Companies/Financials

Total 193 Posts

Companies

ONE FY22 earning guidance up

The three main Japanese shipping companies i.e. K-Line, MOL and NYK, parent companies of  Ocean Network Express ("ONE") revised up their FY2022 (Apr 2022-Mar 2023) earning guidance after market last Thursday (21 Jul), just 3 months after announcing such guidance in Apr 2022. The main change is to increase its FY2022 Ordinary Profit by JPY695bn or  38% comparing to its previous guidance. As a result, new profit guidance for FY2022 will be flat YoY. Previous guidance was 29% YoY lower.  However,

Companies

June Revenue Strong

Taiwanese carriers' monthly revenue up 6% MoM in June and, on quarterly basis, 22Q2 was flat comparing to 22Q1, a trend consistent with the top line reported by OOIL earlier.

Companies

Another strong results for OOIL

OOIL's 22H1 revenue was $1.25bn bn higher than that in 21H2. Given the $1.25bn increase came mostly from HoH higher freight rates, most of such increase could show up in the net profit.

Companies

AD Ports acquire IACC/Transmar

AD Ports Group (ADP) announced on 1 July 2022 that it has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier (IACC) for $140m. IACC owns Transmar, a regional container shipping company that operates a container service between Adabiya and Jeddah on its core route with operations across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. In 2021, Transmar handled 109,000 teu. It owns the 2008 built 2,127 teu TRANSMAR LEGACY that was acqui

Swire

Swire completes Westwood acquisition

Swire Shipping has completed the acquisition of US-based Westwood Shipping Lines on 29 June 2022 after securing regulatory approvals and other closing conditions. The deal agreement was first announced on 28 April 2022 for Swire's affiliate SSPL US Inc to acquire Westwood from from J-WeSco, a subsidiary of The Sumitomo Warehouse Co. for $100m plus an additional payment of up to $45m subject to the finalisation of Westwood's financial results for fiscal year 2022. Swire will also acquire 4 mult

Companies

Taiwanese carriers maintain top line revenue in May

Taiwanese liners' May top line came out flat MoM, again reassuring that impacts during the Shanghai lockdown were minimal for the liners.

Companies

De Well plans Hong Kong IPO

De Well, the 10th largest NVOCC on the Transpacific trade has filed for an IPO in Hong Kong on 30 April. The listing timetable and proceeds to be raised were not disclosed, with Citi and CICC acting as joint sponsors. The IPO filing comes 8 months after the company sold a 29.5% stake to Cainiao...

Companies

Liner April Revenue Still Strong

Taiwanese liners' April top line came out as a positive surprise. The spot freight rates, as per SCFI, have fallen 7.5% MoM while Shanghai/Ningbo's combined port throughput was down 10% MoM in April. However, the Taiwanese liners' combined revenue ...

Companies

Maersk 22Q1 II

Maersk contract rates are up $1400/FFE YoY, which, in our estimates, contribute $10bn YoY additional revenue/profit. Fuel costs inflation amount to $1.5-3.5bn. Acceleration in average freight rate increase may be unique to Maersk and help close its gap relative to peers on EBIT margin.

Companies

OOIL 22Q1: $1.1bn provisions booked in 21H2

The exceptional unit costs rise reported by OOIL for 21H2 shocked many analysts. What may have gone unnoticed are the oversized provisions booked not only for its commitment to Long Beach Terminal but also other OPEX and employee compensations

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