Asean Seas Line has launched new service NPX2 that connect China, Philippines and Japan. The service will call Qingdao, Shanghai, Ningbo, Xiamen, Bonny, Manila South, Xiamen, Osaka, Kobe, Hakata, Qingdao with two vessels, 706 teu RUN LONG and 698 teu ATLANTIC EAST. ATLANTIC EAST phased in on Dec 2 at Xiamen heading for its Japan leg while RUN LONG phased in on Dec 3 at Xiamen heading for Philippines leg.
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.
Kalypso Compagnia di Navigazione will launch a new Italy Line service connecting Salerno, Ravenna, Venice, Bari, Mersin, Salerno from 16 December 2022 using the 1,712 teu RIJNBORG that has been chartered for 6-8 months at $13,700 per day. The service was initially scheduled to be launched on 25 November but was delayed by 3 weeks.
CMA CGM has announced the launch of the new MOCANA service connecting Morocco to North America. The service will be offered as a leg of the OCEAN Alliance's Columbus JAX service with the addition of 2 calls at Tanger Med on the Atlantic leg of the USEC-FE-USWC pendulum service. The revised Columbus JAX service will call at Yantian, Cai Mep, Singapore, Port Klang, Colombo, Tanger Med(new), Halifax, New York, Norfolk, Savannah, Charleston, Tanger Med(new), Port Klang, Singapore, Laem Chabang, Ca
China United Lines (CUL) has served notice on 28 November 2022 for the early termination of its Long Term Cooperation Agreement with Antong Holdings that involves the charter of 12 panamax ships of 4,132 teu to 4,713 teu to CU Lines for $52,000 per day and the lease of Antong containers by CU Lines for operations on the Asia-Europe and Transpacific routes under a profit sharing arrangement. The agreement was effective from 1 June 2022 and was supposed to expire in 34 months or on 1 April 2025.
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.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202247] Freight rates continue to spiral downwards with FE-Europe, FE-Middle East and FE-Australia rates suffering the sharpest falls last week, amidst volume weakness across all tradelanes. Carriers are pushing for a new round of General Rate Increases (GRI) in December but they are unlikely to succeed if surplus capacity are not removed. Contract rates for the new 2023 season appear certain to fall by as much as 80% as the
Regional Container Lines (RCL) has revised its RCL Singapore-South Philippines 6 (RSP6) service with new calls at Zamboanga and Bintulu in East Malaysia. The revised service will connect Cebu, Cagayan de Oro, Zamboanga, Bintulu, Singapore, Cebu starting from 9 November 2022 with the 1,018 teu DANU BHUM on a 14-16 day frequency. RCL started its business in the Philippines in 1988, at the Port of Manila and was the first common feeder vessel to serve the port of Cebu and Davao in the early 90s.
Arctic Container Line has added a second feeder service with the launch of the Germany-Norway service on 13 November 2022 with the 712 teu RS MISTRAL. The new service calls at Bremerhaven, Hamburg and the Norwegian ports of Egersund, Tananger, Haugesund, Bergen, Florø, Ålesund and Orkanger. Arctic Container Line was established in March 2022 as a subsidiary of the Myklebusthaug Group of Norway to operate container feeder services between Europe and Scandinavia. It launched its first service on
On 25 Nov, CMA CGM reported 3Q earnings which was down 7% QoQ driven by 3% QoQ lower freight rates and 9% QoQ higher OPEX. Main delta for OPEX increase are fuel and chartering expenses. CMA CGM’s group level profit margin is lower than that of the liner industry average, being affected by the less profitable logistics businesses. However, CMA CGM enjoys relatively better capital efficiency on less idle cash on its balance sheet, which helps CMA CGM deliver a Return on Equity ratio on par with