All News


Medkon starting BRO service

Medkon is starting a new service, Bulgaria-Romania Shuttle Service (BRO), that connects Ambarli, Gebze, Varna, Constantza, Ambarli on 7-day round trip with 353 teu MEDKON KRM. The service will start on 23 May at Ambarli.


Maersk revises Philippines service coverage with new PH1

Maersk is launching a new PH1  service on 24 May 2023 calling at Busan, Shanghai, Ningbo, Kaohsiung, Hong Kong, Haiphong, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, Hakata, Moji, Hibiki, Busan. It replaces the current HP3 service that calls at Busan, Kaohsiung, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, with the additional coverage to Vietnam and an extension of the service to Japan. The new PH1 will turn in 35 days using


Maersk launches new S. China-Siam Bay-Taiwan-Philippines IA-10 service

Maersk is replacing the IA-80 service with a new IA-10 S. China-Siam Bay-Taiwan-Philippines service calling at Taichung, Xiamen, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila North, Taichung from 16 July 2023, starting with the 1,118 teu MCC ANDALAS at Taichung. Calls at Japan and Korea ports will be taken out in the new port rotation although the calls at the Korean and Japanese ports have been omitted since March 2023. The 3 ships previously depl


MSC revamps 10 Intra-Asia services

MSC has changed the port coverage of 10 of its intra-Asia services in May and June 2023, with details as follows: Bengal - new rotation Belawan, Tanjung Pelepas, Singapore, Chittagong, Tanjung Pelepas, Singapore, Belawan using 3 ships of 1,700 teu from 3 June 2023. It replaces the old Bengal service calling at Qingdao, Busan, Shanghai, Ningbo, Shekou, Singapore, Tanjung Pelepas, Chittagong, Singapore, Tanjung Pelepas, Hong Kong, Qingdao. MSC Bengal ServiceBurma - new rotation Belawan, Singapor


HMM 1Q results broadly in line with peers

Results out after market on 15 May. The fall in aernings and the mid-teen EBIT margin are broadly in line with Asian liner peers already reported. But what may have gone unnoticed in the market is that HMM has quietly took the lead in having the lowest slot costs. HMM has been operating a fleet of larger average vessel size since 2016. The dramatic development between 2018 and 2020 for HMM was due to its improvement in fuel efficiency (e.g. scrubber retrofit) and reduction in dependence on cha


Wan Hai in the red in 1Q 2023

Wan Hai reported its largest quarterly net loss at $70m in the first quarter of 2023, with losses at the gross profit level and operating cashflow level. Wan Hai has reduced its capacity exposure to Transpacific trade from 35% to 25% of its total capacity operated in the first quarter, with most of the reductions in the FE-WCNA route where capacity utilization has declined. Wan Hai's revenue dropped 71% YoY, the deepest YoY drop among the liners that have reported their first quarter perform


Capacity Deployed Up Even in TP

Transpacific vessel capacity is rising again after continuously dropping for the last 12 months, but remains 16.7% lower compared to the peak in April 2022. The recent increase was due to the injection of neo-panamax newbuildings of 13,000 to 15,000 teu into the transpacific trade. Meanwhile, Asia-Europe capacity has continued to increase due to the injection of new ships on the route, with the 2M announcing the addition of 9 more ships on their Asia-Europe services from June. Despite the reduc


Market Pulse – 2023 Week20

Carriers failed to push ahead with the mid-May GRI, with transpacific and Asia-Europe rates still slipping amidst an increase in vessel capacity on both tradelanes. Overcapacity continues to pose the biggest challenge to a freight rate recovery, but the weakening freight rates has not deterred carriers from adding more capacity. The charter market is rapidly running out of open tonnage and the idle fleet has dropped to just 1% of the total fleet for the first time since October 2022. The positi


YMM earnings down 95% YoY

YMM put out its preliminary financial data after market on 12 May and then gave the full quarterly disclosure on 15 May. Profit attributable to shareholder down 95% YoY to a level similar of those seen in the long trough cycle before 2020.


SITC revises CMI2 service

SITC has revised its China Malaysia Indonesia 2 (CMI2) service that was first launched in March 2021 with calls at Semarang and Surabaya to be removed from May 2023. The new CMI2 rotation will call at Nansha, Shekou, Haiphong, Qinzhou, Ho Chi Minh City, Jakarta, Laem Chabang, Ho Chi Minh City, Batangas, Manila(N), Nansha. The revised service will turn in 4 weeks using 4 ships of 1,000 teu to 1,300 teu - the ISEACO FORTUNE (1,367 teu), SITC QINZHOU (1,043 teu), TIGER BINTULU (1,384 teu) and TI

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