Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202218] Freight rates continued to fall last week but the pace of reductions have slowed with lower activity over the Labour Day holidays. Further rate reductions are expected despite attempts by some transpacific carriers to push for rate increases on 15 May and 1 June, with bookings too weak to support the rate hikes. Charter rates have also weakened in the face of softening demand, with both carriers and shipowners hoping
RCL will launch a new RCL Malaysia-Indonesia 3 (RMI3) service from May 2022 to connect Surabaya, Singapore, Port Klang, Penang, Port Klang, Singapore, Surabaya. The service will deploy the 928 teu NITHI BHUM on 17 May 2022 and the 1,108 teu MITRA BHUM on 24 May 2022 on the new service that has a 14 day turnaround.
CMA CGM will be revising its MEDWAX, EURAF 3 and WAZZAN services that connects the Med hubs of Algeciras and Tanger Med with West Africa. The new Mediterranean West Africa Express (MEDWAX) will turn in 28 days with 4 ships of 2,500-2,800 teu calling at Algeciras, Tanger, Dakar, Conakry, Freetown, San Pedro, Algeciras starting with the 2,783 teu ATLANTIC DISCOVERER on 7 May 2022. It replaces the current MEDWAX that currently uses smaller ships of 1,300-1,700 teu, with a new call at Freetown adde
The active containership fleet rebounded to 15.8m teu, 61% of total fleet, as at 1 May due to the improvement in the port congestion situation in China and the US over the past week, with less ships waiting at anchorages.
ONE and Evergreen will exchange slots on 2 of their existing transpacific services that are operated within their respective THE Alliance and Ocean Alliance arrangements. The slot arrangement is effective from June 2022 and involves 150 teu per week on a roundtrip basis (including 11 reefer plugs) on the following services: Evergreen/Ocean Alliance : HTW service (also known as PSW7/Guangdong Express(GEX)/AAS3/PCS2) calling at Taipei, Xiamen, Hong Kong, Yantian, Los Angeles, Oakland, Taipei cu
Global port congestion have eased over the past week, with improvements in China and North America helping to bring overall global congestion to 12.6% of the global fleet compared to a peak of 15.0% at the end of March. In China, the berthing delays at Ningbo and Shanghai is improving...
Maersk contract rates are up $1400/FFE YoY, which, in our estimates, contribute $10bn YoY additional revenue/profit. Fuel costs inflation amount to $1.5-3.5bn. Acceleration in average freight rate increase may be unique to Maersk and help close its gap relative to peers on EBIT margin.
The exceptional unit costs rise reported by OOIL for 21H2 shocked many analysts. What may have gone unnoticed are the oversized provisions booked not only for its commitment to Long Beach Terminal but also other OPEX and employee compensations
Cosco’s relatively depressed earnings for 21Q4 and 22Q1 are due to the substantial provisions booked over the past two quarters. By end of 22Q1, Cosco’s short term payables account has ballooned to Rmb69bn, which is a significant amount for Cosco’s 22Q1 operating expense was only Rmb67bn.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202217] The last week of April failed to lift rates, despite the impending contract rate increases on the transpacific routes with higher rates taking effect from 1 May. Asia to US West Coast contracts will rise to an average of $9,000/feu while US East Coast contracts will increase to $11,000/feu which is higher than current spot rates of $7,800 and $10,600 respectively. With most of the Asian markets closed for the Labour