COSCO's intra-European feeder operator Diamond Line has launched a new Piraeus-Algiers-El Dekheila (PAE) service in cooperation with Tarros from 28 June 2024 The PAE calls at Piraeus, Algiers, Alexandria, Piraeus, turning in 14 days using 2 ships of 900 teu, with each partner operating 1 ship each. The service was launched on 28 June 2024 from Alexandria with the 925 teu CONTSHIP IVY from COSCO and was followed by the 990 teu BF TROUT from Tarros on 5 July 2024.
SITC has revised its recently launch Malaysia-India-Myanmar (MIM) service with an extended rotation to China to call at Qingdao, Shanghai, Ningbo, Shekou, Chennai, Haldia, Port Klang, Kuantan, Qingdao. The extension of the service to China will allow SITC to omit the westbound Port Klang call that has been affected by congestion. The Malaysia-India-Myanmar (MIM) service will retain its old name even though it will no longer serve Myanmar directly. The previous call at Yangon is dropped in favou
SITC has launched a new Yangon Chennai Service (YCS) calling at Yangon, Chennai, Yangon from 12 August 2024. The service turns in around 8 to 10 days amd deploys the 1,032 teu SITC HAIPHONG that joined the service at Chennai on 12 August 2024.
CMA CGM will launch a new Helsingborg Express (HLX) service connecting Antwerp, Tilbury, Helsingborg, Antwerp. The HLX service will turn in 7 days and will deploy the 508 teu RAGNA from 14 August 2024. Port rotation of the new Helsingborg Express (HLX) feeder service
MSC will relaunch the North Asia-ANZ Wallaby service connecting Hong Kong, Yantian, Xiamen, Shanghai, Ningbo, Sydney, Melbourne, Auckland, Bluff, Lyttelton, Wellington, Napier, Tauranga, Melbourne, Brisbane, Hong Kong. The service will start from 19 August with the 2,732 teu MSC TANIA at Hong Kong. The service is expected to turn in 10 weeks and will deploy 10 ships of 2,700 to 5,000 teu. Port rotation of the new Wallaby service operated by MSCMSC will withdraw the Capricorn and Kiwi service
MSC will launch a new China-Middle East Gulf Clanga service calling at Shanghai, Ningbo, Shekou, Singapore, Dammam, Shanghai from the end of August 2024. The service will turn in 6 weeks using 6 ships of 2,500 to 5,000 teu starting with the 4,713 teu ZHONG AN XIN HUA YUAN at Shanghai on 30 August 2024. Port rotation of the new MSC Clanga serviceFollowing the launch of the Clanga service, MSC will omit the Dammam call on their existing New Falcon service with a new call at Nansha added. The rev
Maersk's liner business turned around in 2Q 2024 after three quarters of negative EBIT but barely got much benefits from the soaring spot freight rates during the 2Q 2024. Average freight rates earned by Maersk up only 1% YoY and 7% QoQ against CCFI's 53% YoY and 12% QoQ. Maersk's liner EBITDA margin at 16.8%, much lower than CMA CGM's 23.9% and ONE's 28.9% in 2Q 2024. So despite of the Maersk's larger fleet, Maersk's EBITDA is 35% below that of CMA CGM's in 2Q 2024. All these three liners that
MSC’s planned newbuilding orders will bring its overall fleet to 7.5m TEU by the end of 2028 as it continues to widen the gap with their main rivals. The latest MSC orders is expected to include 10 units of 21,000 teu at Hantong, as well as a series of 12,000 teu units at Rongsheng and 11,000 teu units at Penglai Jinglu to be delivered from 2027. Although CMA CGM’s new vessel delivery pipeline will allow it to surpass Maersk by 2027, it will still trail MSC by more than 2m teu by the end of 2028
ONE EBIT nearly doubled YoY and tripled QoQ in 2Q 2024 on reduction of unit costs despite sub-market freight rates hike achieved. ONE’s unit revenue (total revenue over total volume) was up only 1% YoY and 4% QoQ against CCFI’s 53% YoY and 12 % QoQ. ONE lifted FY2024 earning guidance from $1.0bn to $2.7bn, with earnings expected to nearly double QoQ to $1.5bn in 2Q FY2024 (Jul-Sep) before dropping in 2H FY2024 by 78% HoH.
Charter market activity has slowed down with very no new fixtures in the large sizes of above 4,000 teu in the past 2 weeks, with all of the recent charter deliveries in the past week concluded several weeks in advance. CMA CGM took the 7,092 teu KOTA CALLAO on 4 August on a short term fixture for a China-Panama trip at a reported rate of around $105,000 in a deal concluded in early June. Demand has cooled noticeably since then, but with very limited vessel availability the charter rate indices