CMA CGM recorded a 34% QoQ and 83% YoY decline in net profits to $1.3 Bn in the second quarter of 2023 on weaker freight rates despite improved liftings that saw sequential volume increases that confirmed the trend shown in our high frequency data on weekly capacity and utilization. But CMA CGM recorded a larger QoQ sequential drop in its average revenue per teu compared to the CCFI due to contract mix and Trans-Atlantic exposure relative to CCFI. Trans-Atlantic head haul freight rates have fall
Taiwanese liners' January revenue continued its slide. In aggregate these 3 listed liners' revenue at about $1.6bn in January was down 14% MoM and 65% YoY. The 14% sequential fall in January was similar to the pace of fall in December. This year's Lunar New Year public holidays went from 21 to 27 January in China. Many factories in China closed ahead of the official public holidays and resumed production later than the official holiday end, which may have negatively impact container shipment v
The four carrier partnership of ANL (CMA CGM), Hapag-Lloyd, Maersk and ONE on the SE Asia-Australia route will revise their 3 existing services from March 2023. The first service, branded respectively as the ANL 'AAX-S' (changed from AAX1), Hapag-Lloyd 'SEA', Maersk 'Greater Australia Connect' (GAC) (changed from Cobra) and ONE 'AU1', will call at Port Klang, Tanjung Pelepas, Singapore, Melbourne, Sydney, Adelaide, Fremantle, Port Kelang from 9 March 2023 with the 8,400 teu MAERSK STRALSUND .