CMA CGM'S intra-Asia arm CNC has upgraded the Korea China Southeast Asia (KCS) service to the 6,000-7,000 teu scale, making it the largest dedicated intra-Asia service alongside Maersk/Sealand Asia's IA-8 service that deploys ships in the 6,000 teu size. These 2 intra-Asia services are the largest services in the North Asia-Southeast Asia corridor that commonly employs ships in the 1,700-4,200 teu scale. The KCS calls at Xingang, Dalian, Lianyungang, Qingdao, Singapore, Jakarta, Surabaya, Man
MSC has extended its lead at the top of the carrier rankings, with its current fleet reaching 5.36m teu, up from 4.61m teu at the beginning of January. Newbuilding deliveries contributed 557,000 teu to the increase, with the rest coming from second hand vessel acquisitions and new charters. MSC has grown at an average rate of 83,000 teu a month, with its lead over 2nd place Maersk rising to 1.24m teu. Maersk has seen its operated fleet shrink from 4.21m teu at the beginning of the year to 4.12
CNC (CMA CGM) will add a new call at Dalian on its Korea China Southeast Asia (KCS) service from 30 September 2023, with the revised rotation calling at Xingang, Dalian, Lianyungang, Qingdao, Singapore, Jakarta, Surabaya, Manila, Xingang. The service turns in 35 days using 5 ships of 4,000-6,000 teu with KMTC, ONE and SITC taking slots.
CMA CGM will add a new Lekki Feeder service that connects Lekki and Cotonou with the 1,736 teu EM HYDRA that will be phased in at Lekki on 15 October 2023.
CMA CGM has withdrawn its new Turkey Libya Express (TLX) service after just 6 sailings from Asia to the Red Sea, Turkey and Libya. The service start on 2 July 2023 with the 2,468 teu BUXLINK and called at Shanghai, Ningbo, Nansha, Singapore, Jeddah, Iskenderun, Malta, Misurata with several ad hoc calls at Lianyungang and Tripoli. Only 6 headhaul sailings were conducted by the 3,534 teu HOPE ISLAND, 4,506 teu CMA CGM OSAKA, 4,294 teu CMA CGM MONTOIR, 4,253 teu CMA CGM PERTH and 4,404 teu CMA CG
CNC (CMA CGM), COSCO and Samudera have teamed up to operate a new Singapore-Haiphong feeder service offering twice weekly departures using 3 ships on an 10-11 day rotation. The service is branded respectively as the Haiphong Singapore Feeder 1 (HSF1CNC) by CNC, Singapore-North Vietnam Express (NVX) by COSCO and North Vietnam Service (NVS) by Samudera. The joint service incorporates the 3 carriers' existing North Vietnam services, with the existing NVX/NVS operated by COSCO and Samudera revamped
Charter rates for ships below 5,000 teu have tumbled with an increasing pool of redelivered ships and relets while charter periods have also shortened with carriers unwilling to commit to longer periods in a slowing market. Rates for ships above 5,000 teu have remained relatively resilient but this is only due to the limited number of candidates available in the market. Zim continues to shed its surplus tonnage, with the 4,252 teu VOLANS redelivered 10 months early and retaken by Hapag-Lloyd at
CMA CGM will add a new call at Gdansk on the Asia-Europe FAL 1 service that is operated as part of the OCEAN Alliance NEU1 service from the westbound rotation starting from 10 August 2023. The service is branded respectively as AEU2 by COSCO, LL4 by OOCL and FAL1 by Evergreen. The extended FAL 1 rotation will call at Busan, Ningbo, Shanghai, Yantian, Singapore, Algeciras/Tanger Med (alternate calls), Dunkirk, Le Havre, Hamburg, Gdansk (new from 5 Oct 2023), Rotterdam, Algeciras, Port Klang, Bus
CMA CGM recorded a 34% QoQ and 83% YoY decline in net profits to $1.3 Bn in the second quarter of 2023 on weaker freight rates despite improved liftings that saw sequential volume increases that confirmed the trend shown in our high frequency data on weekly capacity and utilization. But CMA CGM recorded a larger QoQ sequential drop in its average revenue per teu compared to the CCFI due to contract mix and Trans-Atlantic exposure relative to CCFI. Trans-Atlantic head haul freight rates have fall
CMA CGM will launch a new Turkey-Algeria TURAF Express service connecting Aliaga, Gemlik, Izmit, Ambarli, Malta, Alger, Aliaga from 17 July 2023 using 3 ships of 800-1,000 teu. The first voyage will be made by the 868 teu ATLANTIC GREEN with 2 additional ships that are yet to be named.