Asean Seas Line (ASL) will expand its service coverage outside of the intra-Far East routes for the first time with the launch of a new Australia China Express (ACX) service from 25 September 2022. The ACX will call at Qingdao, Shanghai, Shekou, Brisbane, Sydney, Melbourne, Qingdao starting with the 1,800 teu newbuilding ASL HONG KONG on 25 September followed by ASL BAUHINIA is scheduled to join the ACX on 15 October. The 2 ships are the first 2 units of a series of 6 new Bangkok-max ships of
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202235] Freight rates tumbled last week, with the SCFI falling by 9.7% for its worst weekly drop since 2016. FE-WCNA rates led the declines, dropping by 22.9% to $3,959/feu. Latest rates offered by transpacific carriers have already breached the $3,500 mark, guaranteeing further drops in the published rate indices in the coming weeks with all tradelanes out of Asia remaining under pressure. Typhoon Hinnamnor will impact vess
Pacifica Shipping, the New Zealand domestic shipping subsidiary of Swire Shipping, has introduced a second ship to its coastal schedules. The 1,368 teu TAKUTAI CHIEF (ex LIHIR CHIEF) has joined Pacifica on 9 September 2022 at Marsden Point. The ship is taken from Swire's fleet in the South Pacific and has been switched to the New Zealand flag. It joins the 1,732 teu MOANA CHIEF that has been operated on the New Zealand coastal trades since August 2019. The 2 ships will be deployed on a fixed-d
Akkon has launched Turkey Italy Casablanca (TIC) Service recently that connects east and west Mediterranean. The service will call Germlik, Gebze, Ambarli, Izmir, Salerno, Genoa, Casablanca, Germlik with two ship, 712 teu RS Mistral, previously operated by CMA CGM and 658 teu Depe previoulsy operated by A2B. Depe has already phased in at Gemlik on 22 Auguest while RS Mistral has phased in at Evyap on 31 August. (source: Akkon)
CMA CGM 22Q2 results out after Friday close without much surprises. The reports from the other liners have pretty much painted the picture of the liner industry financial performance during 22Q2, e.g. larger liners reporting sequential earnings growth while smaller liners reporting sequential earnings drop probably a result of contract mix. CMA CGM reported sequential growth in revenue yield (revenue generate by each capacity slot in a quarter), similar to that of Maersk and Hapag Lloyd. Hence
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
Decline in spot freight rates continue to gather pace this week. SCFI overall index dropped 10% WoW to below 3000 mark, after having fallen 8% WoW the week before. Feedbacks from our channel check suggested the current spot rates available to the BCOs are way below what is being reported in SCFI. CCFI is already tracking below its level last year, meaning even including the YoY much higher contracted rates, the average freight rates including both spot and contract rates are lower YoY. Until
COSCO 22Q2 results were out overnight. Earnings have already been given in the alert last month. So the new news is dividend,HK2 or 50% payout ratio, which is ahead of the analysts estimates. Yet the stock ended down in the Hong Kong trading session. The results are all good. Top line dropped just 4% QoQ as 2% higher volume mitigate some fall in freight rates while slot costs dropped by a whopping 23%. Slot costs are the OPEX incurred in a quarter divided by operating capacity, which help make
Vietnam has grown to become the largest container market in SE Asia (excluding transhipment volumes), having overtaken the Philippines in 2007, Malaysia in 2009, Thailand in 2011 and Indonesia in 2020. Vietnam container port volumes have recovered strongly from the nationwide lockdowns in the second half of 2021 but there are also early signs of softening volumes, with Ho Chi Minh City and Cai Mep volumes down 3.9% in Jan-Jul 2022 compared to the same period last year. Northern Vietnam volumes
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202234] SCFI spot freight rates suffered their largest single week drop last week as carriers capitulated under rising market pressure to cut rates in order to protect their market share. Supply chain bottlenecks are no long providing price support as demand is clearly easing well ahead of the traditional start of the slack season in October. Port congestion eased at the end of last week, after rising to new highs in the US