Arkas and Evergreen are launching a new North Africa Express (NAX) that will call Piraeus, Algiers, Valencia, Casablanca, Piraeus on 21-day round trip. 1,164 teu UNI-ASSURE and 1,445 teu CORELLI will phase in at Piraeus on 14 May and 19 May respectively. This new service looks like an upgrade of the present Greece-Algeria service (GAS) operated by Arkas with 1,136 teu KRETAS that calls Piraeus, Algiers, Piraeus. KRETAS will be re-deployed to Arkas's Spain-Portugal-Tangier (SPT) at Piraeus on 1
Taiwanese liners’ March revenue (in USD) rebounded 14% MoM versus CCFI’s continue decline. YoY comparison is still negative by 66%. The sequentially rebound is likely volume driven, a normal seasonal pattern from Feb to Mar.
Yang Ming reported this morning (10th Mar) FY2022 earnings plus large dividend pay-out. But what may have gone unnoticed today is that Evergreen also reported Feb 2023 top line overnight (9 Mar), being the earliest of any container liner financial reports. Evergreen's Feb revenue in USD terms fell 68% YoY and 28% MoM. Combining January and February, the two-month aggregate revenue fell 63% YoY. As the liners did not make over 60% operating profit margin in 1Q 2022, over 60% fall in revenue means
COSCO will withdraw its CENX "Prince Port Express Line" transpacific service that connects Qingdao, Shanghai, Prince Rupert, Qingdao. The last sailing was made by the 4,250 teu XIN YING KOU that departed from Qingdao on 12 November 2022. The CENX was first launched on 26 October 2021 by COSCO using 5 ships of 4,200-5,000 teu. In April 2022, OCEAN Alliance partners OOCL and CMA CGM began to participate on the service, branding it as the Pacific China North 2 (PCN2) and Great Lakes Express (GLX)
Evergreen is launching a new Intra-SEA service called Vietnam-Malaysia-Indonesia Service(VMI), which will rotate through Haiphong, Ho Chi Minh City, Port Klang Westport, Tanjung Pelepas, Jakarta, Semarang, Surabaya, Singapore, Tanjung Pelepas, Haiphong on 21-days round trip. 1,844 teu EVER CHASTE, 1,809 teu EVER CHARM and 1,984 teu GREEN CELESTE will phase in respectively on Jan 10, Jan 17 and Jan 24 at Haiphong. 1,844 teu EVER CHASTE and 1,809 teu EVER CHARM have until recently been deploye
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
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.
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.
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 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