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Market Pulse – 2023 Week10

Register Free Trial [] Further freight rate corrections can be expected with US port congestion now effectively cleared while the residual congestion in China and Europe are no longer causing any severe bottlenecks for the global container supply chain. Chinese ports are mostly fluid with the recent buildup of ships in Shanghai/Ningbo due more to scheduling than berthing delays, while European congestion is mostly limited to French ports d


CMA CGM net profit down 57% QoQ

CMA CGM disclosed some head line figures for its FY2022 and Q4 2022 results on March 4. The group level net profit dropped 57% QoQ and 55% YoY, driven primarily by lower container freight rates (-13% QoQ) and to lesser extent lower volume (-9% QoQ). CMA CGM has not disclosed its expenses break-downs and liner level EBIT in this set of numbers. Group level net profit dropped $4bn QoQ against $3.6bn QoQ drop in shipping segment's EBITDA suggest the depreciation (e.g. chartering expenses) and tax e


PIL introduces Gulf China Service 2 (GC2) through slots on GALEX

PIL has introduced a new Gulf China Service 2 (GC2) through a slot arrangement with ESL on the Galex service. The service is jointly operated by Emirates Shipping Line (ESL), Global Feeder Shipping (GFS), KMTC and RCL using 7 ships of 6,500-8,500 teu with a full rotation that calls at Busan, Shanghai, Ningbo, Xiamen, Dachan Bay, Port Klang, Khor Fakkan, Jebel Ali, Sohar, Qingdao, Busan. PIL's GC2 will start on 17 March 2023 on the 8,540 teu HAKARA SEOUL. The GC2 coverage will not include Qingda


CMA CGM launches new West Africa Feeders

CMA CGM is launching a couple of West African Feeders. Central Range Feeder, calling Abidjan, Monrovia, San Pedro, Takoradi, Abidjan on weekly basis with two 1,338 teu ships, will start on 23 March with ATLANTIC SILVER at Abidjan. The second ship CMA CGM NOUADHIBOU will phase in on 13 April at Abidjan. Both ships have been deployed at CMA CGM's Wazzan Service, which goes between ports at Straits of Gibraltar and West Africa. North Range Feeder, calling Dakar, Banjul, Darkar on once every 9-da


ZIM launches new Caribbean Service

Zim launches Caribbean Gulf Express (CGX) that will rotate through Kingston, Houston, Mobile, Kingston with two vessels on 14-day round trip. 1,100 teu CONTSHIP DON will phase in on 14 April at Houston while 1,496 teu WARNOW MASTER will phase in on 15 April at Kingston. Until recently, both vessels have been deployed in ZIM's Intra-East Mediterranean. They will both take a single voyage in ZIM's ZIM Container Service Atlantic to be positioned to the US East Coast before joining CGX.


Transfar Shipping not owned by Worldwide Logistics and is not an affiliate of Safetrans Line.

Transfar Shipping has informed Linerlytica that it is not owned by Worldwide Logistics and is not an affiliate of Safetrans Line. Transfar Shipping was established in Singapore in 2018 and operates independently on the transpacific trade since 2021.

Vasi Shipping introduces East/South Africa service

Vasi Shipping has launched a new service connecting from the Far East to East and South Africa. The service started on 30 December 2022 and calls at Port Klang, Nhava Sheva, Mundra, Jebel Ali, Mombasa, Durban, Port Klang, Ningbo, Port Klang. It deploys the 1,756 teu NORDPANTHER and 1,723 teu GREEN HOPE on a 60-70 day rotation with sailings once a month. The service caters exclusively for SOC (Shipper Owned Container) cargo.


JJ Shipping Launches CHH3

Shanghai Jin Jiang Shipping (JJ Shipping) is launching CHH3, a new connection between China and Vietnam. This new weekly service will turnaround in 14-days going through Qingdao, Shanghai, Nansha, Haiphong, Shanghai, Qingdao with two vessels. The 1,098 teu MILD JAZZ will phase in on 7 March at Nansha. MILD JAZZ has been servicing in JJ Shipping's Four Season Express or CHH2, which connects Japan, East China and Vietnam.


SeaLead to launch Australia-India ASIA service

SeaLead will launch a new Australia-Indian Subcontinent service branded as the ASIA service from 20 March. The service will start from 20 March 2023 with the 4,250 teu REN JIAN 26 and call at Port Klang, Melbourne, Sydney, Brisbane, Port Klang, Karachi, Mundra, Nhava Sheva, Port Klang. The service will be operate on an irregular basis with only 2 ships with a frequency of 20-30 days, with plans to increase the frequency in the second half of 2023. SeaLead's ASIA service port rotation


China export Index and anecdotal contrast

The latest China manufacturing PMI new export order index reported as 52.4 before market open on 1 March, suggesting the strongest expansion since March 2011. (source: National Bureau of Statistics). The PMI indices measure sequential changes and value above 50 for this index suggests expansion. Since January 2011 this index has produced only 51 expansionary values against 95 contractionary values. This latest print of 52.4 however contrasts with the anecdotal stories we heard about the current

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