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Services

Maersk and X-Press Feeders to launch new Safina/China-Jebel Ali Express (CJX) service

Maersk and X-Press Feeders will jointly launch a new Safina/China-Jebel Ali Express (CJX) service that connects Ningbo, Shanghai, Shekou, Tanjung Pelepas, Port Klang, Jebel Ali, Colombo, Singapore from 19 September 2023. The service will turn in 6 ships of 4,000-5,000 teu, with 4 ships from Maersk and 2 ships from X-Press Feeders. The service will replace the existing China Jebel Ali X-Press/Arabian Express (CJX/ABX) and Straits Middle East X-Press/Arabian Star (SMX/ABS) service that calls res

Services

MSC revises Sentosa service rotation for the 3rd time this year - merged with Shikra service

MSC will revise the Asia-US West Coast Sentosa service rotation for the 3rd time this year with calls at Port Klang, Singapore and Busan reinstated together with an extension of the service to India. The revised service is renamed as Sentosa Shikra as it incorporates the existing FE-India Shikra service. The Sentosa service was first launched in April 2021 and has gone through 6 major iterations: * April 2021 to September 2022 - originally focused on the Southeast Asia market calling at Si

Services

Swire revamps North Asia-Oceania NAT service

Swire Shipping will revamp its North Asia-Oceania Service (NAT) from October 2023 with he service frequency upgraded from 44 days to every 30 days. The revamped NAT will deploy 3 mpp ship of 2,118 teu (KIRIBATI CHIEF, NOUMEA CHIEF, SAMOA CHIEF) on a 90 day rotation that calls at 15 ports - Kaohsiung, Changshu, Yokohama, Osaka, Busan, Lae, Motukea, Noumea, Auckland, Timaru, Tauranga, Marsden Point, Noumea, Vavouto, Subic Bay, Sri Racha, Kaohsiung. The container/breakbulk service will provide t

MarketPulse

Market Pulse – 2023 Week 34

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202334] Market sentiment has turned negative again, with carriers unable to retain the recent rate increases as the SCFI slipped by 1.2% last week. The setback will make it harder for carriers to push for the next round of rate hikes in September, with no signs of capacity management in place. The idle fleet remains low even as new ship deliveries continues apace. The mounting losses at Zim has forced it to rationalise capa

Services

Zim withdraws ships from Asia-Oceania trade

Zim will withdraw its ships from the Asia-Oceania trade and replace them with slots on MSC's enhanced Oceania services suite from October 2023. The move will affect 14 ships of 1,100 teu to 2,800 teu that Zim currently employs on 3 services on this route. Zim's existing China-Australia Express (CAX) service will be replaced by slots on MSC's Panda service that calls at Busan, Qingdao, Shanghai, Ningbo, Hong Kong, Yantian, Nansha, Brisbane, Melbourne, Sydney, Brisbane, Busan. Zim's current Thai

Services

Maersk retains Panama routing for Asia-US East Coast extra loader service

Maersk has added additional sailings between China/Korea and the US East Coast on its extra loader program for overflow cargo, retaining the routing via the Panama Canal despite ongoing draft restrictions and congestion. Maersk has deployed 8 extra sailings to the US East Coast since the beginning of July 2023 using ships of 3,000-7,000 teu, of which 6 sailings took the Panama route without encountering any significant delays, while 2 sailings were routed via the Suez Canal. * GSL ELEFTHERIA

Services

MSC revises Santana rotation

MSC will revise the rotation of the FE-USEC Santana service from 24 August 2023 to call at Laem Chabang, Cai Mep, Ningbo, Shanghai, Busan, Manzanillo, Cristobal, Caucedo, New York, Norfolk, Laem Chabang. The addition of new calls at Manzanillo and Cristobal allows MSC to offload cargo before the Panama Canal transit due to draft restrictions imposed by the ACP. The revision comes just 11 weeks after the Santana rotation was last changed on 8 June 2023 to call at Haiphong, Shanghai, Ningbo, Bus

Markets

New Container Freight Future Turnover Nearly $500mn in first 30 minutes of trading

After nearly 6 years of suspension, container freight futures are returning to the Shanghai market today. The turnover reached Rmb3.8bn ($500mn) in the first 30 minutes of trading, which is similar to the weekly freight revenue of the FE-NEUR route. source: BANDS FinancialThe product is now called Containerized Freight Index Futures (CoFIF). This product is being traded at INE (Shanghai International Energy Exchange), a subsidiary of Shanghai Future Exchange and is regulated by CSRC (China Sec

Companies

HMM earnings fall broadly in line with sector average

HMM’s liner EBIT fell 43%, which is broadly in line with the peers, as fall in freight rates off set increase in volume on the top line. HMM’s volume were up 12% QoQ, similar to CMA CGM and ONE, but is way ahead of Maersk and OOCL (+7% QoQ) and Hapag Lloyd (+4% QoQ).

Companies

YMM earning stabilized in 2Q

Yang Ming 2Q earnings avoid sequential fall at the EBIT level as sequential fall in revenue was offset by the reduction in operating expense, which is an outliner. Yang Ming led the container liner peers in 13% QoQ reduction in OPEX excluding bunker, depreciation and SG&A,  which consists of mainly port handlings and equity repositioning. Among the liners, e.g. Maersk and Hapag Lloyd,  that have disclosed port handling expenses, unit costs for this item were down QoQ but the drop is mostly off

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