Matson provided preliminary 3Q earnings after market close on Monday (Oct 18). 1. 3Q22 net income and diluted EPS were expected to be $257mn to $262mn and $6.67 to $6.79, respectively, which means EPS was down about 29% QoQ but still up 2% YoY. 2. Ocean transport, which is driven primarily by Matson's China-US routes namely CLX, CLX+ and CCX, was expected to have generated $310mn to $315mn, down 34% QoQ and 14% YoY. 3. Container volume was expected to be 112,707 feu in 3Q,
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202241] The pace of SCFI price drops have slowed after the Golden Week holidays, dropping by just 5.7% compared to the pre-holiday level, but the CCFI took a sharper 13.0% drop as carriers adjusted their contract rates downwards in response to the plunge in spot rates. Rates will continue to decline as current capacity cuts remain insufficient to support the weaker cargo volumes. Charter activity has picked up after the tur
Containerships, subsidiary of CMA CGM, launched Baltic Norway (BALT N) service that calls Klaipeda, Gdynia, Oslo, Aarhus, Klaipeda on weekly basis. The service has started with 750 teu ENFORCER on 4 October at Aarhus.
CMA CGM will revamp its existing BRAZEX 1 and BRAZEX 2 services that connects the US Gulf Coast with the Caribbeans and Brazil. The NEW BRAZEX will start from 11 November and call at New Orleans, Houston, Veracruz, Kingston, Cartagena, Salvador, Santos, Navegantes, Paranagua, Santos, Rio de Janeiro, Cartagena, Kingston, New Orleans with 7 ships of 3,600-6,000 teu. A separate MANAUS SHUTTLE service will start from 29 November and call at Kingston, Manzanillo, Manaus, Vila do Conde, Kingston us
CMA CGM will launch a new Americas XL service that will connect Callao, San Antonio, Guayaquil, Cartagena, Port Everglades, Philadelphia, New York, Kingston, Buenaventura, Callao from 20 December 2022. The service is targetted at the refrigerated cargo exports from South America and it will deploy 6 ships of 3,000-4,000 teu with high reefer intakes of over 500 plug. It will be operated exclusive by CMA CGM and will be the only service to connect West Coast South America directly with the US Eas
CMA CGM will upgrade 3 of its existing Med-West Africa services with new rotations involving the MEDWAX, EURAF 3 and WAZZAN services. The new service details are as follows:- MEDWAX will operate in 35 days with 5 vessels of 2,200 to 2,800 teu calling at Tanger, Algeciras, Dakar, Conakry, Abidjan, Barcelona, Marseille, Valencia, Tanger from 29 October 2022. Revised MEDWAX rotationEURAF 3 will operate in 42 days with 6 vessels of 1,600 to 1,700 teu calling at Algeciras, Tanger, Freetown, Monrov
Shenzhen based Nep Logistics has launched its first international shipping service that connects Nansha and Vladivostok using the newly acquired 443 teu multi-purpose cargo ship NEPTUNE LINE. The ship was formerly operating under the Chinese flag as BAO AN CHENG 69 on the domestic routes. The transit time from Nansha to Vladivostok is 12 days, with on-carriage to Moscow taking another 23 days. Nep Logistics or Dayang Logistics (大洋物流) was established in Shenzhen in 2005 to provide intermodal r
Containerships, the European short sea subsidiary of CMA CGM, has launched the Sweden Express 2 (SWX2) connecting Bremerhaven, Gavle, Gdansk, Gdynia, Klaipeda, Norrkoping, Rauma, Wilhelmshaven, Bremerhaven. The new service will turn in 2 weeks using 2 ships of 907 teu, LINDA and AILA, both previously were deployed in the Intra-Northern European routes. The service will start with LINDA at Bremerhaven on 27 October.
COSCO will join CMA CGM on the MedGulf Service that calls at Genoa, Valencia, Miami, Veracruz, Altamira, Houston, Tanger Med, Genoa. COSCO will add one of the six ships of 2,000-3,000 teu on this new service that is hitherto operated independently by CMA CGM. The service was first launched on 3 October 2022 from Genoa with the 2,826 teu CMA CGM NAVEGANTES. The current service is affected by severe congestion in Houston, with 2 blanked sailings in each cycle. The new cooperation with COSCO is ex
CMA CGM will become a new partner of COSCO, OOCL and ONE on the East Med-America (EMA) service, contributing one of the six ships to be used on this service from the end of November 2022. The EMA service calls at Iskenderun, Aliaga, Ambarli, Vado Ligure, La Spezia, Algeciras, New York, Norfolk, Charleston, Algeciras, Iskenderun and is currently running on an irregular sailing frequency every 14 to 21 days with just 2 ships from COSCO and 1 ship from ONE. The service is expected to return to a r