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Market Pulse – 2023 Week16

Register Free Trial [] Freight rates have rebounded strongly on the back of the mid-April GRI, with the SCFI up 8% last week due mainly to rate increases on the Transpacific, Middle East and Latin America routes. Transpacific spot rates increased by 29% to the US West Coast to over $1,600/feu, providing carriers some leeway to negotiate contract rates at $1,400-1,500/feu – a level that would not be possible to achieve if spot rates had rem


e-Shipping launch Korea Vladivostok Express (KVE) service

e-Shipping, a new carrier based in Turkey with backing from Russian interests, has launched the Korea Vladivostok Express (KVE) service that connects South Korea and China with the Russian Far Eastern port of Vladivostok. The KVE will deploy 3 ships of 700-1,700 teu that will call variously at Vladivostok, Busan, Xingang, Dalian, Rizhao, Shanghai, Ningbo, Xiamen and Shekou. The service was started from 3 March 2023 with the 698 teu FESCO PARIS that is on charter from FESCO, and was followed by


Unimed adds Malta-North Africa service

Unimed has launched a new Malta-North Africa feeder service that connects Malta, Skikda/Sfax, Malta on 15 April 2023 with the 936 teu MOLIVA.


CMA CGM and Unifeeder to launch Greece-Turkey-Georgia service

CMA CGM and Unifeeder/Unimed will launch a new Black Sea service that will call at Piraeus, Ambarli, Poti, Piraeus starting from 21 April 2023. The service is branded as the Caucasus Georgia Express by CMA CGM and Greece-Turkey-Georgia service by Unifeeder/Unimed, and will deploy the 1,096 teu CMA CGM BLOSSOM and the 1,145 teu SC PHOENIX on a 14 day rotation.


Liners monthly revenue rebounded sequentially in March

Taiwanese liners’ March revenue (in USD) rebounded 14% MoM versus CCFI’s continue decline. YoY comparison is still negative by 66%. The sequentially rebound is likely volume driven, a normal seasonal pattern from Feb to Mar.


Ellerman introduce Poland-UK IPEX service

Ellerman will launch a new Poland to UK Express (IPEX) service from 28 April 2023 calling at Gdynia, Teesport, Tilbury, Gdynia with the 966 teu NOVA.


Tangshan Hede launch China Vietnam Thailand service

Tangshan Hede Shipping has launched a new China-Vietnam-Thailand 1 (CVT1) service that will provide the first direct connection between its home port of Tangshan with Vietnam and Thailand via transhipment at Nansha. The CVT1 service connects Nansha, Ho Chi Minh City, Laem Chabang, Nansha. The service started on 7 April 2023 with the 1,096 teu HS HONG KONG that has joined Hede Shipping on a 6 to 8 months charter at $13,000 per day. (Update : The ship has been replaced by the 1,060 teu TRANSIMEX


Zim-Hai An joint venture Lotus Link launch HSP1

Lotus Link, the joint venture of Zim and Hai An Transport, has launched its first service from 18 March 2023.  The Haiphong-Saigon-Port Klang 1 (HSP1) service connects Haiphong, Ho Chi Minh City, Port Klang, Ho Chi Minh City using 2 Vietnamese flagged ships - the 1,060 teu HAIAN LINK and the 1,134 teu TC SYMPHONY that allows it to operate on both the domestic route and international route.

COSCO 1Q EBIT dropped 60% QoQ

COSCO's 1Q profit alert out after market in Shanghai today (10 Apr). Profit to shareholders (in Rmb) dropped 44% QoQ an 68% YoY. No revenue figure has been given and hence OPEX and EBIT margin are not available. COSCO has book a large amount of provision during the past two years and hence COSCO's EBIT going forward may not be comparable to the industry peers.


Market Pulse – 2023 Week15

Register Free Trial [] Market sentiment continues to turn positive, led by Transpacific carriers that have announced GRIs on the Asia-US trade that will push spot rates up by $600-1,000 per feu on 15 April. Capacity utilisation on the US West Coast routes have risen in the last 2 weeks with supply still limited by blanked sailings, which would provide support for the GRI push that will mark the first significant rate rebound since July 202

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