ONE, Namsung, TS Lines and SITC are joining hands to launch a new Korea China Indonesia (KCI) service calling at Busan, Qingdao, Shanghai, Ningbo, Jakarta, Surabaya, Shekou, Xiamen, Busan from 10 October 2023. The KCI service will turn in 28 days using 4 ships of 2,600-3,000 teu. Each of the 4 partners will provide 1 ship each on the service, starting with the 2,954 teu TS MUNDRA at Busan on 10 October, to be followed by the 2,741 teu LORRAINE, 2,700 teu SITC PORT KLANG and 2,556 teu STARSHIP
SeaLead, Sinotrans, SITC and TS Lines are jointly launching a new Far East-India Express/China India Express (FIX/FIE1/CIE) service from 23 August 2023. The new service will call at Qingdao, Shanghai, Ningbo, Shekou, Chennai, Visakhapatnam, Port Kelang, Shekou, Qingdao. The service will deploy 5 ships of 2,400-4,400 teu, the 4,395 teu REN JIAN 27 from SeaLead, 2,400 teu SNL HAIKOU from Sinotrans, 2,698 teu SITC ZHAOMING from SITC, 2,900 teu TS MELBOURNE from TSL and a 5th ship that remains to b
The North China Express (NCX) service that is jointly operated by KMTC, SITC, RCL and X-Press Feeders has been suspended from 14 May 2023. The service was first launched in February 2021 by the 4 carriers and call at Dalian, Xingang, Qingdao, Ningbo, Singapore, Port Klang, Shekou, Incheon, Dalian using 4 ships of 2,400-2,800 teu with each partner contributing 1 ship each. KMTC and SITC have replaced the service with a new China Malaysia Vietnam (CMV/FEM3) service that is operated in partnersh
SITC has revised its China Malaysia Indonesia 2 (CMI2) service that was first launched in March 2021 with calls at Semarang and Surabaya to be removed from May 2023. The new CMI2 rotation will call at Nansha, Shekou, Haiphong, Qinzhou, Ho Chi Minh City, Jakarta, Laem Chabang, Ho Chi Minh City, Batangas, Manila(N), Nansha. The revised service will turn in 4 weeks using 4 ships of 1,000 teu to 1,300 teu - the ISEACO FORTUNE (1,367 teu), SITC QINZHOU (1,043 teu), TIGER BINTULU (1,384 teu) and TI
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
Sinotrans and SITC have extended their jointly operated China Haiphong Service (CHS/CJV5) with a northbound extension to Busan from 3 April 2023. The extended CHS/CJV5 service calls at Busan, Ningbo, Shanghai, Hong Kong, Haiphong, Danang, Hong Kong, Ningbo, Shanghai, Busan on a 3 week rotation using the 1,510 teu REN JIAN 6 and 1,774 teu INFERRO from Sinotrans and the 1,808 teu SITC SHANDONG from SITC.
SITC reported after market close on 7 March where 22H2 net profit dropped 38% HoH, much steeper than larger liners' 10-11% HoH drop on SITC particularly high spot market exposure. SITC reports full results semi-annually while provides top line update quarterly. On quarterly basis, 4Q 2022 revenue dropped only 11% QoQ, decelerating from the 20% QoQ drop in 3Q as SITC gained market share by having increased its volume during 4Q by 18% QoQ. Maersk reported lower intra regional volume while Hapag
SITC has added a new call at Kuantan on its China Bengal Express 2 (CBX2) service from 5 December 2022. The revised service will call at Qingdao, Shanghai, Ningbo, Chittagong, Penang, Port Klang, Kuantan, Qingdao. SITC full service network in 2022
SITC is launching China Bengal Express 2 (CBX2) that calls Qingdao, Shanghai, Ningbo, Chittagong, Penang, Port Klang, Qingdao on weekly basis with 5 ships: 1,808 teu SITC KEELUNG, 1,808 teu SITC SHANGHAI, 1,808 teu SITC HANSHIN, 1,808 teu SITC KANTO and 1,781 teu SITC JIADE. SITC JIADE will start the service on Nov 9 at Qingdao.
SITC provided 3Q operation update at noon on Monday (24 Oct). SITC's container shipping and logistics revenue up 41% YoY but dropped 20% QoQ.