Samsung H.I. snags largest single containership order worth

Evergreen's order for 16 new methanol powered containerships of 16,000 teu at Samsung H.I. marks the single largest containership order contract ever made. The order was finalised on 14 July 2023 and is worth $3.1 Bn (KRW 3.96 Tn) in total, with each unit priced at $193.9m. The ships are scheduled for delivery in 2026 and 2027. A separate order for 8 similar units has been placed at Nihon Shipyard according to Evergreen's announcement made on 11 July 2023.


Taiwanese Liner’s Revenue Stayed Flat MoM in June

EMC, the listed shipping arm of the Evergreen Group, reported June revenue on 7 July where its revenue (in USD) dropped 4% MoM. In contrast, Yang Ming’s June revenue rebounded from its May low while Wan Hai’s June revenue was flat MoM. Overall, the 3 main Taiwanese carriers’ 2Q revenue fell 3% QoQ and 66% YoY. EMC was only able to avoid a decline in revenue due to the consolidation of the Evergreen Group’s non listed entities held outside of EMC (see Week 26 Market Pulse).


Evergreen, PIL, CUL and RCL jointly launch China India service

Evergreen has teamed up with PIL, CUL and RCL to launch a new China-India service that will call Shanghai, Ningbo, Shekou, Singapore, Port Klang Westport, Nhava Sheva, Mundra, Karachi, Port Klang Westport, Singapore, Haiphong, Shanghai using 6 ships of 2,700-5,400 teu on a 42-days round trip. The service will be branded as the China-India Express 4 (CIX4) by Evergreen, China-Subcontinent Express (CSE) by PIL, China India III (CIS) by CUL and RCL China West Asia (RWA) by RCL. The service will


Evergreen Consolidating Container Shipping Businesses into ListCo

Evergreen Marine Corp. (‘EMC’), the Taiwan listed arm of the Evergreen Group, has announced the acquisition of the privately owned Evergreen Marine (Singapore) (’EMS’) for $780m on 19 June 2023, in a landmark deal that will pave the way for the eventual consolidation of the Evergreen Group’s container shipping assets into EMC. The acquisition is part of the Chang family’s moves to dissolve the Evergreen Group as the 4 sons of the late YF Chang battle for control of the group’s assets. The publi


Taiwanese Liners' Revenue Rose 2% MoM in May

The three Taiwanese liners' revenue (in USD) in May rose 2% MoM but fell 65% to $1,388mn in aggregate, which is comparable to the levels in August and September in 2020.  The three Taiwanese liners in aggregate delivered $581mn operating profit in 3Q 2020 on $384mn fuel expenses and $321/ton average fuel price. The latest fuel expenses in 1Q 2023 was about $700mn on $631/ton average fuel price.


Evergreen launches KTH

Evergreen will launch a new Korea Taiwan Haiphong (KTH) service calling at Hakata, Ulsan, Busan, Kwangyang, Qingdao, Taipei, Kaohsiung, Haiphong, Kaohsiung, Taipei, Hakata on 21-day round trip with three 1,700 teu-1,900 teu ships from 4 June 2023. The KTH service will deploy the 1,984 teu EVER CLEVER, 1,844 teu EVER CHASTE and 1,708 teu QUEZON BRIDGE that will phase in at Hakata on 4 June, 14 June and 28 June respectively. QUEZON BRIDGE will be replaced by the 1,809 teu EVER CHARM on 11 July a


TWN Liner Revenue Resumed Sequential Fall

Taiwanese liners' April revenue fell 5% MoM after a 1-month rebound in March. The decline in these liners' revenue start to mirror that magnitude of the fall in CCFI.


Arkas and Evergreen launch North Africa feeder service

Arkas and Evergreen have teamed up to launch a new North Africa Express/North Africa (NAX/NAFR) service that connects Piraeus, Algiers, Valencia, Casablanca. The service will operate on a 20 days rotation using 2 ships with sailings every 10 days starting with the 1,164 teu UNI-ASSURE from Evergreen at Piraeus on 16 May 2023 and the 1,445 teu ROZA A from Arkas on 30 May.


Arkas and Evergreen launching NAX

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


Liners monthly revenue rebounded sequentially in March

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.

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