Containerships started Irish Sea Express (ISX) that connects Dunkirk, Dublin, Greenock, Rotterdam, Dunkirk with two ships. 803 teu Ranger joined the service on Sep 1 at Greenock while 907 teu Linda joined on Sep 7 at Greenock.
CMA CGM is resuming the MEDGULF service that connects the West Mediterranean to the US Gulf and Mexico. The original MEDGULF service was first launched in April 2015 but it was suspended in December 2015 and replaced by a MEDGULF Ecuador (MGE) loop. The revised MEDGULF service will resume on 29 September 2022 with the 2,826 teu CMA CGM NAVEGANTES that will call at Genoa, Valencia, Miami, Veracruz, Altamira, Houston, Tangier Med and Genoa. Genoa. The service will turn in 6 weeks on a 42 day ro
Evergreen Marine Corp. (EMC), the Taiwan listed arm of the Evergreen Group has reported a 10% MoM drop (8.5% in NTD) in operating revenue in August. The point of focus is the sequential change, which is larger than the CCFI's 6% MoM drop. It is unusual for carriers to report sequential revenue drops in August, during what should have been the middle of the usual peak shipment season. The last time EMC reported a larger sequential drop in any month in 3Q was in September 2011. EMC is expected to
The increase in Chinese port congestion last week drove global congestion levels from 12.2% to 13.0% of the containership fleet.
Asean Seas Line (ASL) will expand its service coverage outside of the intra-Far East routes for the first time with the launch of a new Australia China Express (ACX) service from 25 September 2022. The ACX will call at Qingdao, Shanghai, Shekou, Brisbane, Sydney, Melbourne, Qingdao starting with the 1,800 teu newbuilding ASL HONG KONG on 25 September followed by ASL BAUHINIA is scheduled to join the ACX on 15 October. The 2 ships are the first 2 units of a series of 6 new Bangkok-max ships of
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202235] Freight rates tumbled last week, with the SCFI falling by 9.7% for its worst weekly drop since 2016. FE-WCNA rates led the declines, dropping by 22.9% to $3,959/feu. Latest rates offered by transpacific carriers have already breached the $3,500 mark, guaranteeing further drops in the published rate indices in the coming weeks with all tradelanes out of Asia remaining under pressure. Typhoon Hinnamnor will impact vess
Pacifica Shipping, the New Zealand domestic shipping subsidiary of Swire Shipping, has introduced a second ship to its coastal schedules. The 1,368 teu TAKUTAI CHIEF (ex LIHIR CHIEF) has joined Pacifica on 9 September 2022 at Marsden Point. The ship is taken from Swire's fleet in the South Pacific and has been switched to the New Zealand flag. It joins the 1,732 teu MOANA CHIEF that has been operated on the New Zealand coastal trades since August 2019. The 2 ships will be deployed on a fixed-d
Akkon has launched Turkey Italy Casablanca (TIC) Service recently that connects east and west Mediterranean. The service will call Germlik, Gebze, Ambarli, Izmir, Salerno, Genoa, Casablanca, Germlik with two ship, 712 teu RS Mistral, previously operated by CMA CGM and 658 teu Depe previoulsy operated by A2B. Depe has already phased in at Gemlik on 22 Auguest while RS Mistral has phased in at Evyap on 31 August. (source: Akkon)
CMA CGM 22Q2 results out after Friday close without much surprises. The reports from the other liners have pretty much painted the picture of the liner industry financial performance during 22Q2, e.g. larger liners reporting sequential earnings growth while smaller liners reporting sequential earnings drop probably a result of contract mix. CMA CGM reported sequential growth in revenue yield (revenue generate by each capacity slot in a quarter), similar to that of Maersk and Hapag Lloyd. Hence
The best yard stick, in our view, measuring management performance is the financial return generate over time. And the most direct financial return for shareholders is the dividend pay-out relative to a company's market value. Liners have been swimming in cash on extraordinary earnings since 2021. Reasonably, they also distributed dividend generously. Between 2021 and July 2022 end, a total of $38bn* of dividend paid while another $14bn have been committed to be paid in 2022 by the 16 shipping