The 2M/SM Line strategic cooperation agreement on the Far East-West Coast North America route will be terminated on 8 May 2022, one year earlier than scheduled. The 2M/SM Line cooperation started in April 2020 after HMM ended the 2M cooperation to join THE Alliance. The agreement was expected to run until March 2023, but has been prematurely terminated by the three parties. It will affect the TP-8/Orient/PS1 service jointly operated by the 2M and SM Line, with 6 ships of 10,600 teu to 11,290
Asyad Line has announced the launch of a new service between Singapore and Port Klang with Oman. The service was first introduced on 17 December 2021, with the first sailing initiated by the 4,250 teu WADI BANI KHALID. A second ship, the 4,398 teu GULF BARAKAH was introduced on 30 December 2021. The new service calls at Singapore, Port Klang, Nhava Sheva, Mundra, Karachi, Sohar, Dammam, Jebel Ali, Mundra, Nhava Sheva, Singapore. 2 sailings will be offered each month using the two 4,250-4,398 te
HMM’s new Far East-India-Latin America Service (FIL) will skip the planned westbound Durban call and connect India directly with the East Coast of South America. The new service was launched on 7 December 2021 and was supposed to call at Busan, Shanghai, Ningbo, Shekou, Singapore, Kattupalli, Durban, Santos, Paranagua, Itapoa, Navegantes, Buenos Aires, Montevideo, Singapore, Hong Kong, and Busan. The service is supposed to turn in 12 weeks, but currently deploys only 6 ships of 4,700 teu to 6,8
CMA CGM and COSCO will revise its joint service on the trade between Brazil, the Caribbeans and the US Gulf Coast with the new Brazil Express (BZX) service that will deploy 9 ships of 3,000 teu to 3,600 teu on a 63 day round trip. CMA CGM will deploy 8 of the 9 ships in this new service that is scheduled to start from 22 February from Navegantes with the 3,091 teu CMA CGM PARANAGUA. The revised service will call at Navegantes, Paranagua, Santos, Rio de Janeiro/Salvador (alternative calls), Cart
Maersk will launch a new TP28 transpacific service connecting Cai Mep, Yantian, Ningbo, Shanghai, Houston, Norfolk, Cai Mep using 11 ships of 4,500 teu. The new service is scheduled to start on 23 March 2022 with the 4,530 teu MAERSK WALLIS. The service will take an eastbound round-the-world route, using the Panama Canal from Asia and returning via the Suez Canal. Maersk will also concurrently revise its current TP20 service with the Cai Mep call replaced by a new call at Jakarta, while the ves
OOIL is likely to report net profit over $5bn for 2H21 and $8.3bn for FY21, in our estimates, beating the average consensus estimates. OOIL reported $2.8bn as net profit for 1H21. In 2H21, revenue increased $2.7bn HoH, driven primarily by the increase in average freight rates...
China United Lines (CUL) have launched a bid for an initial public offering (IPO) on the Hong Kong stock exchange. It filed an initial application on 31 January 2022, with proceeds from the IPO to be used to fund new ships and further overseas expansion. CUL was established in 2005 and is currently based in Shanghai. The company is controlled by Raymond Chen Hong Hui (through interests held by his spouse) and is currently 80% owned by Chen and 20% by Guangzhou Port. It reported total revenues
ZIM will extend its new Zim Med ISC (ZMI) service to cover North Europe from March 2022. The serivce was first launched in December 2021 and calls at Mundra, Nhava Sheva, Colombo, Haifa, Mersin, Ambarli, Mundra using 4 panamax ships of 4,250-4,310 teu. The move follows the termination of ZIM's current cooperation with MSC on the North Europe-East Med trade in March 2022. The 2 carriers jointly operates the NE1/Israel Express service that calls at Felixstowe, Hamburg, Rotterdam, Antwerp, Le Havr
ZIM will relaunch its standalone ZIM Med Pacific (ZMP) service in April 2022 after a 3 year absence as the ZIM/2M partnership arrangement on the Asia-East Med and Asia-PNW will be terminated. ZIM will revive ZMP that was first launched in April 2017 as part of ZIM's network revamp at that time, deploying 15 ships of 4,200 teu to 5,900 teu to cover the Med-Asia-US Pacific Northwest route. The original ZMP was withdrawn in March 2019 after ZIM started its strategic cooperation with the 2M (Maer
The transpacific extra loader service operated by Pasha exclusively for US warehouse retailer Costco will be upgraded to a regular service later this year. The Pasha/Costco service was launched on 12 August 2021 with the 2,741 teu POSEN, followed by the 2,741 teu AS CARLOTTA on 1 September 2021 and 2,194 teu QUEEN ESTHER on 3 October 2021. The 3 ships were chartered by Pasha on initial periods of 12 months at between $70,ooo and $80,000 per day. The service currently runs on an irregular sche