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.
SITC and Jin Jiang Shipping (JJS) have revised their jointly operated China-Thailand-Vietnam (VTX5/CTX2) service, with a completely revised rotation from October 2022. The service was launched on 1 June 2022 and had originally called at Shanghai, Nansha, Bangkok, Laem Chabang, Ho Chi Minh City, Shanghai. The last sailing on the previous rotation was made on 11 October 2022. The revised VTX5/CTX2 service will call at Lianyungang, Qingdao, Laem Chabang, Bangkok, Laem Chabang, Ho Chi Minh City,
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
MSC is pulling further ahead from Maersk. CMA CGM and Evergreen also gaining market share.
SITC launched new service, E-Commerce Express 1 service (EPX1), that covers port rotation Xiamen-Manila-Xiamen with one ship PHUC THAI (698 teu).