Maersk

Services

Maersk revises Philippines service coverage with new PH1

Maersk is launching a new PH1  service on 24 May 2023 calling at Busan, Shanghai, Ningbo, Kaohsiung, Hong Kong, Haiphong, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, Hakata, Moji, Hibiki, Busan. It replaces the current HP3 service that calls at Busan, Kaohsiung, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan, with the additional coverage to Vietnam and an extension of the service to Japan. The new PH1 will turn in 35 days using

Services

Maersk launches new S. China-Siam Bay-Taiwan-Philippines IA-10 service

Maersk is replacing the IA-80 service with a new IA-10 S. China-Siam Bay-Taiwan-Philippines service calling at Taichung, Xiamen, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila North, Taichung from 16 July 2023, starting with the 1,118 teu MCC ANDALAS at Taichung. Calls at Japan and Korea ports will be taken out in the new port rotation although the calls at the Korean and Japanese ports have been omitted since March 2023. The 3 ships previously depl

Companies

Maersk FY Guidance Unchanged Despite of Profitable 1Q

Maersk reported result before market today (4 May) where earnings fell hard as expected but $2.6bn at bottom line is still better than any quarters before 2021. Full year guidance stay unchanged, suggesting the EBIT for the next 3 quarters will range between negative $561mn or $2,4bn, which is a very wide range comparing to Maersk's track record before 2021. $2.4bn for 3 quarters would still be very good earnings while negative $561mn would be the worst ever. Maersk Line's unit revenue (total

Services

4 carriers launch China-Malaysia-Vietnam service

Maersk, KMTC, SITC and TS Lines are teaming up to launch a new NEA-SEA service that is branded respectively as the IA-68, CMV, FEM3 and CMV. The new service will call at Qingdao, Shanghai, Ningbo, Port Klang, Penang, Ho Chi Minh City, Shekou, Incheon, Qingdao and is scheduled to start on 9 May 2023, using 4 ships of 2,400-2,500 teu on a 28-days round trip. The following 4 vessels will be deployed initially on the service: * 2,433 teu SITC NANSHA will phase in on 9 May at Qingdao; * 2,556

Services

Maersk/Sealand Asia extends IA80 intra-Asia coverage

The Maersk/Sealand Asia IA80 coverage has been extended to North Asia to provide direct northbound connections from Philippines to the Kansai and Kyushu regions with southbound connections from North Asia to Cambodia. The revised rotation of the IA80 service started from the end of January 2023 and calls at Taichung, Xiamen, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila(N), Manila(S), Osaka, Hibishinko, Busan, Hakata, Moji, Busan, Taichung. The serv

Service cancellations

2M suspends AE1/Shogun Asia-Europe service

Maersk and MSC have announced the suspension of their AE1/Shogun service that is one of the 6 Asia-North Europe loops operated within the 2M alliance. Although officially suspended from week 11 of 2023, the AE1/Shogun service was already operated irregularly since September 2022 with just 3 voyages made in the 4th quarter with the last sailing made on 13 December 2022 when the 14,036 teu MSC ALEXANDRA made the last westbound voyage from Asia. The AE1/Shogun called at Ningbo, Xiamen, Yantian,

Ships

Burden of Idling Unevenly Shared Among Carriers

The torrent of new containership deliveries has started with #MSC setting new ship size records twice last week, with more ULCS units to come in the weeks ahead. MSC has widened its gap against Maersk to 587,000 teu with the divergence even greater if idled capacity is taken into account. #Maersk has 298,000 teu currently idled compared to just 68,000 teu from MSC, with the burden of idling excess capacity unevenly shared by the carriers. The idle containership fleet currently stand at 738,014

Service cancellations

Maersk suspends TP20 FE-USEC transpacific service

Maersk has suspended the TP20 FE-USEC transpacific service that connects Jakarta, Cai Mep, Shanghai, Ningbo, Busan, Panama Canal, Mobile, New York, Suez Canal, Jakarta with the last sailing by the 4,252 teu NAGOYA TRADER that has departed from Jakarta on 13 February 2023. The service currently deploys 12 to 13 ships of 4,200-5,500 teu and provides the only direct connection between Jakarta to the US East Coast. The TP20 was first launched by Maersk in July 2021 and was amalgamated with the TP

Services

Maersk adds TH-9 intra-Asia service

Maersk is launching a new Intra Southeast Asia service TH-9 that calls Laem Chabang, Kuantan, Tanjung Pelepas, Jakarta, Tanjung Pelepas, Songkhla, Laem Chabang on a 14-day round trip using the 2,362 teu MAERSK NORBERG and 2,362 teu MAERSK NASSJO starting from Jakarta on 8 April 2023.

Companies

Maersk guided 80-90% YoY fall in earnings during 2023

Maersk reported before European market open today (8 Feb). 4Q EBIT came out as $5.0b, better than the $4.8bn guided in November. Although not being very surprising, this beat has to be viewed in context that the 4Q EBIT was down 47% QoQ and 26% YoY. The main delta contributing to Maersk's profit was the 23% QoQ fall in average freight rates, which however was less than the 455 QoQ fall in CCFI due to Maersk's higher than average contract mix. The most concerning to the capital market is that

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