The three Taiwanese liners' revenue (in USD) in May rose 2% MoM but fell 65% to $1,388mn in aggregate, which is comparable to the levels in August and September in 2020. The three Taiwanese liners in aggregate delivered $581mn operating profit in 3Q 2020 on $384mn fuel expenses and $321/ton average fuel price. The latest fuel expenses in 1Q 2023 was about $700mn on $631/ton average fuel price.
US west coast ports remain open despite the work actions taken by the ILWU last week, with the build up of vessels waiting at west coast anchorages largely under control. Although the Pacific Maritime Association (PMA) said that cargo operations at the port of Seattle were shut down on 9 and 10 June, this was disputed by the ILWU. Port productivity at Seattle and Tacoma have slowed with over the past week with port stays extended by several days and vessel berthing delays continuing although t
Customs of PRC reported foreign trade figures on 7 Jun, for which the market was negatively surprised by the 7.5% YoY drop in May whereas analysts were expecting just 0.4% decline. But what the market have missed may be more concerning for container shipping, in our view, which is the sequential drop in export since March. Since 2014, Chinese export has always grown sequentially and on average 14% from March through May, an usual seasonal pattern. This year, the Chinese exports fell 10% in t
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202324] The SCFI slipped by 4.7% last week on the back of slumping transpacific rates with carriers slashing rates on both the West Coast and East Coast routes, erasing all of the recent GRI gains. The US west coast dock labour dispute remains a distraction with only a minimal impact on vessel operations and latent congestion already easing, while the Panama Canal draft restrictions failed to stop rates from falling on the e
Asyad Line has introduced a new Red Sea Express (REX) service connnecting Nhava Sheva, Mundra, Salalah, Jeddah, Sokhna, Nhava Sheva. The service was launched on 1 May 2023 with the newly chartered 2,782 teu GREGOS and the IRENES RULE.
CNC, the intra-Asia subsidiary of CMA CGM, is launching a North China Booster service that connects Dalian, Qingdao, Busan, Kwangyang, Busan, Dalian. The new feeder service will turn in 7 days using the 1,708 teu CNC BANGKOK that will phase in at Dalian on 30 June 2023.
Imoto Lines has received the first of 3 ships of 1,096 teu for the domestic Japanese trade with the KISO that was delivered on 10 May 2023 by Kyokuyo shipyard, although the first port call was made on 2 June 2023 at Kobe. The ship is deployed on the Yokohama, Tomakomai, Sendai, Yokohama route for its maiden service. Imoto will introduce 2 more sisterships to its domestic feeder routes by the end of this year. These ships are the largest ships in the Imoto, surpassing the 670 teu units that are
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202323] Although the SCFI rose by 4.6% on the back of 1 June transpacific rate increases, market sentiment remains poor with the CCFI still sliding and carriers continued to offer discounts with cargo demand still insufficient to support rate hikes. Rates on the Atlantic, Asia-Europe and Australia routes remain under significant pressure, while the recent charter rate rally is starting to soften on the smaller size segments
Container liftings for main carriers fell 6.8% YoY in 1Q 2023, accelerating from the 6.6% YoY fall in 4Q. All 9 of the main carriers recorded volume reductions, with Zim and Maersk recording the largest drops. The aggregate liftings of the 9 carriers in 1Q 2023 were even lower than the 2Q 2020 level during the first COVID wave. Despite the of the continuous improvement of the vessel turnaround time on the easing of port congestion, liner’s volume yield (liftings per slot) has continued to fall
CMA CGM's Containerships has upgraded its Portugal East Coast (PGEC) with new calls at Bassens (France) and Algeciras (Spain) from 6 June 2023. The revised PGEC rotation will call at Rotterdam, Bassens, Setubal, Algeciras, Setubal, Leixoes, Ferrol, Tilbury, Dunkirk, Antwerp, Vlissingen, Rotterdam on a 21 day rotation using 3 ships - the 962 teu SPICA J, 812 teu VOHBURG and 803 teu JORK RULER.