Total 193 Posts
WHL and YMM also reported their August revenue last week, after EMC. WHL's August revenue fell 20% YoY, 12% MoM and 40% from its peak in Jan 2022. YMM's August revenue also fell both YoY and MoM. If the same MoM pace continues for Sep, the three Taiwanese liners will likely report 9% M0M lower top line and hence 7% QoQ lower top line for for 3Q 2022. Liner industry reported about 58% EBIT margin and 50% net profit margin during 2Q 2022. So on the ballpark, every 1% drop in top line would mean
AD Ports Group has completed its first international acquisition on 14 September 2022 with the purchase of a 70% stake in the Egyptain company International Associated Cargo Carrier (IACC) which fully owns Transmar International Shipping Company and Transcargo International (TCI). Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa while TCI is a terminal operator and stevedoring company, mainly operating out
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
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
COSCO 22Q2 results were out overnight. Earnings have already been given in the alert last month. So the new news is dividend,HK2 or 50% payout ratio, which is ahead of the analysts estimates. Yet the stock ended down in the Hong Kong trading session. The results are all good. Top line dropped just 4% QoQ as 2% higher volume mitigate some fall in freight rates while slot costs dropped by a whopping 23%. Slot costs are the OPEX incurred in a quarter divided by operating capacity, which help make
HICO Investment Group, a privately owned trust fund owned by the Hartnoll family, revealed on 25 August 2022 that it has acquired the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners. At the same time, HICO also revealed that it has acquired a controlling stake in Caribbean Feeder Services (CFS) from Pérez y Cía who remains a minority shareholder and partner in the CFS business. The Hartnoll family also owns X-Press Feeders (Sea Consortium), as well as various shipowning entities t
OOIL reported its interim results during lunch last Friday (19th Aug). The results were great in most counters, e.g. 31% QoQ, 101% YoY and then 70% dividend pay-out ratio. But the top line report a month ago has already suggested OOIL earnings may be up $1.2-1.3bn HoH, which is more of less what OOIL report for the bottom line last Friday. The dividend pay-out ratio now becomes a guestimate for its shareholders as OOIL has paid out between 100% and 50% last two rounds. Having a net cash positi
Safeen Feeders have teamed up with CMA CGM to launch the Singapore Chennai Colombo (SCC) service starting from 5 September 2022 from Singapore. Safeen will introduce the 2,034 teu SAFEEN PIONEER on this service, joining CMA CGM's 1,732 teu SONGA TIGER. For Safeen, the SCC will be its first service operated outside of its home p0rt of Khalifa in Abu Dhabi. Safeen Feeders was launched in June 2020 by Abu Dhabi Ports to boost feeder connectivity between Khalifa and the Arabian Gulf/Indian Subcont
Carrier53, a new carrier established in 2022 in Hamburg, Germany by container leasing company Lotus Containers in partnership with German shipowner Schulte & Bruns has launched a new dedicated service in August 2022 to provide transportation services between China and the US West Coast for 53 feet US domestic containers. The service was launched with an initial fleet of 6 cargo ships that can carry between 241 and 309 units of 53-feet containers. 2 of the ships were recently acquired by Schulte