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
Taiwanese liners' industry first top line reports came out over the last three days. In July, Evergreen delivered another record revenue while both Yang Ming and Wan Hai saw their top line came of 5% and 6% MoM respectively. In aggregate, the Taiwanese liners' top line in NTD was down 1% MoM. Since USD has strengthened further in July, these liners' top line in USD maybe down 2% MoM. Given July volume usually is higher than same in June. Average freight rates may be down sequentially during J
Taiwanese carriers' monthly revenue up 6% MoM in June and, on quarterly basis, 22Q2 was flat comparing to 22Q1, a trend consistent with the top line reported by OOIL earlier.
Wanhai is launching Asia - South America III Service (AS3), another FE-WCCA service, connecting Shekou, Hong Kong, Ensenada, Manzanillo (Mexico), Shekou in 42 days
MSC is pulling further ahead from Maersk. CMA CGM and Evergreen also gaining market share.
PIL and partners enhance Gulf China Service, with ESL to join in JulyPIL has announced an enhancement to the Gulf China Service (GCS) with the addition of new calls at Shanghai and Singapore.
Taiwanese liners' May top line came out flat MoM, again reassuring that impacts during the Shanghai lockdown were minimal for the liners.
The 3 main Taiwanese carriers have reported an 8% QoQ growth in revenue for the 1st quarter of 2022. It is their 7th consecutive quarterly growth, built on higher freight rates and stronger USD.
Wan Hai has launched a new South China-Vietnam- Eastern India service (CI7) that will connect Haiphong, Zhanjiang, Nansha, Ho Chi Minh City, Port Klang, Chennai, Visakhapatnam, Port Klang, Haiphong using 4 ships of 1,400-1,700 teu. The service will start at Haiphong on 26 March 2022 with the 1,440 teu CAPE FARO.
Wan Hai and Interasia Lines (IAL) have launched a new South China-Vietnam-Malaysia (CVM) service. The new service kicked off on 23 December 2021 at Haiphong with the 1,134 teu ASIATIC BAY. The service will call Haiphong, Zhanjiang, Nansha, Port Klang, Haiphong on a 14 day rotation. It will only deploy a single ship initially and call on a fortnightly frequency, with a second ship expected to be added at a later date. Port rotation of the new CVM service operated by Wan Hai and IAL