Charter rates continue to diverge, remaining firm for the larger ships in the Panamax and larger segments while softening in the smaller sizes of below 3,000 teu. Demand in the larger sizes have been surprisingly resilient despite the ongoing weakness in the freight markets. All prompt vessels of 5,000 teu and above have been snatched up, with the tight supply to persist until the end of the year. But the supply-demand balance for smaller ships have started to weaken, with a significant number
Container liftings for main carriers fell 6.8% YoY in 1Q 2023, accelerating from the 6.6% YoY fall in 4Q. All 9 of the main carriers recorded volume reductions, with Zim and Maersk recording the largest drops. The aggregate liftings of the 9 carriers in 1Q 2023 were even lower than the 2Q 2020 level during the first COVID wave. Despite the of the continuous improvement of the vessel turnaround time on the easing of port congestion, liner’s volume yield (liftings per slot) has continued to fall
Hapag Lloyd reported before European market open today (11 May) where net profit dropped 38% QoQ and 57% YoY. The drop should be expected but fared better than the liner peers that have reported so far. Hapag Lloyd's average freight rates fell only 28% YoY versus CCFI's 68% YoY, benefited by Hapag Lloyd's higher mix in Transatlantic trade, which is not a composite in the CCFI. Hapag Lloyd EBIT at 31% in 1Q23, is better than all the other peers reported so far.
Hapag-Lloyd will join Wan Hai as a vessel operator on the new FE-US East Coast 'AA7' service that will replace the existing service that was operated solely by Wan Hai starting from 26 April 2023. The new AA7 service will deploy 12 ships of 4,500 to 13,500 teu, with 4 ships from Hapag-Lloyd and 8 ships from Wan Hai. The smaller ships of 4,500 to 6,500 teu that Wan Hai currently operates will be gradually replaced over 2023 with larger ships of 7,500 to 13,500 teu including the new Wan Hai A-cl
Hapag-Lloyd will launch a new West Coast South America Feeder 4/WCSA Feeder 4 (WS4) service that connects Peru and Chile. The WS4 service will start from 5 June 2023 and call at Callao, Iquique, Puerto Angamos, Arica, Callao with the 1,930 teu newbuilding CAPE BRUNO. The service will turn in 2 weeks, with a second ship to join the service later in June.
Hapag-Lloyd and Feedertech (Unifeeder) have teamed up to introduce a new Vietnam Indonesia Service (VIS) connecting Singapore, Ho Chi Minh City, Singapore, Port Klang, Belawan, Penang, Port Klang, Singapore. The service will start from 6 April 2023 and turns in 2 weeks with the 1,781 teu CAT LAI EXPRESS from Hapag-Lloyd and 1,577 teu CELSIUS NEW ORLEANS from Feedertech. Vietnam Indonesia Service (VIS)
The North Europe-West Africa service jointly operated by Hapag-Lloyd/Arkas will be expanded to add a new southbound call at Dakar. The service is branded as the West Africa Express (WAX)/Europe Africa Service (EAS) respectively by Hapag-Lloyd and Arkas. The new rotation will start from 7 May 2023 and call at Antwerp, Le Havre, Tanger Med, Dakar, Tema, Abidjan, Tanger Med, Antwerp. The service turns in 4 weeks and deploys 3 ships of 4,250 teu from Hapag-Lloyd and one 2,500 teu ship from Arkas.
Hapag-Lloyd will launch a new West Africa 1 (WA1) service that connects Tanger Med, Nouakchott, Freetown, Conakry, Monrovia, Tanger Med from 15 May 2023. The new service will be operated on a fortnightly frequency and turn in 4 weeks using 2 ships of 1,700 teu.
Hapag-Lloyd will launch a new Vietnam Indonesia Straits (VIS) service that connects Ho Chi Minh City, Singapore, Port Klang, Belawan, Penang, Port Klang, Singapore, Ho Chi Minh City. The new service will turn in 2 weeks and starts from 10 April 2023 with the 1,781 teu CAT LAI EXPRESS that is shifted from the current Singapore-Vietnam Feeder (VNF) service. Hapag-Lloyd's new VIS service rotation
Hapag-Lloyd is splitting its Gulf Caribbean Service (GCS) service, which connects Houston with Mexico, Central America and Caribbean, into a North and South Loop. The North Loop (GCS) will call Houston, Altamira, Veracruz, Puerto Barrios, Puerto Cortes, Caucedo, Kingston, Houston on weekly basis with 3 vessels, beginning with the 2,506 teu MAIRA at Houston on 13 April 2023 followed by the 3,237 teu ANTIBES EXPRESS and 2,357 teu MINERVA. ONE will take slot under its service CX5. The South Loop