Zim, Maersk and MSC will suspend their jointly operated ZSE/TP23/Liberty service that currently covers Tanjung Pelepas, Cai Mep, Yantian, Charleston, Savannah, New York (intermittently omitted), Tanjung Pelepas. The last sailing will depart from Tanjung Pelepas on 23 November 2022 with the 5,936 teu IAN H. The service currently deploys 10 ships of 5,400-6,600 teu on a 13 week rotation, including 9 ships operated by Zim and 1 ship by Maersk. The suspension of this service will remove an average
Maersk and Global Feeder Shipping (GFS) will launch a new Intra ME/ISC service that will cover Jebel Ali, Dammam, Jebel Ali, Mundra, Pipavav, Jebel Ali with two ships, the 1,740 teu BIG DOG and 1,613 teu GFS RANNA (ex HERA). BIG DOG will phase in on 29 November 2022 at Jebel Ali while GFS RANNA, coming out of drydock, will phase in also at Jebel Ali on 6 December 2022. Maersk brands this new service as the Shaheen Express. GFS has not yet released details on the new service. Shaheen Express po
Sealand Asia, the intra-Asia arm of Maersk, has revamped its IA-9 service with a new streamlined port rotation calling at Qingdao, Yokohama, Nagoya, Kobe, Shanghai, Xiamen, Ho Chi Minh City, Singapore, Tanjung Pelepas, Port Klang (N), Penang, Port Klang (W), Tanjung Pelepas, Ho Chi Minh City, Hong Kong, Qingdao. Calls at Hibiki, Busan, Hakata, Moji, Xiamen and Jakarta are dropped, while a new call at Penang is added. The revised rotation will turn in 5 weeks instead of 6 weeks under the previou
Maersk reported 3Q before market open today (2 Nov 2022). Earnings turned out better than expected (BTE) but guidance stayed unchanged, suggesting a bearish outlook. BTE 3Q Results: EBIT $9.48bn, up 5% QoQ and 62% YoY, beat Bloomberg consensus estimate of $8.63bn. The BTE earnings were due to higher contract freight rates. During the period, Maersk continued to experienced costs increase particularly in bunker and depreciation, which including chartering. Maersk's 3Q volume dropped 8% YoY and 3
COSCO has confirmed a new order for 12 new methanol-dual fuel ships of 24,000 teu to be built at 2 of its 50% owned shipyards – Nantong COSCO KHI and Dalian COSCO KHI. These ships cost $239.85m each and 7 units will be under OOCL’s account. It adds to 12 units of 23,000 teu that were ordered in March and October 2020 on OOCL’s account for delivery in 2023 and 2024. The earlier units will operate on conventional fuel with scrubbers and cost $156-157m each. COSCO is the second major carrier to c
Maersk has added 6 dual-fuel ships of 17,000 teu at Hyundai H.I. on 4 October 2022 that are able to operate on methanol, bringing its total order for green methanol containership orders to 19 units in total. It follows the landmark order of the first 2,100 teu unit at Hyundai Mipo in July 2021 and 12 units of 16,000 teu made in 2 steps in August 2021 and January 2022 at Hyundai H.I.. The new series will take the same design of its earlier 16,000 teu series that feature a forward accommodation
Maersk has suspended the TP28 transpacific service that called at Cai Mep, Yantian, Ningbo, Shanghai, Houston, Norfolk, Cai Mep with the last sailing from Cai Mep scheduled on 13 October 2022 with the 4,431 teu MERKUR ARCHIPELAGO. The TP28 service was launched only in April 2022 and has been running irregularly using ships of 4,200-5,900 teu, with an average weekly capacity of less than 2,000 teu. The service will be merged into the revised TP20 that will call at Jakarta, Cai Mep, Shanghai, N
Maersk and MSC have suspended their jointly operated TP3/Sequoia transpacific service, with the last sailing made by the 14,036 teu MSC SAVONA from Shanghai on 22 September 2022. The service called at Ningbo, Shanghai, Los Angeles/Long Beach, Ningbo using 6 ships of 11,000-15,000 teu running on an 8 week rotation. The suspension will remove an average of 11,907 teu weekly on the trade. The TP3/Sequoia will be merged with the TP2/Jaguar service with the rotation revised to call at Shekou, Nansh
The best yard stick, in our view, measuring management performance is the financial return generate over time. And the most direct financial return for shareholders is the dividend pay-out relative to a company's market value. Liners have been swimming in cash on extraordinary earnings since 2021. Reasonably, they also distributed dividend generously. Between 2021 and July 2022 end, a total of $38bn* of dividend paid while another $14bn have been committed to be paid in 2022 by the 16 shipping
Sealand Asia is starting PH9 calling Xiamen, Taichung, Hong Kong, Shekou, Sihanoukville, Bangkok, Laem Chabang, Ho Chi Minh City, Batangas, Manila, Yantian, Hong Kong, Cagayan de Oro, Cebu, Xiamen on 28-days round trip. The service will start with 1,750 teu NORDTIGER on 13 August at Cagayan de Oro.