SITC provided 3Q operation update at noon on Monday (24 Oct). SITC's container shipping and logistics revenue up 41% YoY but dropped 20% QoQ.
K&N reported CHF688mn net profit for 22Q3, up 19% YoY but down 14% QoQ, accelerating sequential fall in earnings. We have expected the earning cycle of seafreight forwarders to move earlier than the container liners in this down cycle on the premises that spot rates, which the forwarders may rely on for the income, have declined faster than the the contract rates, which represent the bulk of forwarders' cost base. So far, K&N seafreight earnings have started to come down sequentially since 22Q2,
LC Logistics, the parent company of BAL Container Line, has filed for an initial public offering (IPO) in Hong Kong on 24 October 2022. The company was founded by Xu Xin in 2004 in Qingdao as Shandong Lcang to provide freight forwarding services and is a related company of Qingdao Boan that is engaged in container sales and leasing. BAL Container Line was established as the liner operating arm of the Shandong Lcang Group in August 2012 in Hong Kong to provide SOC container transportation se
CU Lines has committed to continue operating the Transpacific Express II (TPC) service through 2023 with a new cooperation with Trapac in the port of Los Angeles that will ensure a more reliable schedule to the US West Coast. From October 2022, the revised TPC will call at Qingdao, Shanghai, Ningbo, Nansha, Yantian, Los Angeles, Qingdao with the additional calls at Qingdao and Shanghai that are shifted from the TPX service that was suspended in September. The service will deploy 7 ships, com
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202242] The container market has continued to weaken with demand softening at a faster pace than carriers are able to adjust capacity to match. Port congestion is easing across all main regions, with the recent build up of ships at Chinese ports already starting to clear, partly from reduced congestion but also due to ships returning to service after anchoring temporarily for blanked sailings during the Golden Week holidays.
Focus Container Line, a new shipping company based in Brisbane, Australia, will launch a new service linking China to New Zealand and Australia from November 2022. The new service will kick off from Ningbo on 4 November 2022 with the 1,497 teu mpp ship BBC DENMARK and followed by the 1,756 teu SAN GIORGIO on 19 November 2022. The 2 ships will be deployed for 2 round trips connecting Ningbo, Auckland, Ningbo with intermediate calls at Brisbane, Sydney and Melbourne on some of the sailings. The
Kalypso, part of the Italian Rif Line Group, will launch a new Cristoforo Colombo Line transatlantic service connecting Italy, Spain and US from November 2022. The new service will start from 8 Nov with the 3,091 teu HAMMONIA LIPSIA at Mersin, to be followed on 24 Nov by the 1,795 teu EMORA. The initial Mersin call will be dropped from December and the service will then call Salerno, La Spezia, Sagunto, New York, Salerno using the 2 ships running on a 26 day rotation with sailings every 13-14 d
SITC and Jin Jiang Shipping (JJS) have revised their jointly operated China-Thailand-Vietnam (VTX5/CTX2) service, with a completely revised rotation from October 2022. The service was launched on 1 June 2022 and had originally called at Shanghai, Nansha, Bangkok, Laem Chabang, Ho Chi Minh City, Shanghai. The last sailing on the previous rotation was made on 11 October 2022. The revised VTX5/CTX2 service will call at Lianyungang, Qingdao, Laem Chabang, Bangkok, Laem Chabang, Ho Chi Minh City,
COSCO and OOCL will launch a newChina New Zealand Express (CNX) service calling at Shanghai, Shekou, Hong Kong, Auckland, Hong Kong, Shanghai, with an optional call at Napier planned. The first sailing will start on 10 November 2022 by the 2,174 teu ADVANCE with an adhoc Ningbo call on 17 November 2022. The CNX will complement the 2 carriers' current China New Zealand Service (CNS), North Asia Express (JKN) and New Zealand/South East Asia Express (NZS) services. Port of rotation of the new Chi
Swire Shipping and UWL have committed to operate the Sun Chief Express service between Vietnam and Seattle until 2024. The Sun Chief Express was launched on 26 April 2022 by Swire and its exclusive NVOCC partner UWL to provide connections between Ho Chi Minh City, Haiphong, Seattle, Ho Chi Minh City using 3 Chittagongmax containerships of 2,381-2,750 teu on a fortnightly (14 days) frequency. The service offers the fastest transit times from Vietnam to the US West Coast of 19 days from Ho Chi