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Companies

K&N 22H1 results in line

K&N reported CHF796mn net profit for 22Q2, up 78% YoY but down 4% QoQ, in line with the consensus estimates in the capital market. Seafreight segment contributed 55% of K&N's EBIT YTD, which was once the normal EBIT mix for K&N before 2015. K&N has more than doubled its dividend pay out during 22H1 to CHF1.2bn, comparing to 21H1's CHF0.5bn. Another CHF550mn were used in share buyback. Those distributions helped lower K&N's net cash position from CHF416mn at end of 2021 to CHF258mn at end of 22

Port Congestion

Oakland Congestion Up on Trucker Protests

Vessel congestion at the port of Oakland increased over the past week as trucker protests against California’s Assembly Bill 5 (AB5). If protests continue into this week, vessel queues will lengthen further as carriers will not be able to divert cargo already loaded for Oakland at short notice. However, as Oakland accounts for less than 8% of total container volumes in the US West Coast, the impact will not significantly affect overall North American congestion unless the protests spread to Los

MarketPulse

Market Pulse – 2022 Week 29

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202229] North American port congestion is rising again with pressure building up on all fronts as truck, rail and port workers are all pushing for their respective causes. This has not been enough to stop freight rates from weakening further as peak season volumes disappoint. August bookings from Asia remain soft to both the US and Europe, prompting carriers to cut rates further. Latin America remains the only bright spot wi

Services

Tailwind launch China-Rotterdam service

Tailwind Shipping, the shipping company established by German retailer Lidl, has launched a new China-North Europe container service to cater for its own cargo requirements. Tailwind has deployed the 4,957 teu WIKING that departed from Taicang on 17 July 2022 and will call at Ningbo and Dachan Bay en route to Rotterdam. The launch was delayed by some 2 months, as Tailwind had chartered out 3 more ships of 3,800-5,500 teu that were to be deployed on this service. This includes the 5,527 teu TALA

Services

Transcontainer introduce Russia-India and Russia-China services

Transcontainer has launched regular shipping services at both its Black Sea and Russia Far East hubs of Novorossiysk and Vostochny to provide multimodal container connections across its rail network in Russia. The latest service connects Novorossiysk, Haydarpasa, Istanbul, Mersin and Nhava Sheva with the 417 teu LDR SAKINE. The services was launched on 25 June 2022. Transcontainer had earlier launched a Taicang/Ningbo-Vostochny service on 4 April 2022 using the 1,113 teu OCEAN GRACE.

Companies

ONE FY22 earning guidance up

The three main Japanese shipping companies i.e. K-Line, MOL and NYK, parent companies of  Ocean Network Express ("ONE") revised up their FY2022 (Apr 2022-Mar 2023) earning guidance after market last Thursday (21 Jul), just 3 months after announcing such guidance in Apr 2022. The main change is to increase its FY2022 Ordinary Profit by JPY695bn or  38% comparing to its previous guidance. As a result, new profit guidance for FY2022 will be flat YoY. Previous guidance was 29% YoY lower.  However,

Services

Arctic Container Line launched

Arctic Container Line was established in March 2022 as a subsidiary of the Myklebusthaug Group of Norway to operate container feeder services between Europe and Scandinavia. It launched its first service on 13 June 2022 connecting Rotterdam with Tananger, Bergen, Alesund and Floro in Norway using the 657 teu RUMBA that is owned by Myklebusthaug. The Myklebusthaug Group currently owns 6 containerships of 657 teu to 868 teu. 5 of its other ships are currently chartered out to Unifeeder (1 ship),

Services

Allseas to add Scotland call on China Xpress service

Allseas Shipping Company will add a new call at Greenock in Scotland on its China Xpress service from 22 August 2022. The revised rotatin of the China Xpress will call at Ningbo, Dongguan, Chittagong, Liverpool, Greenock, Rotterdam. Certain sailings on this service will also call at Genoa on its westbound leg. The China/Bangladesh to Greenock link is offered through a partnership between DKT Allseas and KC Liner Agencies in Scotland and will be the first and only direct service from Asia to Sco

Ports

S.China Port Throughput Flat YoY in 2022H1

Total volumes in the 3 main ports in South China (Shenzhen, Guangzhou and Hong Kong) have largely held their ground during the 1st half of 2022, with aggregated volume growth rising marginally by 0.2% in the first 6 months of this year. Shenzhen was the best performer, registering 4.6% growth but the improvement was to a large part due to the sharp fall in May and June last year when Yantian port was closed due to Covid restrictions. Yantian registered a total growth of 6.7% in the first half w

Services

Feedertech launching new Red Sea-India-East Africa service

Feedertech is starting a new Red Sea-India-East Africa service calling at Jeddah, Mumdra, Mombasa, Jeddah. The service started with 1,301 teu ELREEDY STAR at Jeddah on 27 July 2022. The service currently runs on a triweekly frequency using a single ship on a 21-days round trip.

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