Evergreen

Evergreen

Evergreen adds Philippines link on NSA service

Evergreen will extend its North East Asia-South East Asia Service A (NSA) to call at Philippines ports from the end of November 2022. The service currently calls at Osaka, Kobe, Moji, Hakata, Ulsan, Taipei, Taichung, Kaohsiung, Nansha, Hong Kong, Shekou, Osaka using 2 ships - the 1,809 teu GREEN CELEBRITY and the 1,984 teu EVER CONCISE. From 30 November 2022, the revised NSA rotation will call at Osaka, Kobe, Moji, Hakata, Ulsan, Taipei, Taichung, Kaohsiung, Shantou, Hong Kong, Shekou, Kaohsiu

Companies

TWN Liners October top line fell but fell less than CCFI

EMC, YMM and WHL reported October top line. In aggregate, which provide better read through for the industry, revenue in USD fell 15% MoM and 33% YoY, probably would be taken as positive surprises since the fall is less than CCFI. As additional context for this set of October figures, the Taiwanese liners' revenue fell more more than CCFI during September.

Evergreen

Italia Maritima and Arkas launches GPM

Italia Maritima and Arkas are launching another revised East Med-Black Sea service called Greece Poti Marmara service(GPM) that will call Piraeus, Ambarli, Poti, Constantza, Piraeus. 1,445 teu CORELLI and 1,618 teu UNI-PHOENIX, both until recently have been active in the East Med routes, will be deployed to this service. CORELLI will phase in on Nov 5 at Piraeus and UNI-PHOENIX will be phased in on Nov 14 also at Piraeus.

Evergreen

Italia Maritima and Arkas Launching New East Med-Black Sea Service

Italia Maritima and Arkas are launching a revised East Med-Black Sea service called Greece Turkey West Black Sea Service (GTW) / Aegean-Bulgaria Express (ABX) that will call Piraeus, Thessaloniki, Piraeus, Haydarpasa, Constantza, Varna, Ambarli, Gebze, Piraeus. 1,445 teu ROZA A and 1,164 teu UNI-ASSURE, both until recently have been active in the East Med routes, will be deployed to this service. ROZA A will phase in on Nov 5 at Piraeus and UNI-ASSURE will be phased in on Nov 13 also at Piraeus.

Evergreen

EMC: Lower Freight Rates Higher Bunker Price for 3Q

Evergreen Marine Corp (EMC), the listed subsidiary of Evergreen Group, provided an update presentation in Taiwan after market last Friday (14th Oct). The presentation materials provided additional color on the Evergreen's operation and relevant read through to the whole liner industry. First, decline in freight rates was the main reason for the 16% MoM drop in the Evergreen's revenue in September. During Sep, Evergreen's volume was down 5% MoM while the freight rates dropped 12% MoM. in the de

Companies

Liner revenue rolled over in Sep

OOIL and the Taiwanese liners' revenue reports came out after the market close on Friday (7 Oct). All four liners reported sequentially lower revenue in 3Q. Liners will start to report their 3Q earnings in the coming weeks. These revenue reports suggest 3Q earnings may have come off from this cycle peak in 2Q. Consensus in the capital market is expecting 3Q liner* earnings to be between 4% up and 18% down QoQ. OOIL's 3Q revenue dropped only 5% QoQ while Wanhai's 3Q revenue dropped 18% QoQ. Sequ

Companies

EMC August Revenue down 10% MoM

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

Companies

Ranking Liners By Dividend: Yang Ming and OOIL top

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

Companies

TWN Liners Top Line Peaked

Taiwanese liners' industry first top line reports came out over the last three days. In July, Evergreen delivered another record revenue while both Yang Ming and Wan Hai saw their top line came of 5% and 6% MoM respectively. In aggregate, the Taiwanese liners' top line in NTD was down 1% MoM. Since USD has strengthened further in July, these liners' top line in USD maybe down 2% MoM. Given July volume usually is higher than same in June. Average freight rates may be down sequentially during J

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.

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