Zim/Gold Star Line (GSL) will launch a new Thailand Fremantle Express service from January 2023. The service will call at Ho Chi Minh City, Laem Chabang, Port Klang, Sydney, Melbourne, Fremantle, Port Klang, Ho Chi Minh City using 5 to 6 ships of 1,700-2,600 teu on a 42 day rotation starting with the 2,450 teu GSL AFRICA at Laem Chabang on 4 January 2023.
ZIM and its subsidiary GSL are to introduce the new Thailand Fremantle Express (TFX) that will connect Ho Chi Minh City, Laem Chabang, Port Klang, Sydney, Melbourne, Fremantle, Port Klang, Ho Chi Minh City. The TFX will turn in 6 weeks on a 42-days round trip, starting with the 2,450 teu GSL AFRICA and 1,717 teu OPHELIA that will phase in at Ho Chi Minh City on Dec 26 2022 and Jan 2 2023 respectively. GSL AFRICA is currently deployed in China 2 Australia Express (C2A) while OPHELIA is being
Zim/Gold Star Line (GSL) has launched a new China Thailand Vietnam III (CT3) service that connects Ningbo, Xiamen, Nangha, Laem Chabang, Bangkok, Laem Chabang, Haiphong, Yantian, Nansha, Ningbo from 25 November 2022. The CT3 turns in 3 weeks using 3 Bangkokmax ships, the 1,762 teu MTT SANDAKAN and two 1,984 teu newbuildings MARLA TIGER and MARLA BULL that have just been chartered by Zim.
The main carriers’ average EBIT margins fell by 3.4% from the 2Q peak of 54.3% to 50.9%. However, the gap between individual carriers are widening, with some notable drops at Wan Hai (down 13.0%), OOCL (down 8.3%), HMM (down 6.8%) and Yang Ming (down 6.1%). Carriers with a larger share on the Asia-US West Coast have suffered the largest margin erosion, with a sharper drop expected in 4Q 2022 as the rate malaise has spread to other tradelanes.
ZIM has slashed its 4Q 2022 EBIT earnings forecast to $440m from $740m, compared to $1,554m in 3Q 2022 due to falling freight rates and weaker liftings. Although ZIM has emphasized its commercial and operational agility, this will be tested over the next 2 years as it takes delivery of more than 50 newbuildings and committed vessel charters that will raise its operated capacity by some 70% (before charter redeliveries). Zim’s heavy reliance on chartered tonnage since its financial restructurin
Zim, Maersk and MSC will suspend their jointly operated ZSE/TP23/Liberty service that currently covers Tanjung Pelepas, Cai Mep, Yantian, Charleston, Savannah, New York (intermittently omitted), Tanjung Pelepas. The last sailing will depart from Tanjung Pelepas on 23 November 2022 with the 5,936 teu IAN H. The service currently deploys 10 ships of 5,400-6,600 teu on a 13 week rotation, including 9 ships operated by Zim and 1 ship by Maersk. The suspension of this service will remove an average
ZIM reported before US market open on 16 Nov. Net profit was down 13% QoQ on sequentially lower freight rates, lower volume and higher costs particularly in chartering expenses. In the earnings call, the management mentioned that they have lower the signed freight rates in the existing contracts.
ZIM has launched the Poti Turkiye Feeder (PTF) that connects Poti, Ambarli, Aliaga and Poti on fortnightly basis with 925 teu CONTSHIP JOY that is phased in at Poti on 1 Dec 2022.
Gold Star Line will launch a new Korea Express (KRX) service from 18 October 2022 calling at Taichung, Kaohsiung, Shekou, Xiamen, Busan (New Port & North Port), Incheon, Xiamen, Taichung. The GSL service will turn in 2 weeks using the 1,134 teu ZIM AUSTRALIA and the 1,049 teu ASIATIC PRIDE.
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