THE Alliance will reinstate the Asia-US East Coast 4 (EC4/SUEZ1) service from 15 April 2024 after a 6 month suspension. The EC4 was withdrawn in November 2024 for the winter slack season and will return with a new rotation calling at Kaohsiung, Xiamen, Yantian, Cai Mep, Singapore, Norfolk, Savannah, Charleston, New York, Singapore, Kaohsiung with the former call at Hong Kong omitted and divert from the Suez to the Cape route on both its eastbound and westbound voyages. The new EC4 service wil
THE Alliance will reinstate the FE-US West Coast Pacific North 3 (PN3) service from 19 April 2024. The service was withdrawn in October 2023 for the slack winter season but will return after a 7 month break. The new PN3 will call at Hong Kong, Haiphong, Yantian, Shanghai, Busan, Vancouver, Tacoma, Busan, Kaohsiung, Hong Kong retaking the rotation of the former PN3 service with the addition of a new call at Haiphong. The first sailing is scheduled at Hong Kong on 19 April 2024 with the 13,788 t
COSCO and Evergreen have separately launched emergency loaders to connect North Europe with the Med port of Piraeus to evacuate containers and provide ad hoc connections for cargo to and from the Med region that have been affected by the diversions of the OCEAN Alliance's Asia-North Europe services to the Cape route. COSCO has deployed the 13,092 teu COSCO DEVELOPMENT on the Zeebrugge,Piraeus,Zeebrugge shuttle run since 4 February 2024 on a monthly service. Evergreen has also deployed the 2,88
Roro specialist CLdN has launched a new Rotterdam-Ireland Lolo service from 18 March 2024 calling at Rotterdam, Dublin, Cork, Rotterdam. The new service will provide 2 sailings per week using 2 newly chartered 962 teu ships - ANDROMEDA J and PAVO J. The service will call CLdN's newly acquired Distriport terminal in Rotterdam with sailings departing Rotterda every Thursday and Saturday to complement CLdN's existing Roro services between the Netherlands, UK and Ireland.
The new OCEAN Alliance Day 8 network starting in April 2024 will drop one of the 7 Far East-Europe services that they current operate. The affected service is the Far East North Europe NEU3 service (branded respectively by COSCO/OOCL, CMA CGM and Evergreen as the AEU7/LL3/FAL7/NE7) calling at Xiamen, Nansha, Hong Kong, Yantian, Cai Mep, Singapore, Zeebrugge, Hamburg, Rotterdam, Port Klang, Singapore, Xiamen with the wayport call at Piraeus omitted since January due to the diversion of the servic
Peak Shipping, the Xiamen based affiliate of Summit Shipping, has launched a new China-Yemen Express (CYE) service connecting Ningbo, Shekou, Port Klang, Aden, Djibouti with the 713 teu JI ZHE 2 from 28 January 2024. Summit Shipping Line was established in Singapore in October 2019 as a subsidiary of the Xiamen Port Group. It operated initially as a NVOCC (Non-Vessel Owning Common Carrier) using slots from common feeder and linehaul operators in the Intra-Asia and South Asia routes. It began it
ONE will launch a new Scandinavia Baltic Express (SBX) from 19 May 2024 calling at Wilhelmshaven, Hamburg, Fredericia, Gdynia, Wilhelmshaven. The service will turn on a weekly basis using one ship that will be named closer to the launch date in May. In conjunection to the SBX launch, ONE will also revise the rotation of its IBESCO/Iberia-Europe-Scandinavia (IBC) service with the current call at Gdynia dropped while adding new calls at Copenhagen and Helsingborg. Starting from 19 May 2024, the
ZIM reported FY2013 results before Market on 13 March 2024. The $147m net loss for 4Q 2023 was better than the average consensus estimates on Bloomberg. The capital market was disappointed, anyhow, on a set of cautious guidance despite of the recent rebound in the spot rates. For 2024, management guided -$300mn to +$300mn for EBIT; and $850mn to $1,450 mn for EBITDA. In other words, depreciation guidance is $1,150mn, which means the depreciation expenses for 2024 will not drop much against the
The Red Sea disruptions continue to drive charter rates, with average charter rates rising by a further 3% last week with healthy gains across all size segments. The larger sizes continue to enjoy the biggest gains, with vessel availability failing to match demand. Activity in the panamax segment remains active, with last done rates rising above $25,000 for the first time in 9 months. The availability of ships larger than 5,000 teu remains very limited, with demand still uncovered which will c
Conflicting signals abound in a market looking for fresh directions, with freight rates continuing to slide as the SCFI dropped by 4.7% last week bringing the cumulative decline to 15.8% since its January peak. However, charter rates continue to firm while second hand vessel prices are still rising as demand for tonnage remains high. The recent freight rate correction has not deterred new entrants, with another Chinese carrier set to launch a transpacific service in March. Total containership