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Companies

CUL pays $67m penalty for early termination of Antong cooperation agreement

China United Lines (CUL) has reached a settlement with Antong Holdings for the early termination of its Long Term Cooperation Agreement on 8 December 2022, subject to the approval of Antong shareholders. CUL had given notice to Antong on 28 November 2022 for the termination of the agreement that involves the charter of 12 panamax ships of 4,132 teu to 4,713 teu from Antong for $52,000 per day and the lease of Antong containers for operations on the Asia-Europe and Transpacific routes under a p

Companies

Liner Top Liner Drop Accelerated in November

The aggregate November monthly revenue for the 3 Taiwanese liners amounted to $2,2bn, down 18% MoM and 44% YoY. The 18% sequential drop was faster than the CCFI's 14% sequential drop in November.

Services

Evergreen launching VMI

Evergreen is launching a new Intra-SEA service called Vietnam-Malaysia-Indonesia Service(VMI), which will rotate through Haiphong, Ho Chi Minh City, Port Klang Westport, Tanjung Pelepas, Jakarta, Semarang, Surabaya, Singapore, Tanjung Pelepas, Haiphong on 21-days round trip. 1,844 teu EVER CHASTE, 1,809 teu EVER CHARM and 1,984 teu GREEN CELESTE will phase in respectively on Jan 10, Jan 17 and Jan 24 at Haiphong. 1,844 teu EVER CHASTE and 1,809 teu EVER CHARM have until recently been deploye

Services

ZIM/GSL launch TFX

ZIM and its subsidiary GSL are to  introduce the new Thailand Fremantle Express (TFX) that will connect Ho Chi Minh City, Laem Chabang, Port Klang, Sydney, Melbourne, Fremantle, Port Klang, Ho Chi Minh City. The TFX will turn in 6 weeks on a 42-days round trip, starting with the 2,450 teu GSL AFRICA and 1,717 teu OPHELIA that will phase in at Ho Chi Minh City on Dec 26 2022 and Jan 2 2023 respectively. GSL AFRICA  is currently deployed in China 2 Australia Express (C2A) while OPHELIA is being

Services

ESL/IAL/TSL introduce China Malaysia (CMS/CMX)

Emirates Shipping Line (ESL), Interasia Lines (IAL) and TS Lines (TSL) will launch a new China Malaysia Service/China Malaysia Express (CMS/CMX) connecting Qingdao, Shanghai, Xiamen, Hong Kong, Shekou, Port Klang (NP/WP), Penang, Port Klang (WP), Nansha, Hong Kong, Qingdao from 20 December 2022. The service will turn in 4 weeks using 4 ships of 1,700-2,600 teu.

MSC

MSC introduces India-West Med service

MSC will launch a new India-West Med service connecting Abu Dhabi, Jebel Ali, Mundra, Nhava Sheva, Djibouti, Gioia Tauro, Genoa, Barcelona, Valencia, Salerno, Gioia Tauro, Marsaxlokk, King Abdullah, Jeddah, Abu Dhabi. The first sailings will depart from Abu Dhabi on 19 December 2022 with the 4,992 teu MSC SHANGHAI.

Service cancellations

CU Lines/TS Lines to withdraw Asia-Europe service

CU Lines and TS Lines will end their jointly Asia-Europe Express (AEX) service with the last sailing scheduled to depart from Ningbo on 10 December 2022. The 7 ships currently deployed on the service will be redeployed, comprising of 6 ships of 4,100-4,400 teu from CU Lines and 1 4,380 teu ship from TS Lines. 2 of the CU Lines ships have been idle at China since the end of November. The AEX calls at Ningbo, Shanghai, Xiamen, Shekou, Southampton, Rotterdam, Hamburg, Antwerp, Ningbo on a fortnigh

Allseas

Allseas Global Project Logistics insolvent

An admistrator for Allseas Global Project Logistics has been appointed on 27 October 2022 in the UK courts. The company is part of the Allseas Group that includes Allseas Global Logistics and DKT Allseas that had announced the launch of the Allseas Shipping Company on 13 June 2022 that followed one full year of operations for its China Xpress service that connected Ningbo and Dongguan with Teesport and Rotterdam. The company claimed that Allseas was the first British registered shipping line in

Port Congestion

Port Congestion Consistently Trending Down Since 4Q

Global port congestion is trending down with the delays at US and European ports easing gradually on slowing cargo demand and improved terminal operations. With the threat of the US rail strike now averted, further improve-ments are expected even with the ILWU dockworker contract negotiations on the US West Coast still unresolved. Congestion in North Asia has however edged up with a heavy build up of ships in the Bohai region, with longer waiting times at Qingdao and Busan. The South Korean tru

MarketPulse

Market Pulse – 2022 Week48

Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202248] Carriers failed to push through with the 1 December rate increases, with freight rates continuing to drop across the board on softening demand and weakening vessel utilisation. The sharpest rate declines were recorded on the East Coast South America, US East coast and Middle East routes last week, with attempts to raise rates in December also expected to fail. Carriers will attempt to push for a new round of rate inc

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