Continental Shipping Line (CSL) has repudiated the charter for Euroseas' 1,471 teu AEGEAN EXPRESS that was originally fixed in April 2022 for a period of 36 months at a daily time charter rate of $41,000. The ship was drydocked in October 2022 and was still undergoing the drydock in January 2023 when CSL repudiated the charter. Euroseas said it is pursuing legal action and the ship is currently seeking a replacement charter after completing drydock on 10 February 2023. CSL had first chartered t
Samudera Shipping has merged 2 Southeast Asian feeder services into an extended rotation connecting Yangon, Singapore, Quinhon, Danang, Singapore, Yangon. The extended service will replace the Singapore Yangon Service (YGX) and Central Vietnam Service (CVS) and the 3 ships that are currently operating on these services have been phased into the new service - the 1,054 teu SINAR SOLO and SINAR BANDUNG, together with the 1,048 teu SINAR BANDA.
MTT Shipping has launched a new Straits Yangon service connecting Singapore, Port Klang, Yangon, (Penang-optional), Singapore using the 1,162 teu MTT SAISUNEE. The service will start from Singapore on 19 February 2023 and will operate with a single ship on a 13-14 day frequency. The service will call at Westport in Port Klang and at Myanmar Industrial Port (MIP) in Yangon. Samudera Shipping, Continental Shipping and OOCL are taking slots on this service that is branded respectively as the Yan
The launch of the new ZIM Colibri Xpress (ZCX) service connecting San Antonio, Callao, Guayaquil, Cartagena, Kingston, Philadelphia, Miami, Kingston, Buenaventura, Guayaqui, Callao, San Antonio has been delayed from March to April. The first sailing is scheduled to depart from San Antonio on 7 April 2023 with the 1,732 EM SPETSES. The ZIM Colibri Xpress (ZCX) is named after the South American Colibri hummingbird and will deploy 6 ships of 1,700 teu. The other ships to be deployed will be the H
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202307] Spot freight rates have resumed their weekly slide with capacity utilisation remaining weak while the blank sailing programs after the Lunar New Year holidays are coming to an end. Carriers are bringing back most of the blanked sailings on the Asia-Europe and Transpacific routes this week, with the withdrawal of the ad hoc services by the smaller carriers having an immaterial impact on overall trade capacity. MSC is
Maersk has suspended the TP20 FE-USEC transpacific service that connects Jakarta, Cai Mep, Shanghai, Ningbo, Busan, Panama Canal, Mobile, New York, Suez Canal, Jakarta with the last sailing by the 4,252 teu NAGOYA TRADER that has departed from Jakarta on 13 February 2023. The service currently deploys 12 to 13 ships of 4,200-5,500 teu and provides the only direct connection between Jakarta to the US East Coast. The TP20 was first launched by Maersk in July 2021 and was amalgamated with the TP
Meratus has launched a new Papua New Guinea Express (PNG Express) service that connects Jakarta, Surabaya, Dili, Motukea, Lae, Jakarta from 7 February with the 1,005 teu MERATUS GORONTALO. The service will be operated on a fortnightly basis with a 28 day turnaround with a second vessel, the 1,129 teu MERATUS 1 to join the service on 22 February. The new service will also offer connections from China, Malaysia and Singapore to PNG via transhipment at Jakarta on Meratus' current international net
MSC is already preparing ahead for life after 2M with the reinstatement of the Dragon service connecting Asia to Mediterranean. The Dragon service was suspended in April 2020 when it was part of the 2M's AE-20/Dragon service. The renewed Dragon service will be operated independently by MSC and will start on 13 March 2023, calling at Shanghai, Ningbo, Yantian, Singapore, Ashdod, Naples, La Spezia, Genoa, Fos, Gioia Tauro, King Abdullah, Singapore, Shanghai. Port rotation of MSC's new Dragon s
Swire Shipping and Carpenter Shipping will introduce a new Pacific Weekly Express (PWX) service that connects Port Klang, Singapore, Motukea, Lae, Noumea, Suva, Lautoka/Honiara (alt), Rabaul/Madang/Lae (alt), Port Klang. The new weekly service will start on 24 February 2023 at Port Klang and will deploy 7 geared ships with 6 ships from Swire - RABAUL CHIEF (2,381 teu), TONGA CHIEF (2,118 teu), PORT VILA CHIEF (2,118 teu), VICTORIA (1,678 teu), HIGHLAND CHIEF (1,617 teu) and 1 more ship to be n
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