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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

Services

SeaLead launch new Mediterranean-US East Coast service

SeaLead has introduced a new Mediterranean-US East Coast (MEC) service connecting New York, Norfolk, Charleston, Jacksonville, Damietta, New York. The MEC service started on 22 January 2023 with the 3,380 teu AVNI from New York, after a trial Transatlantic run by the same vessel in December 2022. The new service turns in 5 weeks but will operate on an irregular basis with only 1 ship currently deployed.

Services

SeaLead reroutes Asia-US East Coast service via Suez

SeaLead will re-route its Asia-US East Coast (AEC) service from Panama to the Suez route by transhipment at Damietta. The service will replace its previous AEC service that was first launched in March 2022 to connect Nansha, Ningbo, Qingdao, Busan, Norfolk, New York, Charleston, Jacksonville, Nansha via the Panama Canal. TS Lines joined the service in July 2022 by adding a 5,400 teu ship to complement the 3 ships of 4,900-6,900 teu that SeaLead employed on the AEC. This service has been suspende

Services

SeaLead launch Five Seas Express (5CX) from China to the Red Sea and Mediterranean

SeaLead has launched a new Five Seas Express (5CX) service connecting Qingdao, Shanghai, Ningbo, Nansha, Port Klang, Jeddah, Damietta, Ambarli, (Misurata - irregular), Damietta, Jeddah, Port Klang, Qingdao. The service started on 12 December 2022 with the 6,966 teu TIMON, followed by the 6,661 teu HAKUNA MATATA on 15 December 2022 and the 5,060 teu PUMBA on 28 December 2022 from Qingdao. It will turn in 10 weeks on an irregular frequency, with 6 ships of 5,000-7,000 teu currently assigned to t

Services

SeaLead launch Sudan Red Sea Shuttle (SRS)

SeaLead has launched a new Sudan Red Sea Shuttle (SRS) service connecting Jeddah and Sudan on 20 January 2023 with the 1,078 teu SENTOSA TRADER. The service operates on a 10 day frequency and calls at the DPW Red Sea Gateway Terminal in Jeddah and the Port Sudan container terminal.

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