OOIL's 1Q 2023 shipping top line and breakdowns came out after Asian market on Thursday (6 Apr), being the first container liner to provide 1Q 2023 top line report. Revenue dropped 31% QoQ on average freight rate fall, which is in line with CCFI's 33% fall during the same period. Overall 1Q 2023 volume was flat QoQ. Transpacific volume being up 11% QoQ suggested OOCL, the shipping liner of OOIL, may have gained market share during past quarter as the US import from Asia was down during 1Q 202
Russian carrier Modul has launched a new Modul America Russia Express (MAREX) service that connects St Petersburg with Paranagua and Santos. The service started on 16 February 2023 with the 1,735 teu mpp vessel HUANGHAI STRUGGLER from St Petersburg and arrived at Paranagua on 19 March and Santos on 25 March. Modul also operates the Modul India Russia Express (MIREX) service that was launched in September 2022 connecting St Petersburg with Mundra, Nhava Sheva and Jebel Ali using 2 ships - the 1
X-Press Feeders will add a new call at Cork on its Bilbao Gijon X-Press (BGX) replacing the current call at Vigo and switch the Cork call to after Southampton ahead of Dublin and Belfast on its Irish Sea X-Press 3 (ISX3) service. Both of these changes will be effective from 18 April 2023. The revised BGX rotation will be Rotterdam, Dunkirk, Gijon, Bilbao, Cork, Rotterdam starting with the 1,036 teu X-PRESS ELBE at Cork on 21 April. Bilbao Gijon X-Press (BGX) rotationThe revised ISX3 rotation
X-Press Feeders will add new calls at Gdansk and Gdynia on its Intra Baltic X-Press (IBX) service from April 2023. The revised rotation will turn in 2 weeks and call Rotterdam, Gdansk, Gdynia, Klaipeda, Riga, Rotterdam starting with the 917 teu X-PRESS GODAVARI at Gdansk on 6 April and the 809 teu X-PRESS MULHACEN at Gdansk on 13 April.
Register Free Trial [https://www.linerlytica.com/register/?utm_source=W202314] Market sentiment turned positive for the first time since September 2022, with rising conviction around a mid-April rate increase on some key routes. Carriers are making a last-ditch effort to raise spot rates on the Transpacific ahead of the 1st May contract season with rates expected to rise by $500-600/feu. The SCFI rebounded marginally last week on improved rates in the Middle East and Latin America on the back
COSCO reported after Hong Kong market close last Thursday (30 Mar). COSCO’s liner EBIT dropped only 32% YoY, which is much better most of the liner peers except for Maersk and Hapag Lloyd which have more favorable mix e.g. 2022-2023 contracts and exposure to Trans-Atlantic trade. Part of the reason that COSCO outperform probably was due to the large provision made during 4Q 2021, which raised COSCO’s non-cash slot costs and hence the payables as reflected in the work capital balance.
China's March PMI New Export Order came out as 50.4 in the morning session of 31 March, suggesting Chinese export order may have seen marginal sequential growth in March comparing to February. But March's 50.4 comparing to February's 52.4 means growth decelerated over the past month. Softness of exports from China could be a combination of the market share losses and overall soft demand in the western hemisphere. In terms of container shipment volume, China has been losing market share to the
MSC will add a new fortnightly call at Jacksonville to its ScanBaltic to USA service starting from 25 April 2023. The revised rotation of the ScanBaltic to USA service will be Klaipeda, Gdynia, Gothenburg, Bremerhaven, Felixstowe, Antwerp, Le Havre, New York, Philadelphia, Norfolk, Jacksonville (alternate weeks), Klaipeda. The service currently deploys 5 ships of 2,700 to 5,000 teu, with the new rotation expected to add 1 more week to the rotation.
MSC has extended the KIWI Express service with a new call at Laem Chabang added on 28 March 2023. The revised KIWI Express rotation will call at Tanjung Pelepas, Singapore, Laem Chabang, Singapore, Jakarta, Brisbane, Sydney, Auckland, Nelson, Wellington, Lyttelton, Port Chalmers, Brisbane, Tanjung Pelepas. The revised rotation will add 1 more week to the rotation and will henceforth turn in 10 weeks using up to 10 ships of 2,700 to 4,400 teu.
Zim/GSL's Thailand Fremantle Express (TFX) service will be extended with 3 new port calls added at Nansha, Yantian and Brisbane. The revised TFX will call Port Klang, Laem Chabang, Ho Chi Minh City, Nansha, Yantian, Sydney, Brisbane, Melbourne, Fremantle, Port Klang from April 2023 with the first call at Yantian made on 3 April with the 2,554 teu ALS VESTA. The TFX was first launched at the end of December 2022 and originally deployed 5 ships of 1,700-2,700 teu on a 6 week rotation. The extend