MSC will revise the Asia-US West Coast Sentosa service rotation for the 3rd time this year with calls at Port Klang, Singapore and Busan reinstated together with an extension of the service to India. The revised service is renamed as Sentosa Shikra as it incorporates the existing FE-India Shikra service. The Sentosa service was first launched in April 2021 and has gone through 6 major iterations: * April 2021 to September 2022 - originally focused on the Southeast Asia market calling at Si
Swire Shipping will revamp its North Asia-Oceania Service (NAT) from October 2023 with he service frequency upgraded from 44 days to every 30 days. The revamped NAT will deploy 3 mpp ship of 2,118 teu (KIRIBATI CHIEF, NOUMEA CHIEF, SAMOA CHIEF) on a 90 day rotation that calls at 15 ports - Kaohsiung, Changshu, Yokohama, Osaka, Busan, Lae, Motukea, Noumea, Auckland, Timaru, Tauranga, Marsden Point, Noumea, Vavouto, Subic Bay, Sri Racha, Kaohsiung. The container/breakbulk service will provide t
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202334] Market sentiment has turned negative again, with carriers unable to retain the recent rate increases as the SCFI slipped by 1.2% last week. The setback will make it harder for carriers to push for the next round of rate hikes in September, with no signs of capacity management in place. The idle fleet remains low even as new ship deliveries continues apace. The mounting losses at Zim has forced it to rationalise capa
Zim will withdraw its ships from the Asia-Oceania trade and replace them with slots on MSC's enhanced Oceania services suite from October 2023. The move will affect 14 ships of 1,100 teu to 2,800 teu that Zim currently employs on 3 services on this route. Zim's existing China-Australia Express (CAX) service will be replaced by slots on MSC's Panda service that calls at Busan, Qingdao, Shanghai, Ningbo, Hong Kong, Yantian, Nansha, Brisbane, Melbourne, Sydney, Brisbane, Busan. Zim's current Thai
Maersk has added additional sailings between China/Korea and the US East Coast on its extra loader program for overflow cargo, retaining the routing via the Panama Canal despite ongoing draft restrictions and congestion. Maersk has deployed 8 extra sailings to the US East Coast since the beginning of July 2023 using ships of 3,000-7,000 teu, of which 6 sailings took the Panama route without encountering any significant delays, while 2 sailings were routed via the Suez Canal. * GSL ELEFTHERIA
MSC will revise the rotation of the FE-USEC Santana service from 24 August 2023 to call at Laem Chabang, Cai Mep, Ningbo, Shanghai, Busan, Manzanillo, Cristobal, Caucedo, New York, Norfolk, Laem Chabang. The addition of new calls at Manzanillo and Cristobal allows MSC to offload cargo before the Panama Canal transit due to draft restrictions imposed by the ACP. The revision comes just 11 weeks after the Santana rotation was last changed on 8 June 2023 to call at Haiphong, Shanghai, Ningbo, Bus
After nearly 6 years of suspension, container freight futures are returning to the Shanghai market today. The turnover reached Rmb3.8bn ($500mn) in the first 30 minutes of trading, which is similar to the weekly freight revenue of the FE-NEUR route. source: BANDS FinancialThe product is now called Containerized Freight Index Futures (CoFIF). This product is being traded at INE (Shanghai International Energy Exchange), a subsidiary of Shanghai Future Exchange and is regulated by CSRC (China Sec
HMM’s liner EBIT fell 43%, which is broadly in line with the peers, as fall in freight rates off set increase in volume on the top line. HMM’s volume were up 12% QoQ, similar to CMA CGM and ONE, but is way ahead of Maersk and OOCL (+7% QoQ) and Hapag Lloyd (+4% QoQ).
Yang Ming 2Q earnings avoid sequential fall at the EBIT level as sequential fall in revenue was offset by the reduction in operating expense, which is an outliner. Yang Ming led the container liner peers in 13% QoQ reduction in OPEX excluding bunker, depreciation and SG&A, which consists of mainly port handlings and equity repositioning. Among the liners, e.g. Maersk and Hapag Lloyd, that have disclosed port handling expenses, unit costs for this item were down QoQ but the drop is mostly off
Hapag Lloyd reported before market open on 10 August. Hapag Lloyd’s 2Q results suffered second biggest a bigger QoQ fall in EBIT, following ONE’s 67% as Transatlantic head haul freight rates fell by 50% (Source: Xeneta) while CCFI fell only 7% during 2Q. However, Hapag Lloyd remain a leader in the EBIT margin among its container liner peers. What may have been overlooked however is that Hapag Lloyd has been leading its peers in delivering RoE (return on equity) on more efficient capital managem