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Services

Akkon launched TIC

Akkon has launched Turkey Italy Casablanca (TIC) Service recently that connects east and west Mediterranean. The service will call Germlik, Gebze, Ambarli, Izmir, Salerno, Genoa, Casablanca, Germlik with two ship, 712 teu RS Mistral, previously operated by CMA CGM and 658 teu Depe previoulsy operated by A2B. Depe has already phased in at Gemlik on 22 Auguest while RS Mistral has phased in at Evyap on  31 August. (source: Akkon)

Companies

CMACGM 22Q2 results in line with larger liners

CMA CGM 22Q2 results out after Friday close without much surprises. The reports from the other liners have pretty much painted the picture of the liner industry financial performance during 22Q2, e.g. larger liners reporting sequential earnings growth while smaller liners reporting sequential earnings drop probably a result of contract mix. CMA CGM reported sequential growth in revenue yield (revenue generate by each capacity slot in a quarter), similar to that of Maersk and Hapag Lloyd. Hence

Companies

Ranking Liners By Dividend: Yang Ming and OOIL top

The best yard stick, in our view, measuring management performance is the financial return generate over time. And the most direct financial return for shareholders is the dividend pay-out relative to a company's market value. Liners have been swimming in cash on extraordinary earnings since 2021. Reasonably, they also distributed dividend generously. Between 2021 and July 2022 end, a total of $38bn* of dividend paid while another $14bn have been committed to be paid in 2022 by the 16 shipping

Markets

Freight Rates Watch: 2022 still better than 2021?

Decline in spot freight rates continue to gather pace this week. SCFI overall index dropped 10% WoW to below 3000 mark, after having fallen 8% WoW the week before. Feedbacks from our channel check suggested the current spot rates available to the BCOs are way below what is being reported in SCFI. CCFI is already tracking below its level last year, meaning even including the YoY much higher contracted rates, the average freight rates including both spot and contract rates are lower YoY. Until

Companies

COSCO 22Q2 Results: Unwinding Provision Helped

COSCO 22Q2 results were out overnight. Earnings have already been given in the alert last month. So the new news is dividend,HK2 or 50% payout ratio, which is ahead of the analysts estimates. Yet the stock ended down in the Hong Kong trading session. The results are all good. Top line dropped just 4% QoQ as 2% higher volume mitigate some fall in freight rates while slot costs dropped by a whopping 23%. Slot costs are the OPEX incurred in a quarter divided by operating capacity, which help make

Ports

Vietnam leads ASEAN in container throughput

Vietnam has grown to become the largest container market in SE Asia (excluding transhipment volumes), having overtaken the Philippines in 2007, Malaysia in 2009, Thailand in 2011 and Indonesia in 2020. Vietnam container port volumes have recovered strongly from the nationwide lockdowns in the second half of 2021 but there are also early signs of softening volumes, with Ho Chi Minh City and Cai Mep volumes down 3.9% in Jan-Jul 2022 compared to the same period last year. Northern Vietnam volumes

MarketPulse

Market Pulse – 2022 Week 34

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202234] SCFI spot freight rates suffered their largest single week drop last week as carriers capitulated under rising market pressure to cut rates in order to protect their market share. Supply chain bottlenecks are no long providing price support as demand is clearly easing well ahead of the traditional start of the slack season in October. Port congestion eased at the end of last week, after rising to new highs in the US

Services

Diamond Line Split TBX into TBX1 and LGX1

Diamond Line, a subsidiary of COSCO is splitting  Piraeus-Black Sea-Near East service (TBX) into Turkey Blan Sea Express (TBX1) and Limassol Greece Express (LGX1). TBX has been calling Piraeus, Ambarli, Poti, Constantza, Varna, Piraeus with 4 ships namely 1,432 teu CONTSHIP SEA, 1,432 teu CONTSHIP RUN, 1,267 teu CONTSHIP JET and 868 teu MOVEON. TBX will be suspended after MOVEON's call at Piraeus on 4 sep. MOVEON will be re-deployed to Diamond Line's Piraeus-Naples service (PNX). TBX1 will ca

Services

SeaLead tweaks Asia-US East Coast (AEC) service rotation

SeaLead has revised the port rotation for its Asia-US East Coast (AEC) service from September 2022 with the new rotation to call at Nansha, Ningbo, Qingdao, Busan, Manzanillo, Jacksonville, Charleston, Norfolk, New York, Nansha. The AEC was launched on 7 March 2022 using 3 to 4 ships of 4,872 teu to 6,882 teu on an irregular frequency that initially called at Nansha, Ningbo, Qingdao, Busan, Norfolk, New York, Charleston, Jacksonville, Nansha. The revised rotation will allow for transhipment op

Companies

Hartnoll family interests reveal investments in BTL and CFS

HICO Investment Group, a privately owned trust fund owned by the Hartnoll family, revealed on 25 August 2022 that it has acquired the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners. At the same time, HICO also revealed that it has acquired a controlling stake in Caribbean Feeder Services (CFS) from Pérez y Cía who remains a minority shareholder and partner in the CFS business. The Hartnoll family also owns X-Press Feeders (Sea Consortium), as well as various shipowning entities t

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