EBIT turned around in 1Q 2024 from 4Q 2023 losses on sequentially higher freight rates and lower unit costs. Management outlook statement: "Uncertainties in the macro-economic and geopolitical environment could continue to cause fluctuations in the transport and logistics market, and weigh on its fluidity and seasonality. In addition, the commissioning of newbuild deliveries are expected to continue in excess of forecast demand, ultimately affecting the supply-demand equilibrium and, by exte
Carriers earnings turned around from the losses in 4Q 2023 but EBIT earnings are still down YoY except for the carriers with higher spot and long-haul exposure. Aggregate average EBIT margin reached 8% with Asian carriers outperforming their European counterparts, apart from the Intra-Asia focused Wan Hai and contract heavy ONE which posted below-average results. Zim is the last carrier to publish its 1Q results which is due on 21 May 2024. Aggregated results for 9 carriers : CMA CGM, COSCO, E
Port congestion at the main Southeast Asia and Middle East Gulf hub ports have reached new record highs in May, surpassing the previous highs during the 2021-2022 COVID pandemic. The worsening congestion is driven by the sudden surge in cargo demand as well as continued disruptions caused by the diversion of ships from the Red Sea with Singapore and Jebel Ali the most badly hit. Berthing delays of up to 5-6 days have been recorded at the 2 key ports, resulting in disruptions to vessel schedules
The CoFIF container freight index futures traded at a new hight in volatile trading last week. Initial concern that CMA CGM’s resumption of Suez transits on one of its Asia-Med strings (see page 20 Weekly News Briefs) could trigger a response by its rivals proved to be unfounded, while the Shanghai Futures Exchange’s action to enforce the position restrictions to ring-fence speculative activities did little to dampen trading volumes as average daily turnover reached $3.5bn. Open interests are do
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202421] The caution that carriers have shown in their earnings forecasts for the 2024 financial year stands in sharp contrast to the surging spot freight rates with the SCFI hitting a fresh 2 year high. Bullish Chinese freight futures are predicting further rate gains in the coming 4 months, with a correction only expected in the 4th quarter of the year. The bullish sentiment has also pushed charter rates to fresh 2-year hi
MSC will launch a new North Peru Feeder connecting Balboa, Buenaventura, Paita, Salaverry, Balboa from 6 June 2024 with the 2,572 teu MSC MONTSERRAT III. The service will turn in 2 weeks, with a second ship to be introduced. MSC North Peru feeder service
Effective capacity to North Europe based on actual vessel departures from Asia has decreased by 5.1% compared to a year ago due to the longer route taken by the majority of vessels via the Cape of Good Hope despite the deployment of 17.8% more vessel capacity on the Asia-North Europe route. In contrast, effective capacity on the Asia-Med route is up 10.5% despite the Cape diversions as total capacity deployed on this route has jumped by 49.1% compared to a year ago. Contrary to Maersk’s claims
CMA CGM has resumed full Suez Canal transits on the Asia-Med Phoenician Express (BEX2) service from the end of April 2024, becoming the first mainstream Asia-Europe service to return to the Suez since the Red Sea crisis escalated in December 2023. The service is one of 4 OCEAN Alliance services on the Asia-Med route and is marketed as the PHOEX/BEX2 by CMA CGM, AEM6 by COSCO, AAS by OOCL and BEX2 by Evergreen. The service was previously operated with a mixed fleet of ships from the 3 OCEAN Alli
CMA CGM will launch a new MCX - West Coast Central America service connecting Buenaventura, Balboa, Puerto Caldera, Acajutla, Buenaventura from 12 June 2024. The MCX service will turn in 2 weeks using the 1,368 teu THEODOR and 1,341 teu ALGOL.
Mercosul Line, the Brazilian cabotage carrier of the CMA CGM group, will launch a new ATLAS service calling at Santos, Buenos Aires, Mar Del Plata, Imbituba, Santos. The fortnightly service will start from 5 June 2024 using the 1,713 teu CMA CGM PLATON on a 14 day rotation. Mercosul ATLAS service