ONE is scheduled to report its calendar Q3 results on October 31, 2024, marking the start of the reporting period for major liners. ONE has projected its Q3 2024 net profit to increase by 88% quarter-on-quarter, while COSCO recently indicated that its Q3 2024 EBIT is expected to rise by 154% quarter-on-quarter. Other liners have not provided guidance for Q3, but those that have offered FY2024 projections suggest their second-half earnings could vary from a decline quarter-on-quarter to an incre
Asean Seas Line (ASL) will add a new Bangkok Thailand Express (BTX) service from 21 September 2024 by joing Zim/GSL on the latter's existing South China Thailand Express (SXT) service connecting Nansha, Dachan Bay, Laem Chabang, Bangkok, Laem Chabang, Cai Mep, Nansha. The BTX/SXT service turns in 14 days using 2 ships of 1,600-1,900 teu with ASL adding the 1,640 teu newbuilding CA SAIGON from 21 September at Nansha, replacing the 1,645 teu SEA OF LUCK that is operated by Gold Star Line (GSL). G
Zim has announced the launch of a new Zim Central China Xpress (ZX2) service connecting Shanghai, Ningbo, Los Angeles, Shanghai from 3 July 2024. The ZX2 will turn in 35 days and will deploy 5 ships of 4,200 teu starting with the 4,239 teu STAMATIS B at Shanghai on 3 July 2024. The service will offer a 13 day transit time between Ningbo and Los Angeles which is comparable to the fastest transpacific services operated by Matson and APL/CMA CGM. Zim has already operated 2 extra loaders on the ZX
Zim reported its first profitable quarter since 2022 with 1Q 2024 net profits reaching $90.2m and EBIT at $167m for an EBIT margin of 11%. Zim’s full year EBIT guidance was raised to between $0 to $400m from its previous projection of between -$300m to $300m although management cited continued market uncertainty in the second half for the wide range. Zim’s total liftings increased by 10% to reach 846,000 teu with Transpacific volumes rising by 27% while Asia-Med volumes dropped by 40%. Transp
Capacity competition between carriers remain very keen, as shown by Zim’s growth since 2020. New vessel deliveries at more than 1 ship delivered daily since March will continue with over 300,000 teu scheduled to be delivered each month in April through June. Zim has received the ZIM MOUNT VINSON on 3 April, the last unit in the series of 10 ships of 15,248 teu built by Samsung H.I. for Seaspan. These 10 ships have been chartered by Zim for 12 years and brings its total capacity operated to 714,
COSCO and OOCL have added a new Mediterranean Feeder Service (MFS) / Israel West Med (IWM) service with the injection of a ship to Zim's Tyrrhenian Container Line (TYR) service. COSCO has been taking slots on the Zim service since November 2023. The TYR/MFS/IWM calls at Ashdod, Haifa, Fos, Genoa, Salerno, Ashdod and turns in 3 week with 3 ships of 1,100-1,400 teu. COSCO will deploy the 1,223 teu FREDERIK on the service from 13 March 2024 to join Zim's 1,134 teu ASIATIC KING and 1,421 teu NAVI B
Zim has launched a new South China Thailand Express (SXT) service connecting Nansha, Dachan Bay, Sihanoukville, Laem Chabang, Bangkok, Cai Mep, Nansha from 7 January 2024. The service turns in 2 weeks and deploys the 1,645 teu SEA OF LUCK and 1,930 teu KANWAY FORTUNE.
Zim has launched a new ZIM PNW X-Press (ZPX) service that connects Cai Mep, Yantian, Kaohsiung, Xiamen, Ningbo, Shanghai, Vancouver, Busan, Cai Mep starting from 21 January 2024. The new ZPX service will turn in 7 weeks and will initially deploy 5 ships of 2,800-4,200 teu starting with the 2,824 teu GSL VALERIE, 4,253 teu SYNERGY OAKLAND, 3,534 teu BACH and 2 additional ships that have not yet been named. It will operate with 2 blank sailings in each cycle, starting with blanks on 11 February
Zim has replaced the former Port Klang calls on the ZIM Med Premium (ZMP) service with a new westbound call at Cai Mep effective from 8 January 2024. The revised ZMP service will call at Busan, Qingdao, Ningbo, Shanghai, Dachan Bay, Cai Mep, Colombo, Haifa, Ashdod, Mersin, Yarimca, Ambarli, Dachan Bay, Xiamen, Busan. The ZMP called Port Klang on both the eastbound and westbound directions but all calls have stopped since Malaysia's decision to ban Zim ships from calling at its ports that was a
Zim has announced higher rates for its Asia-Med Zim Med Premium (ZMP) service that has been rerouted to the Cape route from its regular Suez routing from December 2023 in order to avoid the Houthi attacks on ships using the Red Sea passage. The lengthened ZMP routing will raise the total roundtrip time to 15 weeks compared to 10 weeks previously. The service will retain it current calls at Busan, Qingdao, Ningbo, Shanghai, Dachan Bay, Port Klang, Haifa, Ashdod, Mersin, Yarimca, Ambarli, Port Kl