Sinotrans is starting Taicang Incheon shuttles (TIS2) that will call Nantong, Taicang, Incheon, Pyeongtaek, Nantong on 7-day round trip. 629 teu XIN TAI PING will be phased in on 2 June at Nantong to start this service.
Medkon is starting a new service, Bulgaria-Romania Shuttle Service (BRO), that connects Ambarli, Gebze, Varna, Constantza, Ambarli on 7-day round trip with 353 teu MEDKON KRM. The service will start on 23 May at Ambarli.
Maersk is launching a new PH1 service on 24 May 2023 calling at Busan, Shanghai, Ningbo, Kaohsiung, Hong Kong, Haiphong, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, Hakata, Moji, Hibiki, Busan. It replaces the current HP3 service that calls at Busan, Kaohsiung, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, with the additional coverage to Vietnam and an extension of the service to Japan. The new PH1 will turn in 35 days using
Maersk is replacing the IA-80 service with a new IA-10 S. China-Siam Bay-Taiwan-Philippines service calling at Taichung, Xiamen, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila North, Taichung from 16 July 2023, starting with the 1,118 teu MCC ANDALAS at Taichung. Calls at Japan and Korea ports will be taken out in the new port rotation although the calls at the Korean and Japanese ports have been omitted since March 2023. The 3 ships previously depl
MSC has changed the port coverage of 10 of its intra-Asia services in May and June 2023, with details as follows: Bengal - new rotation Belawan, Tanjung Pelepas, Singapore, Chittagong, Tanjung Pelepas, Singapore, Belawan using 3 ships of 1,700 teu from 3 June 2023. It replaces the old Bengal service calling at Qingdao, Busan, Shanghai, Ningbo, Shekou, Singapore, Tanjung Pelepas, Chittagong, Singapore, Tanjung Pelepas, Hong Kong, Qingdao. MSC Bengal ServiceBurma - new rotation Belawan, Singapor
Results out after market on 15 May. The fall in aernings and the mid-teen EBIT margin are broadly in line with Asian liner peers already reported. But what may have gone unnoticed in the market is that HMM has quietly took the lead in having the lowest slot costs. HMM has been operating a fleet of larger average vessel size since 2016. The dramatic development between 2018 and 2020 for HMM was due to its improvement in fuel efficiency (e.g. scrubber retrofit) and reduction in dependence on cha
Wan Hai reported its largest quarterly net loss at $70m in the first quarter of 2023, with losses at the gross profit level and operating cashflow level. Wan Hai has reduced its capacity exposure to Transpacific trade from 35% to 25% of its total capacity operated in the first quarter, with most of the reductions in the FE-WCNA route where capacity utilization has declined. Wan Hai's revenue dropped 71% YoY, the deepest YoY drop among the liners that have reported their first quarter perform
Transpacific vessel capacity is rising again after continuously dropping for the last 12 months, but remains 16.7% lower compared to the peak in April 2022. The recent increase was due to the injection of neo-panamax newbuildings of 13,000 to 15,000 teu into the transpacific trade. Meanwhile, Asia-Europe capacity has continued to increase due to the injection of new ships on the route, with the 2M announcing the addition of 9 more ships on their Asia-Europe services from June. Despite the reduc
Carriers failed to push ahead with the mid-May GRI, with transpacific and Asia-Europe rates still slipping amidst an increase in vessel capacity on both tradelanes. Overcapacity continues to pose the biggest challenge to a freight rate recovery, but the weakening freight rates has not deterred carriers from adding more capacity. The charter market is rapidly running out of open tonnage and the idle fleet has dropped to just 1% of the total fleet for the first time since October 2022. The positi
YMM put out its preliminary financial data after market on 12 May and then gave the full quarterly disclosure on 15 May. Profit attributable to shareholder down 95% YoY to a level similar of those seen in the long trough cycle before 2020.