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Services

ESL launch Jebel Ali Bahrain Shuwaikh Service (JBS)

Emirates Shipping Line (ESL) has started a new Jebel Ali Bahrain Shuwaikh Service (JBS) calling at Jebel Ali, Bahrain (Khalifa Bin Salman Port), Shuwaikh, Jebel Ali. The service turns in 7 days on a weekly frequency. The service launched on 17 August 2022 with the 1,678 teu ESL VICTORIA that will make 2 round trips on the JBS before it is replaced by the 1,341 teu ESL ZANZIBAR. (source: Emirates Shipping) JBS service rotation

Markets

SCFI USWC and NEUR Decline Gathering Pace

The decline in container freight rates has been gathering pace over the past week. SCFI suggested spot rates to USWC and NEUR have fallen 11% and 7% respectively over the past week, comparing to decline of 6% and 4% respectively the week before. Utilization in the FE-USWC trade actually picked up a bit the last few days after several very light departures recorded on 19 Aug and 20 Aug involving services independently operated by Maersk, MSC and CMACGM. But those light departures have obviously

Services

X-Press started Matadi Shuttle

X-Press Feeders started new weekly shuttle service,  Matadi Shuttle X-PRESS (MSX), that runs between Pointe Noire and Matadi. The shuttle has started with 618 teu LIMASSOL at Pointe Noire on 3rd August. (source: X-press)

Markets

How Has Container Shipping Stacked Up Against MSCI World?

Container liners proved to be able to generate values for shareholders despite of the cyclicality of their operating performance. From 2000 to July 2022, container liners returned over 700% to their shareholders whereas during the same period MSCI World returned only 440%.

Ports

Chinese Port Throughput Up 10% YoY in July

Global container port volumes have remained resilient in July with aggregated throughput from Linerlytica’s port sample of over 200 ports reaching an estimated new high of  67.07m teu for the month. Chinese ports posted a strong 10% growth in July, led by very strong gains in Shanghai and Ningbo. The volume recovery since lockdowns in Shanghai and parts of Jiangsu province were eased have helped to push the strong volume recovery in the Eastern China ports. Total throughput at Chinese ports re

Port Congestion

European Port Congestion Up

European port congestion picked up over the past week especially in Rotterdam where the number of vessels waiting at anchorage rising very quickly while yard capacity utilization has reached critical levels. Barge traffic has been affected by low water on the Rhine as well as diversions from UK to avoid the Felixstowe port strike. This is relieving congestion at ports further downstream, with German ports seeing a slight reduction in the vessel queues. There were no material change in the numb

Market Pulse – 2022 Week 33

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202233] Port congestion remains flat globally, with the start of the 8-day strike at Felixstowe having only a limited impact. Just 2 containerships are currently in the UK port, with 3 more ships scheduled to arrive after the end of the strike window. Asia Europe freight rates are still falling sharply providing further warning signs that softening demand is outweighing the impact of bottlenecks across supply chain. Contrac

Companies

OOIL Interim In-Line but Costs Figures Questionable

OOIL reported its interim results during lunch last Friday (19th Aug). The results were great in most counters, e.g. 31% QoQ, 101% YoY and then 70% dividend pay-out ratio. But the top line report a month ago has already suggested OOIL earnings may be up $1.2-1.3bn HoH, which is more of less what OOIL report for the bottom line last Friday. The dividend pay-out ratio now becomes a guestimate for its shareholders as OOIL has paid out between 100% and 50% last two rounds. Having a net cash positi

Services

Iris Logistics redeploys transpacific ship with launch of Thailand-Vietnam-Philippines service

Iris Logistics has launched its first intra-Asia service with the 1,118 teu IRIS PAOAY that has been redeployed from its previous Philippines-Los Angeles transpacific run. The new service will call at Manila, Bangkok, Laem Chabang, Ho Chi Minh City, Manila starting from 15 August 2022 with its inaugural call at Ho Chi Minh City. Iris Logistics is a subsidiary of the Royal Cargo Group and it operated previously as Royal Cargo Lines (RCL). It started as a representative office of German freight

Services

COSCO starting AGI2

COSCO is starting a new Southeast Asia to Middle East and India connection with AGI2 starting with 2,174 teu PROGRESS C at Singapore on 31 August. The 28-days weekly service will run in port rotation, Singapore, Mundra, Abu Dhabi, Hamad, Khalifa bin Salman, Abu Dhabi, Singapore. Another 2,174 teu  SPRINTER will join on 11 Sept Singapore.

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