Diamond Line, the intra-European feeder subsidiary of COSCO, has launched a new LGX1 service calling at Piraeus, Limassol, Ashdod, Iskenderun, Damietta, Piraeus, starting with 1,432 teu CONTSHIP RUN at Piraeus on 30 August 2o22. The service turns in 2 weeks, with the 1,432 teu CONTSHIP SEA also to be deployed. LGX1 service
SeaLead has revised the port rotation for its Asia-US East Coast (AEC) service from September 2022 with the new rotation to call at Nansha, Ningbo, Qingdao, Busan, Manzanillo, Jacksonville, Charleston, Norfolk, New York, Nansha. The AEC was launched on 7 March 2022 using 3 to 4 ships of 4,872 teu to 6,882 teu on an irregular frequency that initially called at Nansha, Ningbo, Qingdao, Busan, Norfolk, New York, Charleston, Jacksonville, Nansha. The revised rotation will allow for transhipment op
HICO Investment Group, a privately owned trust fund owned by the Hartnoll family, revealed on 25 August 2022 that it has acquired the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners. At the same time, HICO also revealed that it has acquired a controlling stake in Caribbean Feeder Services (CFS) from Pérez y Cía who remains a minority shareholder and partner in the CFS business. The Hartnoll family also owns X-Press Feeders (Sea Consortium), as well as various shipowning entities t
Emirates Shipping Line (ESL) has started a new Jebel Ali Bahrain Shuwaikh Service (JBS) calling at Jebel Ali, Bahrain (Khalifa Bin Salman Port), Shuwaikh, Jebel Ali. The service turns in 7 days on a weekly frequency. The service launched on 17 August 2022 with the 1,678 teu ESL VICTORIA that will make 2 round trips on the JBS before it is replaced by the 1,341 teu ESL ZANZIBAR. (source: Emirates Shipping) JBS service rotation
The decline in container freight rates has been gathering pace over the past week. SCFI suggested spot rates to USWC and NEUR have fallen 11% and 7% respectively over the past week, comparing to decline of 6% and 4% respectively the week before. Utilization in the FE-USWC trade actually picked up a bit the last few days after several very light departures recorded on 19 Aug and 20 Aug involving services independently operated by Maersk, MSC and CMACGM. But those light departures have obviously
X-Press Feeders started new weekly shuttle service, Matadi Shuttle X-PRESS (MSX), that runs between Pointe Noire and Matadi. The shuttle has started with 618 teu LIMASSOL at Pointe Noire on 3rd August. (source: X-press)
Container liners proved to be able to generate values for shareholders despite of the cyclicality of their operating performance. From 2000 to July 2022, container liners returned over 700% to their shareholders whereas during the same period MSCI World returned only 440%.
Global container port volumes have remained resilient in July with aggregated throughput from Linerlytica’s port sample of over 200 ports reaching an estimated new high of 67.07m teu for the month. Chinese ports posted a strong 10% growth in July, led by very strong gains in Shanghai and Ningbo. The volume recovery since lockdowns in Shanghai and parts of Jiangsu province were eased have helped to push the strong volume recovery in the Eastern China ports. Total throughput at Chinese ports re
European port congestion picked up over the past week especially in Rotterdam where the number of vessels waiting at anchorage rising very quickly while yard capacity utilization has reached critical levels. Barge traffic has been affected by low water on the Rhine as well as diversions from UK to avoid the Felixstowe port strike. This is relieving congestion at ports further downstream, with German ports seeing a slight reduction in the vessel queues. There were no material change in the numb
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202233] Port congestion remains flat globally, with the start of the 8-day strike at Felixstowe having only a limited impact. Just 2 containerships are currently in the UK port, with 3 more ships scheduled to arrive after the end of the strike window. Asia Europe freight rates are still falling sharply providing further warning signs that softening demand is outweighing the impact of bottlenecks across supply chain. Contrac