ZIM has slashed its 4Q 2022 EBIT earnings forecast to $440m from $740m, compared to $1,554m in 3Q 2022 due to falling freight rates and weaker liftings. Although ZIM has emphasized its commercial and operational agility, this will be tested over the next 2 years as it takes delivery of more than 50 newbuildings and committed vessel charters that will raise its operated capacity by some 70% (before charter redeliveries). Zim’s heavy reliance on chartered tonnage since its financial restructurin
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202246] Freight rates slipped further last week with weakening demand continuing to pull down capacity utilisation on the Transpacific and Asia-North Europe routes. Rate pressure has shifted to the Asia-Europe trades with carriers still unwilling to remove any capacity on the route as the the temporary blank sailings in October have mostly resumed their regular sailings. The FE-USEC routes are also under pressure, forcing Zi
ARRC Line has launched a new service connecting Russia and India. The service started on 3 September 2022 with the 1,829 teu general cargo vessel ATLANTIC NAVIGATOR II. The service connects St Petersburg and Nhava Sheva with a turnaround of 55 days. ARRC Line has also added a second ship, the 749 teu LIDER HALIL that made a Novorossiysk, Mersin, Nhava Sheva trip on 25 October. ARRC Line operates regular services connecting St Petersburg with Philadelphia and Baltimore on the US East Coast as
Jin Jiang Shipping has launched a new butterfly service that connects Dalian with the Kanto and Kansai ports in Japan. The new service is branded as the Dalian-Japan Hanshin/Dalian-Japan Kanto (DJH/DJK) and will call Dalian, Osaka, Kobe, Dalian, Tokyo, Yokohama, Nagoya, Dalian. The service started on 5 November 2022 and deploys 3 ships - the 1,118 teu JJ SUN with the 698 teu HAI SU 6 and HAI SU 7
CNC Line, the intra-Asian subsidiary of CMA CGM, has launched a new China Southeast Asia (CSE1) service that connects Dalian, Incheon, Ningbo, Shanghai, Laem Chabang, Bangkok, Laem Chabang, Manila, Quinhon, Chu Lai, Dalian The service started on 11 October 2022 with the 1,756 teu CNC PLUTO from Dalian. 4 ships of 1,012-1,952 teu are deployed on this service.
Zim, Maersk and MSC will suspend their jointly operated ZSE/TP23/Liberty service that currently covers Tanjung Pelepas, Cai Mep, Yantian, Charleston, Savannah, New York (intermittently omitted), Tanjung Pelepas. The last sailing will depart from Tanjung Pelepas on 23 November 2022 with the 5,936 teu IAN H. The service currently deploys 10 ships of 5,400-6,600 teu on a 13 week rotation, including 9 ships operated by Zim and 1 ship by Maersk. The suspension of this service will remove an average
Maersk and Global Feeder Shipping (GFS) will launch a new Intra ME/ISC service that will cover Jebel Ali, Dammam, Jebel Ali, Mundra, Pipavav, Jebel Ali with two ships, the 1,740 teu BIG DOG and 1,613 teu GFS RANNA (ex HERA). BIG DOG will phase in on 29 November 2022 at Jebel Ali while GFS RANNA, coming out of drydock, will phase in also at Jebel Ali on 6 December 2022. Maersk brands this new service as the Shaheen Express. GFS has not yet released details on the new service. Shaheen Express po
ZIM reported before US market open on 16 Nov. Net profit was down 13% QoQ on sequentially lower freight rates, lower volume and higher costs particularly in chartering expenses. In the earnings call, the management mentioned that they have lower the signed freight rates in the existing contracts.
COSCO's intra-European feeder arm, Diamond Line, has revised its Turkey Black Sea Express 1 (TBX1) serrvice with a new call at Batumi in Georgia while the previous call at Poti is dropped. The revised TBX1 connects Piraeus, Ambarli, Batumi, Constantza, Varna, Piraeus, starting from 19 October 2022 with the 1,296 teu AS FATIMA that will be operated together with the 1,267 teu CONTSHIP JET on a 14 day rotation. The service made its maiden call at Batumi International Container Terminal (BICT) op
Walmart's 3Q 2022 sales performance showed declining general merchandise sales while inventory levels remain high, providing a cautious near term outlook for container volume. Sales increased 9% driven primarily by grocery items and partly by inflation but general merchandises were down a low single digit percentage, according to Walmart's announcement on 16 Nov 2022. Walmart's inventory level was up 8% QoQ and 13% YoY. The elevated inventory to sales ratio since 21Q3 suggests that de-stockin