All News


EMC: Lower Freight Rates Higher Bunker Price for 3Q

Evergreen Marine Corp (EMC), the listed subsidiary of Evergreen Group, provided an update presentation in Taiwan after market last Friday (14th Oct). The presentation materials provided additional color on the Evergreen's operation and relevant read through to the whole liner industry. First, decline in freight rates was the main reason for the 16% MoM drop in the Evergreen's revenue in September. During Sep, Evergreen's volume was down 5% MoM while the freight rates dropped 12% MoM. in the de


Allseas defaults on ship charters

3 ships of 1,700-1,800 teu currently chartered by Allseas that are operating on the China-UK route are currently stranded with Allseas confirming that it is in negotations with owners, while 2 more ships are already confirmed to be off-hired. An Allseas spokesperson said on 19 October 2022 that the company and its related parties have not filed for insolvency. Update : An admistrator for Allseas Global Project Logistics was appointed on 27 October 2022 in the UK courts. The affected ships are


SeaLead/TS Lines turns to US East Coast as US West Coast services are suspended

SeaLead and TS Lines have revised their jointly operated Asia-US East Coast (AEC) service with a new rotation calling at Nansha, Ningbo, Shanghai, Qingdao, Busan, Manzanillo (Mexico), Jacksonville, Charleston, Norfolk, New York, Nansha. The service was first introduced in March 2022 and initially called at Nansha, Ningbo, Qingdao, Busan, Norfolk, Newark, Charleston, Jacksonville.  The revised rotation with the call at Jacksonville as the first US port was made on 22 September 2022 with the 5,4

Port Congestion

Port congestion remains on downward trajectory

Global port congestion increased marginally to 2.79m teu at the end of last week compared to 2.70m teu a week ago, but the overall trend remains on a downward trajectory as congestion is starting to ease across the main hotspots in the US and Europe. There was a small increase in ships waiting at Chinese ports, especially around Qingdao where strong winds shut down terminal operations last week while Ningbo depot operations in the Beilun area were affected by COVID lockdown restrictions. There


Unifeeder adds UAE coastal service

Unifeeder has started a new coastal service that will connect Jebel Ali with other UAE ports Ajman, Mina Saqr and Sharjah using modified multi-carrying vessels (MCVs) from fellow DP World subsidiary P&O Maritime Logistics. The 210 teu TOPAZ ISHIM sailed from Jebel Ali to Ajman on 7 October 2022. The service will operate 2-3 calls per week, with a focus on providing relay connections at Jebel Ali between the UAE to the wider Middle East, Africa, the Indian Subcontinent and Far East.


2M merges TP1/Maple and TP9/Eagle Transpacific West Coast service, Maersk withdraws TP7

2M partners, Maersk and MSC, will suspend their existing TP9/Eagle service and merge it with the TP1/Maple to form a New TP1/Maple service that will call at Xiamen, Yantian, Ningbo, Shanghai, Busan, Yokohama, Vancouver, Prince Rupert, Yokohama, Busan, Xiamen from 22 October 2022 with the 8,466 teu MAERSK SEVILLE. The service rationalisation will see the removal of direct calls at Nansha, Kaohsiung and Seattle on the 2 existing services but will enhance the service reliability that has been affe


Matson 3Q EPS down 29% QoQ

Matson provided preliminary 3Q earnings after market close on Monday (Oct 18). 1. 3Q22 net income and diluted EPS were expected to be $257mn to $262mn and $6.67 to $6.79, respectively, which means EPS was down about 29% QoQ but still up 2% YoY. 2. Ocean transport, which is driven primarily by Matson's China-US routes namely CLX, CLX+ and CCX, was expected to have generated $310mn to $315mn, down 34% QoQ and 14% YoY. 3. Container volume was expected to be 112,707 feu in 3Q,


Market Pulse – 2022 Week41

Register Free Trial [] The pace of SCFI price drops have slowed after the Golden Week holidays, dropping by just 5.7% compared to the pre-holiday level, but the CCFI took a sharper 13.0% drop as carriers adjusted their contract rates downwards in response to the plunge in spot rates. Rates will continue to decline as current capacity cuts remain insufficient to support the weaker cargo volumes. Charter activity has picked up after the tur


Containerships Launched BALT N

Containerships, subsidiary of CMA CGM, launched Baltic Norway (BALT N) service that calls Klaipeda, Gdynia, Oslo, Aarhus, Klaipeda on weekly basis. The service has started with 750 teu ENFORCER on 4 October at Aarhus.


CMA CGM revamp Brazex services

CMA CGM will revamp its existing BRAZEX 1 and BRAZEX 2 services that connects the US Gulf Coast with the Caribbeans and Brazil. The NEW BRAZEX will start from 11 November and call at New Orleans, Houston, Veracruz, Kingston, Cartagena, Salvador, Santos, Navegantes, Paranagua, Santos, Rio de Janeiro, Cartagena, Kingston, New Orleans with 7 ships of 3,600-6,000 teu. A separate MANAUS SHUTTLE service will start from 29 November and call at Kingston, Manzanillo, Manaus, Vila do Conde, Kingston us

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