COSCO will join CMA CGM on the MedGulf Service that calls at Genoa, Valencia, Miami, Veracruz, Altamira, Houston, Tanger Med, Genoa. COSCO will add one of the six ships of 2,000-3,000 teu on this new service that is hitherto operated independently by CMA CGM. The service was first launched on 3 October 2022 from Genoa with the 2,826 teu CMA CGM NAVEGANTES. The current service is affected by severe congestion in Houston, with 2 blanked sailings in each cycle. The new cooperation with COSCO is ex
CMA CGM will become a new partner of COSCO, OOCL and ONE on the East Med-America (EMA) service, contributing one of the six ships to be used on this service from the end of November 2022. The EMA service calls at Iskenderun, Aliaga, Ambarli, Vado Ligure, La Spezia, Algeciras, New York, Norfolk, Charleston, Algeciras, Iskenderun and is currently running on an irregular sailing frequency every 14 to 21 days with just 2 ships from COSCO and 1 ship from ONE. The service is expected to return to a r
Van Son Shipping has reactivated the 1,730 teu VINASHIN EXPRESS 01 on 9 October 2022 and placed the ship on its Haiphong-Cai Mep domestic service. The ship has been laid up since it was delivered June 2013 by the Bach Dang Shipyard in Haiphong. It is a sistership of the NEW VISION [/cms/ghost/#/editor/post/62f36094043625083a08cc6c] that had been re-activated at the end of July 2022 after a 10 year lay up. The VINASHIN EXPRESS 01 was launched in November 2008 but her delivery was delayed by ove
The easing port congestion and a pick up in the number of new ships being delivered has brough the active fleet back above 17m teu for the first time in 12 months. More ships have also entered drydock including ships undergoing scrubber retrofits. Further increases are forthcoming, with new deliveries picking up pace while port congestion continues to ease over the coming 3 months. The number of idle ships has increased to 42 ships for 121,031 teu without employment as at 9 September 2022. 2
Container volumes handled at Nhava Sheva dropped in September compared to the previous 7 months, as the elevated demand over the past year is starting to ease. Growth at neighbouring Mundra is also showing signs of easing, despite the increase in overall capacity to the Indian subcontinent. Based on Linerlytica’s capacity survey, the overall capacity on South Asia and Middle East routes has grown by 6% in October compared to the same period last year. The utilization since week 39 dropped to 93
Global port congestion eased to a 10 month low, with both the US and China ports recording lower congestion levels. In the US West Coast, the congestion at Los Angeles and Long Beacj have been almost fully cleared, with only 2 out of the 13 LA/LB terminals still facing any material congestion. Vessels calling at MOL’s Trapac and NYK’s YTI are still facing extended delays but the queues at other terminals have all fully cleared, with the average berthing delays not less than 2 days. Congestion
The Golden Week holidays in China provided little respite for the sliding freight and charter rates. There was no SCFI publication last week due to the Chinese holidays but SCFIS (SCFI on Settled Rates), another index also from Shanghai Shipping Exchange, was published yesterday (10 Oct) where the SCFIS for Shanghai-USWC has fallen to level last seen in May 2020: 1,384, down 11% from the last print on 26 Sep. The SCFIS for Shanghai-Northern Europe was 3,434, fell 13% since 26 Sep but still a mul
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202240] The Golden Week holidays in China provided little respite for the sliding freight and charter rates, with the SCFI and CCFI will resume their weekly declines when publication resumes this week. Carriers are still unwilling to take out capacity in any serious way, while the easing port congestion has negated much of the initial capacity reductions. Global port congestion has dropped to 10.5% to reach the lowest level
COSCO provided a profit alert after market close today(10 Oct). The alert gave 9-month figures in RMB. For 3Q 2022 in USD, profit attributable to the shareholders were down 16% QoQ and flat YoY while EBIT was down 17% QoQ and down 1% YoY.
Wan Hai will withdraw 2 of its Far East-US West Coast services calling at Oakland and Seattle, but will retain its remaining 4 transpacific services that serves the US West Coast (2 services) and the US East Coast (2 services) with an increase in overall capacity as its first 13,200 teu ships are introduced on the trade. The Asia America Service I (AA1) willl be withdrawn with the last sailing scheduled to depart from Shekou on 16 October 2022 with the 1,708 teu TOKYO TOWER. The service calls a