Total 38 Posts
OOIL is likely to report net profit over $5bn for 2H21 and $8.3bn for FY21, in our estimates, beating the average consensus estimates. OOIL reported $2.8bn as net profit for 1H21. In 2H21, revenue increased $2.7bn HoH, driven primarily by the increase in average freight rates...
China United Lines (CUL) have launched a bid for an initial public offering (IPO) on the Hong Kong stock exchange. It filed an initial application on 31 January 2022, with proceeds from the IPO to be used to fund new ships and further overseas expansion. CUL was established in 2005 and is currently based in Shanghai. The company is controlled by Raymond Chen Hong Hui (through interests held by his spouse) and is currently 80% owned by Chen and 20% by Guangzhou Port. It reported total revenues
The Korean Fair Trade Commission has imposed a fine of KRW 96.23B on 23 carriers operating on the South Korea-Southeast Asia route. The decision and corrective order were announced on 18 January 2022 and pertains to price fixing allegations against the carriers on the SE Asia route between 2003 and 2018 through the IADA (Intra-Asia Discussion Agreement) and the Korea-Southeast Asian Shipping Association (Dongjeonghyeop). The FTC investigation found 120 cases of price setting conducted through a
"The strong result in the quarter reflects the continuation of the exceptional market situation within Ocean caused by the global disruptions to the supply chains, which have led to further increase in container freight rates." Maersk new release, 14 January 2022
The Samra Midas (SM) group has built a small stake in HMM, after its wholly owned subsidiary SM Line added 613,438 shares in HMM for $14m on 29 December 2021, bringing its holdings to 2.41m shares or 0.49%. Another SM Group company, bulk carrier operator Korea Shipping holds 2.15m HMM shares, or 0.44%, bring the SM Group's total shareholdings in HMM to 0.93%. The move comes after SM Line ditched plans to raise up to KRW 846 Bn ($722m) from an initial public offering (IPO) on 3 November 2021. SM
MSC has acquired a 67% stake in Log-In Logistica on 21 Jan 2022
Maersk has reached an agreement on 22 December 2021 to acquire LF Logistics from current owners Li & Fung (78.3%) and Temasek Holdings (21.7%) for a total enterprise value of $3.6 Bn, with an additional earn-out of up to $160M from future earnings. The transaction will involve LF Logistics' In-Country Logistics (ICL) business which has a projected revenue of $1Bn with an adjusted EBITDA of $250M in 2021, implying a 14.4x EBITDA multiple on the purchase price. The ICL business operates a network
Bollore announced on 20 December 2021 that MSC has made an offer to acquire Bollore Africa Logistics for €5.7 Bn (US$6.4 Bn). MSC has until 31 March 2022 to put in a final bid. Bollore Africa Logistics is the biggest transport and logistics operator in Africa with 250 subsidiaries and some 21,000 employees in 49 countries, including 47 in Africa. It is present in 42 ports and operates 16 container terminal concessions and 7 ro-ro terminals, with over 90% of its revenue coming from its port op
Emirates Shipping (ESL), China United Lines (CUL) and Global Feeder Shipping (GFS) will jointly launch a new Vietnam Gulf India/Vietnam-Gulf Express (VGI/VGX) service in January 2022. The service will turn in 5 weeks and call at Ho Chi Minh City, Laem Chabang, Port Klang, Sohar, Jebel Ali, Nhava Sheva, Port Klang, Ho Chi Minh City. 4 ships will be used initially with one blank sailing in each 5 week cycle. The first sailing is scheduled at Ho Chi Minh City on 18 January with the 2,741 teu GFS
Samudera has started a new Singapore-Nhava Sheva service using 2 ships of 1,800 teu, the SINAR SUNDA and SINAR SORONG. The service is branded as the Nhava Sheva Singapore Express (NSX) with COSCO and ONE already signed up to take slots on the service, with COSCO retaining the NSX name while ONE calls the service Singapore India Express (SIX). The first sailing started on 13 December 2021 from Singapore.