CMA CGM and COSCO will revise its joint service on the trade between Brazil, the Caribbeans and the US Gulf Coast with the new Brazil Express (BZX) service that will deploy 9 ships of 3,000 teu to 3,600 teu on a 63 day round trip. CMA CGM will deploy 8 of the 9 ships in this new service that is scheduled to start from 22 February from Navegantes with the 3,091 teu CMA CGM PARANAGUA. The revised service will call at Navegantes, Paranagua, Santos, Rio de Janeiro/Salvador (alternative calls), Cart
Maersk will launch a new TP28 transpacific service connecting Cai Mep, Yantian, Ningbo, Shanghai, Houston, Norfolk, Cai Mep using 11 ships of 4,500 teu. The new service is scheduled to start on 23 March 2022 with the 4,530 teu MAERSK WALLIS. The service will take an eastbound round-the-world route, using the Panama Canal from Asia and returning via the Suez Canal. Maersk will also concurrently revise its current TP20 service with the Cai Mep call replaced by a new call at Jakarta, while the ves
OOIL is likely to report net profit over $5bn for 2H21 and $8.3bn for FY21, in our estimates, beating the average consensus estimates. OOIL reported $2.8bn as net profit for 1H21. In 2H21, revenue increased $2.7bn HoH, driven primarily by the increase in average freight rates...
China United Lines (CUL) have launched a bid for an initial public offering (IPO) on the Hong Kong stock exchange. It filed an initial application on 31 January 2022, with proceeds from the IPO to be used to fund new ships and further overseas expansion. CUL was established in 2005 and is currently based in Shanghai. The company is controlled by Raymond Chen Hong Hui (through interests held by his spouse) and is currently 80% owned by Chen and 20% by Guangzhou Port. It reported total revenues
ZIM will extend its new Zim Med ISC (ZMI) service to cover North Europe from March 2022. The serivce was first launched in December 2021 and calls at Mundra, Nhava Sheva, Colombo, Haifa, Mersin, Ambarli, Mundra using 4 panamax ships of 4,250-4,310 teu. The move follows the termination of ZIM's current cooperation with MSC on the North Europe-East Med trade in March 2022. The 2 carriers jointly operates the NE1/Israel Express service that calls at Felixstowe, Hamburg, Rotterdam, Antwerp, Le Havr
ZIM will relaunch its standalone ZIM Med Pacific (ZMP) service in April 2022 after a 3 year absence as the ZIM/2M partnership arrangement on the Asia-East Med and Asia-PNW will be terminated. ZIM will revive ZMP that was first launched in April 2017 as part of ZIM's network revamp at that time, deploying 15 ships of 4,200 teu to 5,900 teu to cover the Med-Asia-US Pacific Northwest route. The original ZMP was withdrawn in March 2019 after ZIM started its strategic cooperation with the 2M (Maer
The transpacific extra loader service operated by Pasha exclusively for US warehouse retailer Costco will be upgraded to a regular service later this year. The Pasha/Costco service was launched on 12 August 2021 with the 2,741 teu POSEN, followed by the 2,741 teu AS CARLOTTA on 1 September 2021 and 2,194 teu QUEEN ESTHER on 3 October 2021. The 3 ships were chartered by Pasha on initial periods of 12 months at between $70,ooo and $80,000 per day. The service currently runs on an irregular sche
Zim will launch a new Thailand Yangon Express (TYX) service on 7 January 2022. The service will call at Singapore, Port Klang, Thilawa, Yangon, Port Klang, Singapore on a
Zim will launch a new weekly Yangon Star (YGS) service that will connect Nansha, Port Klang, Yangon, Port Klang, Nansha using three ships of 1,100 teu. The first sailing is scheduled on 26 February from Nansha with the 1,134 teu ASIATIC KING. The service will allow connections to and from Yangon with transhipment at Nansha and Port Klang.
The Korean Fair Trade Commission has imposed a fine of KRW 96.23B on 23 carriers operating on the South Korea-Southeast Asia route. The decision and corrective order were announced on 18 January 2022 and pertains to price fixing allegations against the carriers on the SE Asia route between 2003 and 2018 through the IADA (Intra-Asia Discussion Agreement) and the Korea-Southeast Asian Shipping Association (Dongjeonghyeop). The FTC investigation found 120 cases of price setting conducted through a