All News

Services

Samskip add Gothenburg-Iceland link

Samskips has added a weekly Gothenburg-Iceland connection with the addition of the Swedish port on its existing Iceland-Faeroe-Europe service starting from 6 April 2023. The service will call at Rotterdam, Cuxhaven, Gothenburg, Aarhus, Runavik, Reykjavik, Grundartangi, Vestmannaeyjar, Runavik, Rotterdam using the 908 teu HELGAFELL and ARNARFELL that will turn on a 14 day rotation.

Services

Hornafric Sea Shipping launch Somalia service

Hornafric Sea Shipping, a freight and logistics brokerage based in Dubai has launched a new service between the Middle East and Somalia. The service will connect Salalah and Bosaso in Somalia using the 665 teu geared mpp vessel CELESTIA that has been chartered for 6 months for $12,300 per day.

Services

Hapag-Lloyd to launch WCSA Feeder 4

Hapag-Lloyd will launch a new West Coast South America Feeder 4/WCSA Feeder 4 (WS4) service that connects Peru and Chile. The WS4 service will start from 5 June 2023 and call at Callao, Iquique, Puerto Angamos, Arica, Callao with the 1,930 teu newbuilding CAPE BRUNO. The service will turn in 2 weeks, with a second ship to join the service later in June.

Companies

OOCL 1Q top line dropped 31% QoQ

OOIL's 1Q 2023 shipping top line and breakdowns came out after Asian market on Thursday (6 Apr), being the first container liner to provide 1Q 2023 top line report. Revenue dropped 31% QoQ on average freight rate fall, which is in line with CCFI's 33% fall during the same period. Overall 1Q 2023 volume was flat QoQ.  Transpacific volume being up 11% QoQ suggested OOCL, the shipping liner of OOIL, may have gained market share during past quarter as the US import from Asia was down during 1Q 202

Services

Modul introduces St Petersburg-Latin America connection

Russian carrier Modul has launched a new Modul America Russia Express (MAREX) service that connects St Petersburg with Paranagua and Santos. The service started on 16 February 2023 with the 1,735 teu mpp vessel HUANGHAI STRUGGLER from St Petersburg and arrived at Paranagua on 19 March and Santos on 25 March. Modul also operates the Modul India Russia Express (MIREX) service that was launched in September 2022 connecting St Petersburg with Mundra, Nhava Sheva and Jebel Ali using 2 ships - the 1

Services

X-Press Feeders update Ireland coverage

X-Press Feeders will add a new call at Cork on its Bilbao Gijon X-Press (BGX) replacing the current call at Vigo and switch the Cork call to after Southampton ahead of Dublin and Belfast on its Irish Sea X-Press 3 (ISX3) service. Both of these changes will be effective from 18 April 2023. The revised BGX rotation will be Rotterdam, Dunkirk, Gijon, Bilbao, Cork, Rotterdam starting with the 1,036 teu X-PRESS ELBE at Cork on 21 April. Bilbao Gijon X-Press (BGX) rotationThe revised ISX3 rotation

Services

X-Press Feeders add Poland calls on Intra Baltic X-Press (IBX)

X-Press Feeders will add new calls at Gdansk and Gdynia on its Intra Baltic X-Press (IBX) service from April 2023. The revised rotation will turn in 2 weeks and call Rotterdam, Gdansk, Gdynia, Klaipeda, Riga, Rotterdam starting with the 917 teu X-PRESS GODAVARI at Gdansk on 6 April and the 809 teu X-PRESS MULHACEN at Gdansk on 13 April.

MarketPulse

Market Pulse – 2023 Week14

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202314] Market sentiment turned positive for the first time since September 2022, with rising conviction around a mid-April rate increase on some key routes. Carriers are making a last-ditch effort to raise spot rates on the Transpacific ahead of the 1st May contract season with rates expected to rise by $500-600/feu. The SCFI rebounded marginally last week on improved rates in the Middle East and Latin America on the back

Companies

COSCO 4Q liner EBIT dropped 32% YoY and 45% QoQ

COSCO reported after Hong Kong market close last Thursday (30 Mar). COSCO’s liner EBIT dropped only 32% YoY, which is much better most of the liner peers except for Maersk and Hapag Lloyd which have more favorable mix e.g. 2022-2023 contracts and exposure to Trans-Atlantic trade.  Part of the reason that COSCO outperform probably was due to the large provision made during 4Q 2021, which raised COSCO’s non-cash slot costs and hence the payables as reflected in the work capital balance.

Markets

China PMI export order dropped to 50.4 in March

China's March PMI New Export Order came out as 50.4 in the morning session of 31 March, suggesting Chinese export order may have seen marginal sequential growth in March comparing to February. But March's 50.4 comparing to February's 52.4 means growth decelerated over the past month. Softness of exports from China could be a combination of the market share losses and overall soft demand in the western hemisphere. In terms of container shipment volume, China has been losing market share to the

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