ONE is scheduled to report its calendar Q3 results on October 31, 2024, marking the start of the reporting period for major liners. ONE has projected its Q3 2024 net profit to increase by 88% quarter-on-quarter, while COSCO recently indicated that its Q3 2024 EBIT is expected to rise by 154% quarter-on-quarter. Other liners have not provided guidance for Q3, but those that have offered FY2024 projections suggest their second-half earnings could vary from a decline quarter-on-quarter to an incre
Maersk will launch a new Northern Star service connecting Shanghai, Hong Kong, Brisbane, Auckland, Nelson, Timaru, Port Chalmers, Napier, Tauranga from 20 October 2024. The Northern Star service will turn in 8 weeks and deploys 8 ships of 2,700 to 3,500 teu starting with the 3,450 teu MAERSK INNOSHIMA at Shanghai on 20 October 2024. Maersk new Northern Star service port rotationFollowing the introduction of the new service, Maersk will revise the rotation of the Southern Star service from 2 No
Maersk will launch a new Far East-Indian Subcontinent 1 (FI1) service calling at Colombo, Laem Chabang, Yantian, Hong Kong, Colombo from September 2024. The service will turn in 4 weeks and will deploy 4 ships of 3,500 teu to 7,800 teu starting with the 4,506 teu DYROS at Colombo on 10 September.
Maersk's liner business turned around in 2Q 2024 after three quarters of negative EBIT but barely got much benefits from the soaring spot freight rates during the 2Q 2024. Average freight rates earned by Maersk up only 1% YoY and 7% QoQ against CCFI's 53% YoY and 12% QoQ. Maersk's liner EBITDA margin at 16.8%, much lower than CMA CGM's 23.9% and ONE's 28.9% in 2Q 2024. So despite of the Maersk's larger fleet, Maersk's EBITDA is 35% below that of CMA CGM's in 2Q 2024. All these three liners that
MSC’s planned newbuilding orders will bring its overall fleet to 7.5m TEU by the end of 2028 as it continues to widen the gap with their main rivals. The latest MSC orders is expected to include 10 units of 21,000 teu at Hantong, as well as a series of 12,000 teu units at Rongsheng and 11,000 teu units at Penglai Jinglu to be delivered from 2027. Although CMA CGM’s new vessel delivery pipeline will allow it to surpass Maersk by 2027, it will still trail MSC by more than 2m teu by the end of 2028
With the rest of its main rivals pushing ahead with their capacity expansion plans, Maersk has been stagnant with its capacity operated capped at 4.3m TEU since 2017 as the Group pursued its logistics integrator strategy. This is set to change as Maersk stated last week that it will be “doing whatever it reasonably can to bring supply in line with businesses’ demand for capacity”, as it hints to an imminent reversal of its self-imposed capacity cap. The move follows Maersk’s withdrawal from it
Maersk has relaunched the Far East-Middle East 1 (FM1) service with a new rotation calling at Singapore, Jebel Ali, Abu Dhabi, Salalah, Singapore from 29 June 2024. The new FM1 service will turn in 28 days and will deploy 4 ships of 3,500-8,700 teu.
Maersk has relaunched the IA11 service with a new rotation calling at Shanghai, Ningbo, Ho Chi Minh City, Shanghai from 1 July 2024 The IA11 will turn in 14 days and will deploy 2 ships - the 1,740 teu MAERSK VERACRUZ and 1,891 teu ERASMUS LEO. Maersk had operated the IA11 service previously with a southbound call at Kaohsiung which is dropped in the new rotation.
Maersk will launch a new Central China-Straits-Chittagong service 3 (SH3) service connecting Shanghai, Xiamen, Kaohsiung, Nansha, Tanjung Pelepas, Chittagong, Tanjung Pelepas, Shanghai from 3 July 2024. The SH3 service will turn in 28 days and will deploy 4 ships of 2,300 teu to 2,800 teu starting with the 2,806 teu MCC YANGON at Xiamen on 3 July 2024. Maersk SH3 rotation
Maersk will launch a new AC1 service connecting Ningbo, Qingdao, Busan, Lazaro Cardenas, Posorja, Ningbo from 30 June 2024. The AC1 service will turn in 56 days and will deploy 8 ships of 4,200 teu to 5,100 teu starting with the 4,395 teu REN JIAN 17 at Ningbo on 30 June 2024. The service will complement Maersk's existing AC2 and AC3 service connecting Asia to the West Coast of South America. The AC2 service will be revised with the removal of the call at Posorja while Lazaro Cardenas and Manz