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Service cancellations

Maersk suspends TP20 FE-USEC transpacific service

Maersk has suspended the TP20 FE-USEC transpacific service that connects Jakarta, Cai Mep, Shanghai, Ningbo, Busan, Panama Canal, Mobile, New York, Suez Canal, Jakarta with the last sailing by the 4,252 teu NAGOYA TRADER that has departed from Jakarta on 13 February 2023. The service currently deploys 12 to 13 ships of 4,200-5,500 teu and provides the only direct connection between Jakarta to the US East Coast. The TP20 was first launched by Maersk in July 2021 and was amalgamated with the TP

Services

Meratus launch new PNG Express

Meratus has launched a new Papua New Guinea Express (PNG Express) service that connects Jakarta, Surabaya, Dili, Motukea, Lae, Jakarta from 7 February with the 1,005 teu MERATUS GORONTALO. The service will be operated on a fortnightly basis with a 28 day turnaround with a second vessel, the 1,129 teu MERATUS 1 to join the service on 22 February. The new service will also offer connections from China, Malaysia and Singapore to PNG via transhipment at Jakarta on Meratus' current international net

Services

MSC restarts Asia-Mediterranean Dragon service

MSC is already preparing ahead for life after 2M with the reinstatement of the Dragon service connecting Asia to Mediterranean. The Dragon service was suspended in April 2020 when it was part of the 2M's AE-20/Dragon service. The renewed Dragon service will be operated independently by MSC and will start on 13 March 2023, calling at Shanghai, Ningbo, Yantian, Singapore, Ashdod, Naples, La Spezia, Genoa, Fos, Gioia Tauro, King Abdullah, Singapore, Shanghai. Port rotation of MSC's new Dragon s

Services

Swire Shipping and Carpenter Shipping launch Pacific Weekly Express (PWX)

Swire Shipping and Carpenter Shipping will introduce a new Pacific Weekly Express (PWX) service that connects Port Klang, Singapore, Motukea, Lae, Noumea, Suva, Lautoka/Honiara (alt), Rabaul/Madang/Lae (alt), Port Klang. The new weekly service will start on 24 February 2023 at Port Klang and will deploy 7 geared ships with 6 ships from Swire - RABAUL CHIEF (2,381 teu), TONGA CHIEF (2,118 teu), PORT VILA CHIEF (2,118 teu), VICTORIA (1,678 teu), HIGHLAND CHIEF (1,617 teu) and 1 more ship to be n

Companies

OOIL 4Q revenue dropped $1.8bn or 37% QoQ

OOIL reported 4Q 2022 top line breakdown after Hong Kong market close yesterday (11 Feb). 4Q revenue was down by 37% QoQ and 35% YoY, driven by lower freight rates. Most of the routes, except for Transatlantic, were hit similarly and the fall in average freight rates was broadly in line with the fall in CCFI. OOIL only reports full set results semi-annually. On the $2.2bn or 21% HoH fall in revenue, OOIL's 2H 2022 net profit may also fall about $2bn or 38% HoH. OOIL usually reports past year's

Companies

Container Liners Saw Lower Revenue in January

Taiwanese liners' January revenue continued its slide. In aggregate these 3 listed liners' revenue at about $1.6bn in January was down 14% MoM and 65% YoY. The 14% sequential fall in January was similar to the pace of fall in December. This year's Lunar New Year public holidays went from 21 to 27 January in China. Many factories in China closed ahead of the official public holidays and resumed production later than the official holiday end, which may have negatively impact container shipment v

Services

Maersk adds TH-9 intra-Asia service

Maersk is launching a new Intra Southeast Asia service TH-9 that calls Laem Chabang, Kuantan, Tanjung Pelepas, Jakarta, Tanjung Pelepas, Songkhla, Laem Chabang on a 14-day round trip using the 2,362 teu MAERSK NORBERG and 2,362 teu MAERSK NASSJO starting from Jakarta on 8 April 2023.

Companies

Maersk guided 80-90% YoY fall in earnings during 2023

Maersk reported before European market open today (8 Feb). 4Q EBIT came out as $5.0b, better than the $4.8bn guided in November. Although not being very surprising, this beat has to be viewed in context that the 4Q EBIT was down 47% QoQ and 26% YoY. The main delta contributing to Maersk's profit was the 23% QoQ fall in average freight rates, which however was less than the 455 QoQ fall in CCFI due to Maersk's higher than average contract mix. The most concerning to the capital market is that

Services

MSC adds new NWC-Dublin and Cork service

MSC will add a new service connecting NWC to/from Dublin and Cork that will provide connections at the Northwest Continent hubs of Antwerp and Le Havre. The service will start on 28 February 2023 at Dublin with the 1,730 teu CARLA-LIV that will call at Dublin, Cork, Le Havre, Antwerp, Dublin. The service will turn in 2 weeks. NWC TO/FROM DUBLIN AND CORK service rotation

Services

MSC reconfigures Sentosa transpacific service with extension to India

MSC will extend its Sentosa transpacific service to the Indian subcontient with the addition of new calls at Nhava Sheva, Mundra and Colombo. The extended Sentosa service will call at Nhava Sheva, Mundra, Colombo, Port Klang, Singapore, Tanjung Pelepas, Laem Chabang, Cai Mep, Dachan Bay, Shekou, Long Beach, Oakland, Busan, Qingdao, Shanghai, Ningbo, Kaohsiung, Shekou, Singapore, Nhava Sheva, starting from 13 February 2023 with the 11,660 teu MSC SOLA from Nhava Sheva. The extended service wi

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