed on 27 October 2022 in the UK courts. The affected ships are

Services

SeaLead/TS Lines turns to US East Coast as US West Coast services are suspended

SeaLead and TS Lines have revised their jointly operated Asia-US East Coast (AEC) service with a new rotation calling at Nansha, Ningbo, Shanghai, Qingdao, Busan, Manzanillo (Mexico), Jacksonville, Charleston, Norfolk, New York, Nansha. The service was first introduced in March 2022 and initially called at Nansha, Ningbo, Qingdao, Busan, Norfolk, Newark, Charleston, Jacksonville.  The revised rotation with the call at Jacksonville as the first US port was made on 22 September 2022 with the 5,4

Port Congestion

Port congestion remains on downward trajectory

Global port congestion increased marginally to 2.79m teu at the end of last week compared to 2.70m teu a week ago, but the overall trend remains on a downward trajectory as congestion is starting to ease across the main hotspots in the US and Europe. There was a small increase in ships waiting at Chinese ports, especially around Qingdao where strong winds shut down terminal operations last week while Ningbo depot operations in the Beilun area were affected by COVID lockdown restrictions. There

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