China United Lines (CUL) has launched the Transpacific Express III (TPN) service, its 3rd tranpacific service. The service started on 5 May with the 1,868 teu XIN MING ZHOU 106 calling at Haiphong, Ho Chi Minh City, Nansha, Ningbo, Qingdao, Los Angeles, Oakland. A sistership, XIN MING ZHOU 108 will also join the service on 20 May at Ningbo. The port rotation of this new service is irregular but is expected to call at Qingdao, Shanghai, Ningbo, Xiamen, Yantian, Los Angeles, Oakland, Qingdao.
CMA CGM will launch a new India East Coast Express 2 (IEX 2) service connecting Singapore, Chennai, Colombo, Singapore from the end of May 2022. The service turn in 2 weeks using 2 ships of 1,700 teu starting from Singapore on 30 May 2022 with the 1,732 SONGA TIGER.
Swire Shipping has signed an agreement to acquire Westwood Shipping Lines from J-WeSco, a subsidiary of The Sumitomo Warehouse Co. on 28 April 2022 for $100m upon closing, plus an additional payment of up to $45m subject to the finalisation of Westwood's financial results for fiscal year 2022. The acquisition is subject to regulatory approval and other closing conditions and is expected to be concluded by June 2022. Swire will also acquire 4 multipurpose open hatch containerships of 2,048 teu/4
ANL/CMA CGM, COSCO and OOCL will launch a new A3 Express (A3X) service connecting Shanghai, Shekou, Brisbane and Sydney from 12 July 2022 (Launch date originally scheduled for 31 May 2022 but have been postponed). The new service will complement ANL/CMA CGM, COSCO and OOCL's existing services linking North East Asia with Australia’s east coast that is currently provided through the A3N, A3C and A3S services: A3N Rotation: Yokohama, Osaka, Busan, Qingdao, Shanghai, Kaohsiung, Melbourne, Sydney
The 22Q1 results were near high end of consensus estimate. But broadly consistent with the results from other smaller liners e.g. sequentially higher earnings driven by higher freight rates despite of lower volume.
Matson's 22Q1 operating income (aka operating profit) were up 250% YoY but down about 10%QoQ, first sequential drop since 20Q1. The sequential drop in profit was due to drop in volume, rise in bunker costs and lease expenses.
SITC reported top line after Taiwanese and OOCL. SITC confirmed an industry pattern for 22Q1 that revenue was up sequentially driven by higher freight rates despite of weaker volume.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202216] MARKET BRIEF - 2022 WEEK 16 The outlook remains weak as long as the lockdowns at key Chinese cities remain in place, with concerns emerging that the Shanghai infection rate is worsening and could spread to Beijing. Port congestion at Chinese ports remain elevated with waiting times at Ningbo rising to up to 7 days but Shanghai wait times remain at less than 2 days as cargo volumes have been significantly curtailed.
Unifeeder will launch a new feeder Mozambique India Middle East (MIM) service connecting Maputo in Mozambique to Jebel Ali and Mundra. The service will turn in 4 weeks, and will deploy 2 ships of 1,714 teu on a fortnightly frequency. The service will start from 10 May 2022 from Jebel Ali with the 1,714 teu OCEANA and will be followed 2 weeks later by the 1,714 teu ORNELLA. So far, the service has attracted 2 slot takers, with ONE taking slots since 10 May while Hapag-Lloyd will start to take s
PIL will launch a new Singapore Surabaya Express (SSE) shuttle service from 21 April 2022 connecting Singapore and Surabaya with the 1,802 teu KOTA NALURI. This service will be operated as part of a multi-carrier arrangement that shares slots on the Singapore-Surabaya route that also includes COSCO, Samudera and X-Press Feeders to offer 2-3 sailings per week on this route, using 3 other ships of 2,100 to 2,700 teu.