All News

Ports

Inbound Outstripped Outbound by 2.7 times at US Ports

US ports continued to face a heavy container imbalance in the first half of this year, with laden inbound container volumes outstripping laden outbound volumes by 2.7 times. Aggregated data from the 10 largest ports in North America showed that inbound volumes grew by 5.1% in the first 6 months of the year compared to the same period last year while outbound volumes dropped by -9.4%. Empty container handling volumes increased by 13.3% to reach a record high of 8.8m teu in the ports surveyed du

Port Congestion

Port Congestion up On Typhoons In South China

Global port congestion spike up last week on the back of an increase in congestion in South China due to the typhoons that hit the region last week. Typhoon Mulan disrupted port operations in South China last week, with vessel congestion building up over the past week. The situation has already started to ease with ports expected to clear the backlog within the coming week. There was no increase in port congestion in the Taiwan/Fujian despite the tensions in the Taiwan Strait. Container traff

Markets

Transit Time Down YTD except USEC

Transit times to US East Coast ports is lengthening noticeably with both the Atlantic Coast and Gulf Coast ports experiencing increased waiting times. Savannah is the most badly affected port currently with waiting times of up to 20 days, with vessel queues still building. There are currently 37 ships waiting to berth a Savannah which can handle only 6-9 ships at any time. New York and Houston are also experiencing delays of up to 10 days. While the situation at other USEC ports are not as criti

MarketPulse

Market Pulse – 2022 Week 32

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202232] Hopes for a peak season reprieve have been dashed with carriers continuing to slash rates in their futile attempt to retain volumes amidst weak cargo demand. Rates on some intra-Asia corridors have dropped to pre-Covid levels, in an early warning sign that the high freight rates that carriers have enjoyed in the last 2 years could unravel very quickly. The SCFI slipped by 4.7% last week but further drops are inevitab

Services

Tailwind Shipping joins TOP 50 list as it expands its service coverage to North Europe

Tailwind Shipping has become the latest carrier to join the Linerlytica Top 50 carrier list, after its operated fleet swelled to 5 ships with a total capacity of 17,206 teu, including 2 units that it has purchased in the last 3 months. The company’s fleet is expected to rise further with 3 more chartered ships to join the newly established carrier in the next few weeks. Tailwind is also reported to have acquired 2 newbuildings of 1,380 teu currently under construction at Jinglu Penglai that wil

Companies

YMM 2Q also turned south

YMM's reported another set of great results much in line with the other liners already reported. However, market consensus may have expected it and the market focus at this point is whether the liner earnings could sustain. YMM's net profit were down 12% QoQ on sequential decline in the spot freight rates and increase in bunker price. In the details, liner EBIT down 8% QoQ or $217mn. Revenue was down $110mn QoQ, driven primarily by the spot freight rates, while bunker expenses, driven by bunker

Financials

HMM 2Q earnings dropped QoQ

HMM reported on 10th Aug. HMM's 2Q earnings was down 13% QoQ at group level. (correction: previously mistaken as 58% drop) Though, the group level operator cashflow was down only 3% QoQ. Hence, most of the 13% sequential drop in earnings was due to non cash items. One of those non cash items is the derivative valuation losses (>KRW 1bn), which, in our estimate, may be long KRW positions as hedges to HMM's likely future KRW payments e.g. debts and head office expenses. However, HMM container d

Services

Sealand Starts PH9 Connecting S China and ASEAN

Sealand Asia is starting PH9 calling Xiamen, Taichung, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila, Yantian, Hong Kong, Cagayan de Oro, Cebu, Xiamen on 28-days round trip. The service will start with 1,750 teu NORDTIGER on 13 August at Cagayan de Oro.

Services

ZIM starting MXC

ZIM is starting Mexico Central America Express (MXC) calling Progreso, Veracruz, Altamira, Santo Tomas De Castilla, Puerto Cortes, Kingston, Progreso. The service will start with 966 teu CONTSHIP PEP on 10 October at Progreso. The service seems to go on fortnightly basis.

Services

Sinokor starts Shanghai Russia Service

Sinokor is starting Shanghai Russia Service (SRS) calling Busan, Kwangyang, Shanghai, Busan, Vladivostok, Busan. The service will start with 1,003 teu HEUNG-A XIAMEN on 20 August at Busan. Another ship, 1083 teu HE SHENG, will join at Shanghai on 31 August, after being out of drydock.

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