All News

Services

MSC launches Mersin Shuttle service

MSC has introduced a new Mersin Shuttle service that connects Beirut, Mersin, Beirut with the 1,704 teu MSC SILVER II starting from 16 July 2023.

Services

Heung-A/Sinokor adds Vietnam-Russia connection on HPS1

Heung-A/Sinokor have extended its Haiphong-Busan Service 1 (HPS 1) to the Russia Far East since June 2023 with the revised rotation calling at Busan, Ulsan, Kwangyang, Hong Kong, Haiphong, Hong Kong, Shekou, Xiamen, Kwangyang, Busan, Vladivostok, Busan. The service will call at 2 terminals in Vlaidvostok - Vladivostok Fishery Port and Vladivostok Container Terminal (VCT). The HPS1 3 ships of 1,003 on a 3 week rotation - the HEUNG-A HAIPHONG, HEUNG-A XIAMEN, HEUNG-A AKITA.

Charter

Charters Rates for Smaller Feeders Under Pressure as Demand Wanes and Tonnage Builds Up in Asia

Charters rates for smaller feeders below 3,000 teu continues to be under the most pressure with rates noticeably declining over the last 2 weeks as ready tonnage continues to build up in Asia. There has been several reports of deals failing on subjects across all sizes, with demand waning as freight markets continued to weaken. MSC has taken over its 349th resale unit since 2020 with the 1,740 teu X-PRESS COTOPAXI (renamed MSC PAXI II) joining the fleet. Chinese and Russian buyers remain activ

Ports

Shanghai Port Recorded a 2023 High in June

Shanghai port recorded a 2023 high in June, with container throughput reaching 4.15m teu with volumes following a more normal seasonal pattern after the turbulence in the last 2 years.

Congestion

Congestion Escalates at Canadian West Coast Ports as ILWU Impasse Continues

There has been a gradual build up of ships waiting at the Canadian west coast ports of Vancouver and Prince Rupert as the ILWU Canada impasse stretches into a second week, with the total capacity of ships at the Puget Sound/British Colombia anchorages hitting 113,500 teu as at 9 July - the highest level since October 2022 but still well below the peak of over 300,000 teu recorded in early 2022. The situation remains fluid with more vessel diversions to US ports planned over the coming week. The

Services

COSCO/OOCL & ONE to jointly launch ECSA-Europe (ESE2/EEX/LUX) service

COSCO/OOCL and ONE will jointly launch a new East East South America-Europe service from 16 September 2023, branded respectively as the 'East Coast South America-Europe 2' (ESE2), 'Europe-East Coast South America Express' (EEX) and 'Latin-East-Coast Europe Express' (LUX). The ESE2/EEX/LUX service will call at Montevideo, Buenos Aires, Itapoa, Paranagua, Santos, Rio De Janeiro, Algeciras, Rotterdam, London Gateway, Hamburg, Antwerp, Lisbon, Algeciras, Santos, Paranagua, Montevideo using 9 ships

Services

Harbour Link adds Qinzhou link on Hong Kong Malaysia Express (HMX)

Malaysian carrier Harbour Link has added a new link connecting Qinzhou in Guangxi to its Hong Kong Malaysia Express (HMX) service from 11 July 2023. The Qingzhou call will initially be made monthly on the HMX that deploys the 735 teu HARBOUR STAR and HARBOUR HORIZON. The HMX service operates on a 14 day turnaround to call weekly at Hong Kong, Nansha, Kota Kinabalu, Muara, Bintulu, Qinzhou (monthly call), Hong Kong

Companies

Taiwanese Liner’s Revenue Stayed Flat MoM in June

EMC, the listed shipping arm of the Evergreen Group, reported June revenue on 7 July where its revenue (in USD) dropped 4% MoM. In contrast, Yang Ming’s June revenue rebounded from its May low while Wan Hai’s June revenue was flat MoM. Overall, the 3 main Taiwanese carriers’ 2Q revenue fell 3% QoQ and 66% YoY. EMC was only able to avoid a decline in revenue due to the consolidation of the Evergreen Group’s non listed entities held outside of EMC (see Week 26 Market Pulse).

MarketPulse

Market Pulse – 2023 Week 28

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202328] Carriers’ bid to raise Transpacific rates mid-July has gained traction, supported by improved capacity utilisation levels and a 14% month on month reduction in capacity that has been bolstered by Zim’s withdrawal of the ZNP service and THE Alliance’s planned removal of one FE-USWC string from August. Despite the improved transpacific market sentiment, the SCFI slipped by 2.3% at the end of last week, dragged down by

Services

Zim withdraws ZNP service and slots on MSC's Chinook

Zim has withdrawn the Zim North Pacific (ZNP) service with the last sailing from Busan on 12 July 2023. The ZNP deployed up to 7-9 ships of 2,700-4,300 teu and called at Kaohsiung, Yantian, Ningbo, Shanghai, Busan, Vancouver (BC), Busan, Kaohsiung. The removal of the ZNP will remove 1% from the FE-USWC capacity. Zim will replace the ZNP with slots on MSC’s Chinook service with the first Zim sailing on the 6,400 teu MSC DAMLA at Yantian from 15 July. The full Chinook rotation will be Yantian,

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