Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202315] 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
Samskips has added a weekly Gothenburg-Iceland connection with the addition of the Swedish port on its existing Iceland-Faeroe-Europe service starting from 6 April 2023. The service will call at Rotterdam, Cuxhaven, Gothenburg, Aarhus, Runavik, Reykjavik, Grundartangi, Vestmannaeyjar, Runavik, Rotterdam using the 908 teu HELGAFELL and ARNARFELL that will turn on a 14 day rotation.
Hornafric Sea Shipping, a freight and logistics brokerage based in Dubai has launched a new service between the Middle East and Somalia. The service will connect Salalah and Bosaso in Somalia using the 665 teu geared mpp vessel CELESTIA that has been chartered for 6 months for $12,300 per day.
Hapag-Lloyd will launch a new West Coast South America Feeder 4/WCSA Feeder 4 (WS4) service that connects Peru and Chile. The WS4 service will start from 5 June 2023 and call at Callao, Iquique, Puerto Angamos, Arica, Callao with the 1,930 teu newbuilding CAPE BRUNO. The service will turn in 2 weeks, with a second ship to join the service later in June.
OOIL's 1Q 2023 shipping top line and breakdowns came out after Asian market on Thursday (6 Apr), being the first container liner to provide 1Q 2023 top line report. Revenue dropped 31% QoQ on average freight rate fall, which is in line with CCFI's 33% fall during the same period. Overall 1Q 2023 volume was flat QoQ. Transpacific volume being up 11% QoQ suggested OOCL, the shipping liner of OOIL, may have gained market share during past quarter as the US import from Asia was down during 1Q 202
Russian carrier Modul has launched a new Modul America Russia Express (MAREX) service that connects St Petersburg with Paranagua and Santos. The service started on 16 February 2023 with the 1,735 teu mpp vessel HUANGHAI STRUGGLER from St Petersburg and arrived at Paranagua on 19 March and Santos on 25 March. Modul also operates the Modul India Russia Express (MIREX) service that was launched in September 2022 connecting St Petersburg with Mundra, Nhava Sheva and Jebel Ali using 2 ships - the 1
X-Press Feeders will add a new call at Cork on its Bilbao Gijon X-Press (BGX) replacing the current call at Vigo and switch the Cork call to after Southampton ahead of Dublin and Belfast on its Irish Sea X-Press 3 (ISX3) service. Both of these changes will be effective from 18 April 2023. The revised BGX rotation will be Rotterdam, Dunkirk, Gijon, Bilbao, Cork, Rotterdam starting with the 1,036 teu X-PRESS ELBE at Cork on 21 April. Bilbao Gijon X-Press (BGX) rotationThe revised ISX3 rotation
X-Press Feeders will add new calls at Gdansk and Gdynia on its Intra Baltic X-Press (IBX) service from April 2023. The revised rotation will turn in 2 weeks and call Rotterdam, Gdansk, Gdynia, Klaipeda, Riga, Rotterdam starting with the 917 teu X-PRESS GODAVARI at Gdansk on 6 April and the 809 teu X-PRESS MULHACEN at Gdansk on 13 April.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202314] Market sentiment turned positive for the first time since September 2022, with rising conviction around a mid-April rate increase on some key routes. Carriers are making a last-ditch effort to raise spot rates on the Transpacific ahead of the 1st May contract season with rates expected to rise by $500-600/feu. The SCFI rebounded marginally last week on improved rates in the Middle East and Latin America on the back
COSCO reported after Hong Kong market close last Thursday (30 Mar). COSCO’s liner EBIT dropped only 32% YoY, which is much better most of the liner peers except for Maersk and Hapag Lloyd which have more favorable mix e.g. 2022-2023 contracts and exposure to Trans-Atlantic trade. Part of the reason that COSCO outperform probably was due to the large provision made during 4Q 2021, which raised COSCO’s non-cash slot costs and hence the payables as reflected in the work capital balance.