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SeaLead extends India-Red Sea WARM service to Turkey

SeaLead has extended the West Asia-Red Sea WARM service to Turkey starting from 21 July 2023. The revised WARM service will call at Nhava Sheva, Mundra, Kandla, Damietta, Ambarli, Damietta, Jeddah, Nhava Sheva. The service will turn in 35 days using up to 5 ships of 1,400-2,o00 teu. The service was first introduced in March 2023 and called irregularly at Nhava Sheva, Mundra, Jebel Ali, Jeddah, Nhava Sheva. The extension of the service to Turkey will provide transhipment options for further o


Matson 2Q Earnings Nearly Tripled QoQ

Matson provided preliminary 23Q2 results after Thursday close. Matson's ocean transportation activities will be between $78-83mn, which is nearly 3 times of the 23Q1 results but still down 80% YoY. The YoY drop is expected by the market but the sequential rebound in earnings may have come as a positive surprise to the analysts in the capital market. Matson 's operation is highly concentrated on US domestic routes in the Pacific Ocean and FE-WCNA while CCFI suggested China-WCNA freight rates ha


Samsung H.I. snags largest single containership order worth

Evergreen's order for 16 new methanol powered containerships of 16,000 teu at Samsung H.I. marks the single largest containership order contract ever made. The order was finalised on 14 July 2023 and is worth $3.1 Bn (KRW 3.96 Tn) in total, with each unit priced at $193.9m. The ships are scheduled for delivery in 2026 and 2027. A separate order for 8 similar units has been placed at Nihon Shipyard according to Evergreen's announcement made on 11 July 2023.


RCL/CUL adds Sihanoukville call on revised RBC1 service

RCL and CUL have added a new call at Sihanoukville on their jointly operated RBC1/BC1  (RCL Bangkok China 1/China-Thailand Service 1) service. The revised rotation of the RBC1/BC1 will be Ningbo, Shanghai, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Ningbo starting from 10 August 2023. The service turns in 3 weeks, and currently deploys 2 ships of 1,200-1,500 from RCL and one 1,930 teu ship from CUL.


New New Shipping launch pioneer Northern Sea Route service between Russia and China

Hainan Yangpu New New Shipping has launched the first of several planned voyages through the Northern Sea Route (NSR) with the departure of the 1,638 teu NEWNEW POLAR BEAR from St Petersburg on 7 July 2023. The 1AS ice-classed ship was acquired by New New Shipping in June this year and will make a 28 day transit to Qingdao and Xingang before reaching Shanghai in August. The overall transit time will depend on ice conditions enroute, with New New Shipping expected to mount 3 more sailings on thi


USWC regaining lead vs USEC

US West Coast ports are set to gradually recover part of the share that they have lost to their East Coast counterparts, with the latest data for May showing their strongest performance since 2021. The West Coast share rose to 54% after dropping to 47% last year, and the resolution off the ILWU contracts in both the US and Canada will pave the way for further normalization.


MSC adds Florida Feeder

MSC has launched a new Florida Feeder service that will call Port Everglades, Caucedo, Rio Haina, Jacksonville, Freeport (Bah), Jacksonville, Port Everglades with two 2,000-2,800 teu ship. The service has started with the 2,824 teu AS CAMELLIA at Rio Haina on 7 July.


Maersk breaking up AC2 and AC3

Maersk is breaking up the FE-LTAM butterfly service AC2/AC3 into two separate service AC2 and AC3. AC2 will call Shanghai, Qingdao, Busan, Yokohama, Manzanillo (Mexico), Lazaro Cardenas, Guayaquil, Balboa, Lazaro Cardenas, Shanghai on 70-days round trip with ten 13,568 teu ships. AC2 will start with 13,568 teu MAERSK ELBA at Qingdao on 16 Sep. AC3 will call Hong Kong, Shanghai, Ningbo, Gwangyang, Busan, Balboa, Buenaventura, Callao, Puerto Angamos, San Antonio, Tauranga, Hong Kong on 77-days r


Divergent TP and AE freight rates

Transpacific carriers successfully pushed ahead with the 15 July rate increase, with rates soaring to a 9 month high of $1,771/feu to the West Coast, based on the latest SCFI assessment. The removal of Zim’s ZNP this week will be followed by THE Alliance’s suspension of the PS5 from August, along with the disruptions from the Canadian port strike have provided positive catalysts for the rate hike planned on 1 August. Carriers are capitalizing on the tighter space situation from the rise in bla


Market Pulse – 2023 Week 29

Register Free Trial [] The resolution of the ILWU US and ILWU Canada port labour contract negotiations have removed the last hurdle to market normalisation, with port congestion set to ease further from its current level affecting 5.7% of the global fleet. This does not bode well for the container market that is increasingly struggling with surplus capacity. Zim downgraded its EBIT forecast last week to a full year loss of up to $500m fro

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