MSC has removed its FE-USEC connections on the Santana service with calls at New York omitted from April 2024. The last New York call on the service was made by the 15,264 teu MSC MARTINA MARIA on 29 March 2024 with subsequent sailings on the Santana shortened to a revised Far East-Mexico-Panama-Dominican Republic service calling at Yantian, Ningbo, Shanghai, Busan, Manzanillo (Mexico), Cristobal, Colon (Coco Solo), Caucedo, Yantian. The revised Santana turns in 11 weeks using up to 11 ships
MSC will launch a new Asia-Mexico West Coast (Mexicas) service calling at Qingdao, Ningbo, Shanghai, Busan, Manzanillo (Mex), Lazaro Cardenas, Qingdao from 15 May 2024. The Mexicas service will turn in 6 to 7 weeks and will deploy ships of 4,000-7,000 teu starting with the 6,492 teu MSC APOLLO at Qingdao on 15 May 2024. MSC Asia-Mexico West Coast (Mexicas) service
Maersk’s Ocean segment reported negative $161m EBIT for 1Q 2024, lagging well behind its peers which had all turned in positive results. Maersk fared poorly on its operating metrics with OPEX rising faster than its peers while volumes grew at a slower rate, resulting in smaller reductions in unit OPEX. Maersk Line also reported lower sequential average revenue gains compared to 4Q 2023, due to its higher contract mix and aggressive spot rate pricing. Maersk’s management raised the lower end of
HMM and SM Line will exchange slots on the transpacific PSX and CPX services starting from June 2024. The 2 South Korean carriers swap 300 teu each week on each service and the agreement will expire on 30 April 2025 with no automatic renewals. The PSX service calls at Shanghai, Kwangyang, Busan, Los Angeles, Oakland, Busan, Kwangyang, Incheon, Shanghai and is operated by HMM using 7 ships of 8,500 to 10,000 teu with an upgrade to 13,700 teu ships planned later this year. ONE, Hapag-Lloyd and Ya
COSCO has reached an agreement with ONE to purchase slots on the West India North America Express (WIN) service from 16 May 2024. COSCO will market the service as the India East Coast Express 2 (IPE2) and joins HMM as slot buyer on the new service that it markets as the India America Express (IAX), with each carrier taking 500 teu and 1,700 teu respectively per week, including 5o and 170 reefer slots each. ONE launched the service on 9 May 2024 on an extended routing through the Cape of Good
CMA CGM will launch a new M2X Mexico Express service calling at Xingang, Qingdao, Busan, Ensenada, Manzanillo, Lazaro Cardenas, Yokohama, Busan, Xingang from 11 May 2024. The M2X will turn in 56 days using 8 ships of 4,200 teu starting from 11 May 2024 with the 4,253 teu ANL WANGARATTA at Busan. The service will compete directly with COSCO/OOCL's newly launched WSA5/TLP5 service that will start on 6 May 2024 calling at Busan, Dalian, Ningbo, Shanghai, Qingdao, Ensenada, Manzanillo, Ensenanda,
CMA CGM will launch a new Karibu Express service connecting Jebel Ali, Mombasa, Longoni, Pointe Des Galets, Mombasa, Mogadishu, Jebel Ali. The service will turn in 42 days using 6 ships of 1,570 to 1,850 teu starting with the 1,853 teu CMA CGM KAILAS at Jebel Ali on 12 May 2024. Port rotation of the CMA CGM Karibu service
Unifeeder, China United Lines (CUL), Milaha and Sinokor will jointly launch a new China-Middle East Gulf Express (CGE/CGX/MGX/SGX1) service from May 2024 calling at Shanghai, Ningbo, Shekou, Jebel Ali, Shanghai. The CGE/CGX/MGX/SGX1 will turn in 35 days and deploys 5 ships of 2,400-3,000 teu starting from 20 May 2024. Unifeeder will operate 2 ships (the 3,006 teu CELCIUS ESSEN and CELSIUS EINDHOVEN), while CUL, Milaha and Sinokor will operate one ship each (the 2,518 teu ZHONG GU YING KOU, 2,8
The first carriers to report 1Q 2024 financial results showed strong sequential improvements in earnings driven by higher average freight rates driven by the Red Sea crisis. However, earnings are down on a YoY basis, with carriers that have higher contract ratios reporting bigger YoY drop in earnings. Carriers’ top line revenue tracked below CCFI due in part to lagging revenue recognition with lower contracted rates from last year dragging down carriers’ average revenue gains. Liftings grew acr
Hong Kong, 1 May 2024 - BANDS Financial and Linerlytica launch the first virtual container freight futures trading competition exclusively for companies and executives involved in container shipping's Asia-Europe route. The competition is open to 20 companies and 200 individuals in separate company and individual leagues. Contestants receive virtual money to trade CoFIF, and the 3 contestants from each league with the highest equity at the end of the 6-month competition period will win the 2024