ONE

Services

COSCO/OOCL & ONE to jointly launch ECSA-Europe (ESE2/EEX/LUX) service

COSCO/OOCL and ONE will jointly launch a new East East South America-Europe service from 16 September 2023, branded respectively as the 'East Coast South America-Europe 2' (ESE2), 'Europe-East Coast South America Express' (EEX) and 'Latin-East-Coast Europe Express' (LUX). The ESE2/EEX/LUX service will call at Montevideo, Buenos Aires, Itapoa, Paranagua, Santos, Rio De Janeiro, Algeciras, Rotterdam, London Gateway, Hamburg, Antwerp, Lisbon, Algeciras, Santos, Paranagua, Montevideo using 9 ships

Services

Namsung, ONE, PIL & TSL team up to launch Korea-China-Straits (NFS/KC2/KCS/KMV2) service

Namsung, ONE, PIL and TS Lines are coming together to launch a new Korea-China-Straits service starting from 6 July 2023. The new service will call at Busan, Kwangyang, Shanghai, Shekou, Singapore, Port Klang, Penang, Singapore, Ho Chi Minh City, Nansha, Busan using 4 ships of 2,000-2,900 teu, with each partner to deploy one ship each. The service will be branded respectively as the New Far East Straits (NFS) by Namsung, Korea China Straits 2 (KC2) by ONE, Korea-China-Straits (KCS) by PIL and

Ships

Charter rates remain divergent

Charter rates continue to diverge, remaining firm for the larger ships in the Panamax and larger segments while softening in the smaller sizes of below 3,000 teu. Demand in the larger sizes have been surprisingly resilient despite the ongoing weakness in the freight markets. All prompt vessels of 5,000 teu and above have been snatched up, with the tight supply to persist until the end of the year. But the supply-demand balance for smaller ships have started to weaken, with a significant number

Companies

Parent Companies Guide 90% Fall in Earnings from ONE

NYK and K-Line also reported beginning of this week where both operators guided the 91-92% YoY drop in the earnings from their container liner activities, in line with what MOL guided. Japanese shipping companies have the longest track record in guiding forward  container liner earnings, dating back to 2005-2007. Of the 16 years where all three Japanese shipping companies have guided container liner earnings, the actual earnings beat guidance in 8 years. Their actual earnings tend to track bel

Companies

ONE's 1Q earnings dropped 56% QoQ and suspended guidance

ONE reported its 4Q earnings for fiscal year 2022, which is 1Q23 on calendar year, during lunch break last Friday (28 Apr) with net profit down 56% QoQ and 76% YoY. Though, such quarterly results were still better than any quarter before 2021. The average unit revenue earned by ONE fell just 38% YoY whereas CCFI dropped 68% YoY as ONE likely benefited from higher contract mix and more diversified route mix than the CCFI, which is based on all China origin cargoes. ONE management has not prov

Services

HMM launch PSX after THE Alliance drops PS8

HMM has launched a standalone PSX service that connects Shanghai, Kwangyang, Busan, Long Beach, Oakland, Busan, Kwangyang, Incheon, Shanghai using 6 ships of 10,000 teu that are shifted from the former PS8 service that was operated as part of THE Alliance's transpacific network. The PSX retakes the same port rotation and ships as the PS8, with ONE taking slots from HMM with an allocation of 2,977 teu per voyage. Hapag-Lloyd and Yang Ming will not participate on the PSX. The last PS8 sailing

Services

ONE launches Israel Express (ILX) service

ONE has introduced a new Israel Express (ILX) shuttle service that will connect Damietta, Haifa, Ashdod, Damietta. The service is scheduled to start at Damietta on 29 March 2023 with the 1,118 teu MITO that has been fixed for 6-8 months at a daily rate of $13,250. MITO previously was deployed in Unifeeder's Intra-North Europe service.

Services

CMA CGM/ONE revise NC Levant/NEX service rotation

CMA CGM and ONE will update the port rotation on their NC Levant/North Europe-East Mediterranean Express (NEX) service that connects North Europe with the East Med/Levant. The new rotation will call at Felixstowe, Hamburg, Rotterdam, Antwerp, Le Havre, Malta, Alexandria, Damietta, Beirut, Iskenderun, Mersin, Malta, Tanger, Felixstowe with the changes to take effect from 26 February 2023. The changes include the following: * Existing Southampton call is replaced by Felixstowe * New northbou

Companies

ONE quarterly earnings down 50% QoQ

ONE reported during lunch break today (31 Jan). Net profit dropped 50% QoQ and 2022 financial year (Apr 2022-Mar 2023) earning guidance was cut by 4% or Q4 (Jan-Mar 2023) earing guidance was cut by 37%m. The 50% QoQ drop in net earnings is a touch better than the 60% QoQ drop that we previously estimated based on the Taiwanese liner's top line results here [https://www.linerlytica.com/app/post/twn-liners-top-line-reports-hinted-potentially-60-qoq-fall-in-net-profit/] . ONE's average freight ra

Services

ONE takes slots on X-Press in Altiplano Service

ONE has introduced a new Callao-Arica link named as the Altiplano Service (ATS) starting from 6 February 2023. The service will ride on slots on X-Press Feeders' Chile Peru X-Press (CPX) that calls at Callao, Arica, Iquique, Callao that is operated on a weekly frequency with the 1,638 teu BALTIC PETREL.

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