Wan Hai and Feedertech/Unifeeder have teamed up to launch a new India-Middle East Service (IM1/IMS) that will call at Mundra, Nhava Sheva, Jebel Ali, Port Qasim, Mundra. The service will turn in 2 weeks and deploys the 1,858 teu BIG BREEZY from Wan Hai that will join the service on 1 August 2023 and the 1,613 teu SSL MUMBAI from Feedertech that joins on 8 August 2023. The India-Middle East Service (IM1/IMS) will start from 1 August 2023
CU Lines’ global expansion plans have been derailed with the withdrawal of its last 2 ships on the Asia-Med and Asia-USWC routes. CUL’s Initial Public Offering (IPO) bid first launched in January 2022 has already been withdrawn, and its goal of operating a fleet of 45 ships for 160,000 teu by 2025 will not be achieved with its current operated fleet shrinking by 67% from its peak in 2022 to just 30,700 teu currently. CUL has a remaining orderbook of 6 ships with a total capacity of 24,200 teu in
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202331] Freight rates have rebounded sharply on the back of the 1 August rate increases, with the SCFI rising by 6.5% at the end of last week. High capacity utilisation on the transpacific routes, especially to the West Coast will ensure rates remain elevated to North America with the ILWU Canada contract negotiations still not resolved. Asia-Europe rates will be less resilient, with carriers already under-cutting rates as t
ONE reported a 58% QoQ drop in net profits in the 2nd quarter of 2023, with its higher exposure on the Transpacific routes dragging down its overall profitability by a larger margin compared to CMA CGM. EBIT margins dropped to 10%, its lowest level since 2020 but net profits were boosted by net interest income due to positive cash balances (ONE does not provide balance sheet details and interest income breakdown). ONE did not provide earnings guidance for FY2023, citing low visibility. However
CMA CGM recorded a 34% QoQ and 83% YoY decline in net profits to $1.3 Bn in the second quarter of 2023 on weaker freight rates despite improved liftings that saw sequential volume increases that confirmed the trend shown in our high frequency data on weekly capacity and utilization. But CMA CGM recorded a larger QoQ sequential drop in its average revenue per teu compared to the CCFI due to contract mix and Trans-Atlantic exposure relative to CCFI. Trans-Atlantic head haul freight rates have fall
CNAN Nord has restarted its Algeria-West Africa service to Nouakchott and Dakar with the return of 2 of its 7 ships that have been idle since 2021 and 2022. The 12,645 dwt/665 teu KHERRATA has been deployed on the Alger-Nouakchott line from 24 June 2023 while the 12,161 dwt/842 teu TIMGAD will be deployed on the Algeria-North Europe service with the first call at Antwerp scheduled on 8 August 2023. TIMGAD had been stranded in Belgium since September 2021 and was finally released from detention
CU Lines have made its last voyages on the Asia-Europe and Transpacific routes, ending its brief foray into the main East-West routes and will henceforth refocus on its core intra-Asia and Far East-India Subconinent & Middle East routes. The move will effectively terminate its planned Initial Public Offering (IPO) that was launched in Hong Kong on January 2022. The last Asia-Europe sailing was made by the 1,912 teu ZHONG GU NAN HAI on its Asia-East Mediterranean (AEM) service that called at Amb
Asyad Line has upgraded its Far East Express (FEX) line that connects Oman with India, Singapore and Malaysia with the addition of a new call at Jakarta in Indonesia together with the addition of a 4th ship with the service frequency upgraded to weekly. The upgraded FEX rotation calls at Singapore, Port Klang, Nhava Sheva, Mundra, Karachi, Sohar, Jebel Ali, Dammam, Jebel Ali, Nhava Sheva, Jakarta, Singapore. The first Jakarta call at made on 1 July 2023, marking Asyad's first direct call at Ind
Sealand Asia (Maersk) and TS Lines will add a northbound call at Qinzhou on their jointly operated NV2 service starting from 2 August 2023. The revised NV2 will retain a 14 day rotation and call at Ningbo, Shanghai, Hong Kong, Haiphong, Qinzhou (new), Hong Kong, Ningbo. The service currently deploys 2 ships of 1,000-1,200 teu with Sealand and TSL each contributing one ship.
ONE will launch a new Thai Hakata Express (THX) service from 10 August 2023 through slots on the existing SITC/Jinjiang Shipping (JJS) Vietnam Thailand Express 5 / China Thailand Express 2 (VTX5/CTX2) service. The service calls at Lianyungang, Qingdao, Laem Chabang, Bangkok, Laem Chabang, Ho Chi Minh City, Nansha, Hakata, Osaka, Kobe, Busan, Lianyungang but ONE's THX will be limited to the northbound connections calling at Bangkok, Laem Chabang, Ho Chi Minh City, Nansha, Hakata, Osaka, Kobe.