Maersk

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

Companies

Maersk to switch to a unified brand

Maersk announced on 27 January 2023 that it plans to move towards an unified Maersk brand by integrating the separate Maersk brands including Hamburg Süd and Sealand. It did not provide any intended timeline for the transition to the unified Maersk brand and said that each brand will follow its own tailored timeline as they operate in different geographies. The brands to be integrated under an unified Maersk nameMaersk had already abandoned the Safmarine and Damco brands in 2020. Maersk brands

Companies

2M breakup will trigger more market disruptions

The 2M breakup will trigger another round of market instability as Maersk and MSC jostle for pole position on the East-West routes where they currently cooperate. While MSC will have sufficient new ship capacity by 2025 to fully replace Maersk’s current vessel contribution to the 2M network, an independent Maersk network will fall behind MSC, OCEAN Alliance and THE Alliance offerings. Maersk and MSC announced on 25 January 2023 the termination of the 2M alliance effective from January 2025. The

Companies

How MSC outplayed Maersk at their own game

The timeline of how Maersk was outmaneuvered by MSC culminating in the announcement on 25 January 2023 that the 2 carriers will terminate their 2M partnership in January 2025. Maersk and MSC capacity operated 2010-2025While Maersk dithered through strategic mis-steps including high profile flops such as Daily Maersk and TradeLens, MSC was resolute in building scale in its shipping business. Maersk had triggered the capacity race in 2011 when it ordered the first Triple-E ships but has been bea

Utilization

Alliances Help Fill Shipping Capacity

Services operated jointly i.e. by alliances usually enjoyed better utilization than the services operated independently by a single liner. Since 2020, utilization for alliance services have been 6% points better than the same for independent services. The utilization for the independently operated services tend to be more volatile. Wider sales network helps fill vessel capacity, we figure. The utilization gap narrowed since December 2020 was just due to diversion of capacity buildup where the

Services

Hapag-Lloyd / ANL / Maersk / ONE updates Southeast Asia-Australia services

The four carrier partnership of ANL (CMA CGM), Hapag-Lloyd, Maersk and ONE on the SE Asia-Australia route will revise their 3 existing services from March 2023. The first service, branded respectively as the ANL 'AAX-S' (changed from AAX1), Hapag-Lloyd 'SEA', Maersk 'Greater Australia Connect' (GAC) (changed from Cobra) and ONE 'AU1', will call at Port Klang, Tanjung Pelepas, Singapore, Melbourne, Sydney, Adelaide, Fremantle, Port Kelang from 9 March 2023 with the 8,400 teu MAERSK STRALSUND .

Financials

Container Liner Earnings Release Schedule

Container liners Q4 earnings report will likely be a turning point of this earning cycle, underlined by the 45% QoQ drop in average CCFI index. Listed Taiwanese liners have released their revenue report in the second week of January. The up coming liner revenue or earning reports IF they follow last year's release schedule would be as follows (last year release date): 1. Maersk preliminary results (14 Jan); 2. Matson profit alert (19 Jan); 3. OOCL operating updates (24 Jan); 4. COSCO prof

Services

Sealand/Maersk launch new HP3 service to Haiphong after PH9 revision

Sealand Asia will launch a new HP3 service connecting Busan, Kaohsiung and Nansha with Haiphong as part of a revamp of its existing PH9 service with the South China to Cebu and Cagayan de Oro leg that will be incorporated in the new HP3. The HP3 start from 16 December 2022 and will call Busan, Kaohsiung, Nansha, Haiphong, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan. The service turns in 4 weeks and will deploy the 1,756 teu NORDTIGER, 1,740 teu ASIAN ACE, 1,774

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