All News


Mothballed containership reactivated after 10 year lay up

Van Son Shipping, a newly established Vietnamese carrier based in Hanoi, has launched a domestic service connecting Haiphong and Ho Chi Minh City with the 1,730 teu NEW VISION on 30 July 2022. The NEW VISION has been laid up in Vietnam since delivery in June 2012 and the ship holds the record for having spent the longest period in lay up by any containership. The ship was built by Ha Long Shipbuilding, a subsidiary of SBIC (formerly known as Vinashin) and delivered on 30 November 2011 to Vina


Potential Felixstowe Strike

UK ports grew container volumes by 8.5% last year to 11.67m teu compared to 10.76m teu in 2020. The threat of a potential strike at Felixstowe later this month could disrupt operations at the UK’s largest port, which handled 3.6mil teu in 2021. London Gateway recorded a 15% growth to reach 1.80m teu and could soon overtake Southampton to become the second largest container port in the UK behind Felixstowe. 13 ships, 7 in Fe-N.EUR trade, have been scheduled to arrive or depart during 21th-29th A

Port Congestion

Congestions at Chinese Ports Eased Further

The rising tensions across the Taiwan Strait last week has not resulted in any increase in port congestion in the region. Ports in Taiwan and Fujian saw no increase in container vessels waiting to berth, with vessel operations remaining smooth throughout the past week. Vessel traffic across the Taiwan Strait were largely unaffected despite China’s military exercise last week, with no material containership diversions or port omissions detected. Overall congestion at Chinese ports have continued


ONE to take minority stake in Atlas

ONE has teamed up with the 3 largest shareholders of Atlas in a bid to take the owner of Seaspan private. Seaspan is the largest non-operating owner of containerships with a current fleet of 129 ships and an orderbook comprising of 67 ships. The  offer for Atlas was submitted on 4 August 2022 by Poseidon Acquisition Corp., acting on behalf of a consortium comprising of Fairfax Financial Holdings, the Washington family, Atlas Chairman David Sokol that already control over 68% of Atlas’ outstand


Market Pulse – 2022 Week 31

Register Free Trial [] Chinese military drills in the Taiwan Strait last week did not disrupt container traffic in the region with no vessel diversions reported and port congestion continuing to ease across all main Chinese ports. Freight rates continued to drop due to weaker demand in the US and Europe, despite strong Chinese export figures reported for July. Rolling 4 week average capacity are at their highest levels in 2022, as carrier


ESL starting JBS

Emirates Shipping Lines is starting a new Jebel Ali Bahrain Shuwaikh Service (JBS) calling at Jebel Ali, Bahrain, Shuwaikh, Jebel Ali. The service started with 1,678 teu ESL VICTORIA at Jebel Ali on 18 August 2022. Another vessel, 1,341 teu ESL ZANZIBAR, will be deployed to JBS as from 23 August 2022 at Jebel Ali to this service on weekly frequency.


China Is Still Gaining Share in Exports

China's market share of global port throughput increased marginally in the last four years despite of the US Tariff on the Chinese exports and the lock-downs at China's coastal manufacturing hubs. The port throughput numbers do not show obvious trend of China's losing market share in the exports as oppose to what some in the market have expected. China's market share of global port throughput increased from 33.2% in 2017 to 34.2 in 2021. Over the same period, South East Asia, which is widely ex


Maersk 2Q Receivables Jumped

Maersk's 22Q2 results beat capital market's estimate by a large margin. Actual EPS was $464 comparing to the highest estimate of $405 (source: Refinitiv I/B/E/S). Liner segment was still the key driver where Liner EBIT up 21% QoQ, which may be ahead of the industry average in 22Q2 on Maersk's higher-than-peers contract mix. Contract rates outperformed the spot market in the past few months. Such trend may continue for the rest of this year as spot rates could be under further pressure on a pot


Taiwan Calls Possibly Affected By Military Drill

Xinhua News Agency announced overnight that PLA will conduct military drills between 4 August and 7 August in areas surrounding Taiwan. We have found that 186 ports calls by 174 container ships/675k TEU capacity may be affected. Please see attached list for details of Trade/Operators/Services/Ships that are due to depart during the affected period. Download excel file []


TP Landscape Changed since 2019

The transpacific carriers landscape has changed significantly since 2019, with competition remaining very keen amongst the incumbent carriers even as newcomers carved out a 4% share of the market. MSC has been the most aggressive carrier, chalking up a 160% increase in liftings in the first 6 months of 2022 compared to the same period in 2019. However, MSC has struggled to maintain the growth momentum since the start of the year as it is heavily reliant on the weakening spot market. At the o

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