COSCO

Services

Golden Sea resumed Yangon Express

Golden Sea, subsidiary of COSCO, has resumed Yangon Express (YGX) calling Singapore, Xiaochan Beach, Yangon, Singapore. The The service has started with Xiaochan Beach call on June 19 by the 1223 teu AS FENJA.

Services

CMA CGM and COSCO/OOCL to launch new FE-WCSA service (ACSA 5/ WSA 5/TLP6)

CMA CGM, COSCO and OOCL will launch a new Far East-West Coast South America service from the end of June 2022 calling at Hong Kong, Shekou, Ningbo, Shanghai, Manzanillo, Puerto Quetzal, San Antonio, Hong Kong. The service will turn in 10 weeks, using 5 ships of 3,300 teu to 5,090 teu on a fortnightly frequency with 3 ships from CMA CGM and 2 ships from COSCO. The first sailing is scheduled on 28 June 2022 with the 3,314 teu COLOMBO from COSCO. The service is branded as the Asia Central South A

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

Companies

COSCO 22Q1: account payables exceeded quarterly OPEX

Cosco’s relatively depressed earnings for 21Q4 and 22Q1 are due to the substantial provisions booked over the past two quarters. By end of 22Q1, Cosco’s short term payables account has ballooned to Rmb69bn, which is a significant amount for Cosco’s 22Q1 operating expense was only Rmb67bn.

Services

CMA CGM, COSCO and OOCL to launch 4th Northeast Asia-Australia loop

ANL/CMA CGM, COSCO and OOCL will launch a new A3 Express (A3X) service connecting Shanghai, Shekou, Brisbane and Sydney from 12 July 2022 (Launch date originally scheduled for 31 May 2022 but have been postponed). The new service will complement ANL/CMA CGM, COSCO and OOCL's existing services linking North East Asia with Australia’s east coast that is currently provided through the A3N, A3C and A3S services: A3N Rotation: Yokohama, Osaka, Busan, Qingdao, Shanghai, Kaohsiung, Melbourne, Sydney

Companies

COSCO earnings hit by questionable provisions

Cosco's profit margin dropped in P&L but rise in the cashflow during 21Q4. Much of the expenses were booked into payables, leading to extraordinary fall in working capital relative to its peers.

Services

CMA CGM and COSCO expands cooperation to the Brazil/Caribbean to US Gulf trade

CMA CGM and COSCO will revise its joint service on the trade between Brazil, the Caribbeans and the US Gulf Coast with the new Brazil Express (BZX) service that will deploy 9 ships of 3,000 teu to 3,600 teu on a 63 day round trip. CMA CGM will deploy 8 of the 9 ships in this new service that is scheduled to start from 22 February from Navegantes with the 3,091 teu CMA CGM PARANAGUA. The revised service will call at Navegantes, Paranagua, Santos, Rio de Janeiro/Salvador (alternative calls), Cart

Services

COSCO, Evergreen & X-Press Feeders to enhance Mexico Central America (MCX) service

COSCO, Evergreen and X-Press Feeders will enhance their jointly operated Mexico Central America X-Press (MCX)/Latin America Express (LAE) service rotation effective mid-January 2022. 3 additional ports (Lazaro Cardenas, Puerto Quetzal, Corinto) are added, with the new rotation calling at Lazaro Cardenas, Manzanillo, Puerto Quetzal, Ajacutla, Corinto, San Lorenzo, Puerto Quetzal, Lazaro Cardenas. The service will continue to deploy 3 ships of 1,500-1,800 teu, with each carrier contribution one

Services

COSCO/OOCL push ahead with largest independent TP service

The new China-USWC service branded as SEAX by COSCO and Pacific China South Express (PCSX) by OOCL will be the largest independent transpacific service operated outside of the 3 Alliances' network. The service calls at Shanghai, Fuzhou, Xiamen, Yantian, Long Beach, Shanghai using 6 ships of 10,000 to 14,600 teu. The first sailing was made on 20 November. At Long Beach, the service will call at LBCT where it will not face the long queues that other carriers are facing at San Pedro Bay ports. CO

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