HMM

Services

THE Alliance updates EC1 and EC2 service rotations

THE Alliance will revise the rotations of the Far East-US East Coast EC1 and EC2 services from November 2023 following the withdrawal of the EC4 service. A new call at Xiamen will be added to the EC1 service that will call at Kaohsiung, Xiamen (new), Yantian, Shanghai, Yangshan, Ningbo, Busan, Manzanillo, New York, Norfolk, Charleston, Savannah, Manzanillo, Balboa, Kaohsiung. A new call at Yantian is added on the EC2 service that will call at Qingdao, Yantian (new), Ningbo, Yangshan, Busan, C

Service cancellations

THE Alliance to withdraw FE5 service

THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) will withdraw the Asia-North Europe FE5 service from November 2023. The FE5 is the second smallest of the 5 Asia-North Europe loops operated by THE Alliance and currently deploys 10 ships of 13,800-14,100 teu calling at Laem Chabang, Cai Mep, Singapore, Colombo, Rotterdam, Hamburg, Antwerp, London Gateway, Jeddah, Singapore, Laem Chabang, with 1 sailing blanked on an 11 week round trip rotation. The last westbound sailing is scheduled

Service cancellations

THE Alliance to withdraw EC4 service to US East Coast

THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) will withdraw the EC4 service from November 2023. The EC4 is 1 of the 5 FE-US East Coast services that THE Alliance currently operates. The last sailing will be made by the 14,078 teu YM WIND from Hong Kong on 6 November 2023. The service calls at Kaohsiung, Xiamen, Hong Kong, Yantian, Cai Mep, Singapore, Suez Canal, Norfolk, Savannah, Charleston, New York, Suez Canal, Singapore, Kaohsiung. The service currently deploys 11 ships of 13,

Services

HMM extends Intra-Asia Cross Network (ICN) to Indonesia & reinstate Philippines TTP service

HMM will revamp its Intra-Asia Cross Network (ICN) service with the extension of the service to Indonesia, while splitting the exising Philippines connection to a separate Tianjin to Philippines (TTP) service. The ICN was first launched in May 2022 and replaced its former Korea Vietnam Thailand Express (KVX/KTX) that was jointly operated with KMTC and its standalone Tianjin to Philippines (TTP) service. The initial ICN operates on a two-wing butterfly pattern calling at Busan, Shanghai, Ho Chi

Companies

HMM earnings fall broadly in line with sector average

HMM’s liner EBIT fell 43%, which is broadly in line with the peers, as fall in freight rates off set increase in volume on the top line. HMM’s volume were up 12% QoQ, similar to CMA CGM and ONE, but is way ahead of Maersk and OOCL (+7% QoQ) and Hapag Lloyd (+4% QoQ).

Services

HMM to launch new FE-India-Med service

HMM will launch a new Far East-India-Med (FIM) service from 1 August 2023 that connects Busan, Kwangyang, Shanghai, Ningbo, Shekou, Singapore, Port Klang, Kattupalli, Nhava Sheva, Mundra, Karachi, Jeddah, Damietta, Piraeus, Genoa, Valencia, Barcelona, Piraeus, Damietta, Jeddah, Karachi, Mundra, Nhava Sheva, Kattupali, Singapore, Dachan Bay, Busan. The service will be independently operated by HMM and turns in 84 days with 12 ships of 4,700 to 8,600 teu. The service will replace HMM's current Ch

Services

HMM adds direct Jakarta to South America link

HMM has added a new call at Jakarta on the Far East-India-Latin America (FIL) service to provide a direct link between Indonesia and Latin America. The enhanced FIL service will call at Busan, Shanghai, Ningbo, Shekou, Jakarta, Singapore, Kattupalli, Santos, Paranagua, Itapoa, Itajai, Buenos Aires, Montevideo, Santos, Singapore, Hong Kong, Busan. The first call at Jakarta was made on 8 June 2023 with the 6.765 teu HYUNDAI SHANGHAI. 12 ships of 4,700-6,800 teu are deployed on the service that i

Financials

Main carriers liftings drop for 7th consecutive quarter

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

Companies

HMM 1Q results broadly in line with peers

Results out after market on 15 May. The fall in aernings and the mid-teen EBIT margin are broadly in line with Asian liner peers already reported. But what may have gone unnoticed in the market is that HMM has quietly took the lead in having the lowest slot costs. HMM has been operating a fleet of larger average vessel size since 2016. The dramatic development between 2018 and 2020 for HMM was due to its improvement in fuel efficiency (e.g. scrubber retrofit) and reduction in dependence on cha

Services

HMM launch ICN (Intra Cross Network) service

HMM has launched a new ICN (Intra Cross Network) service that operates on a two-wing butterfly pattern calling at Busan, Shanghai, Ho Chi Minh City, Laem Chabang, Ho Chi Minh City, Incheon, Busan, Qingdao, Shanghai, Kaohsiung, Manila, Busan, Dalian, Qingdao, Busan. The total duration will be 42 days using 6 Bangkokmax ships of 1,700 to 1,900 teu. The service starts on 19 May 2022 at Busan with the 1,805 teu PELICAN, followed by the 1,809 teu SKY RAINBOW, 1,762 teu INCEDA, 1,713 teu AS SUSANNA,

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