CMA CGM launching Caucasus Georgia Express covering Poti, Piraeus, Ambarli, Poti with a 1,118 teu MAREN. MAREN will phase in on 8 January at Piraeus. MAREN is currently being deployed in a East Med feeder service.
CMA CGM has revised the rotation of its Eagle Express X (EXX) service from October 2022, with the addition of a new call at Yantian while dropping the Honolulu westbound call. The revised rotation calls at Busan, Yantian, Ningbo, Shanghai, Los Angeles, Oakland, Dutch Harbor, Busan and now turns in 7 weeks using 7 ships of 5,095-6,350 teu.
CMA CGM will add a new westbound call at Jeddah on the INDAMEX 2 service connecting the Indian Subcontinent with the US East Coast. The revised rotation will start from 1 January 2023 can call at Port Qasim, Mundra, Nhava Sheva, Jeddah (new call from 11 Jan 2023), Norfolk, Charleston, Savannah, Port Qasim. The new Jeddah call will provide transhipment connections from Jordan, Djibouti, Kenya, Egypt with shorter transit times from Jeddah to Norfolk (16 days), Charleston (18 days) and Savannah
CMA CGM is launching another shuttle connecting Guyana and Trinidad. The new shuttle will deploy a single ship 167 teu CEDRIC K calling Georgetown and Port of Spain. CEDRIC K, currently deployed in St Martin & other islands service (Leeward 2), is phasing in on 4 Jan at Port of Spain.
RCL has teamed up with CMA CGM's intra-Asia carrier, CNC, to launch a new Yangon Cambodia Express (YGX) service that connects Singapore, Port Klang, Yangon, Port Klang, Singapore, Sihanoukville, Singapore from 3 January 2023. The service will deploy 3 ships on a 21 day rotation, starting with the 1,060 teu GREEN PACIFIC from CNC and followed by 2 more ships from RCL - the 928 teu NITHI BHUM and 1,118 teu OTANA BHUM.
CMA CGM has joined COSCO, OOCL and ONE on the East Mediterranean America (EMA) service, replacing Yang Ming as the 4th partner on the Med-USEC service. CMA CGM sells the service as the Turkey Express (TUX), with its participation commencing from 25 November 2022 with the introduction of the 4,360 teu CMA CGM LAPIS to the service. It will join 5 other ships of 4,200-5,00 teu, of which 2 are operated by COSCO and ONE, and 1 by OOCL. The service currently calls at Iskenderun, Aliaga, Ambarli, Pir
COSCO will withdraw its CENX "Prince Port Express Line" transpacific service that connects Qingdao, Shanghai, Prince Rupert, Qingdao. The last sailing was made by the 4,250 teu XIN YING KOU that departed from Qingdao on 12 November 2022. The CENX was first launched on 26 October 2021 by COSCO using 5 ships of 4,200-5,000 teu. In April 2022, OCEAN Alliance partners OOCL and CMA CGM began to participate on the service, branding it as the Pacific China North 2 (PCN2) and Great Lakes Express (GLX)
CMA CGM has announced the launch of the new MOCANA service connecting Morocco to North America. The service will be offered as a leg of the OCEAN Alliance's Columbus JAX service with the addition of 2 calls at Tanger Med on the Atlantic leg of the USEC-FE-USWC pendulum service. The revised Columbus JAX service will call at Yantian, Cai Mep, Singapore, Port Klang, Colombo, Tanger Med(new), Halifax, New York, Norfolk, Savannah, Charleston, Tanger Med(new), Port Klang, Singapore, Laem Chabang, Ca
The main carriers’ average EBIT margins fell by 3.4% from the 2Q peak of 54.3% to 50.9%. However, the gap between individual carriers are widening, with some notable drops at Wan Hai (down 13.0%), OOCL (down 8.3%), HMM (down 6.8%) and Yang Ming (down 6.1%). Carriers with a larger share on the Asia-US West Coast have suffered the largest margin erosion, with a sharper drop expected in 4Q 2022 as the rate malaise has spread to other tradelanes.
On 25 Nov, CMA CGM reported 3Q earnings which was down 7% QoQ driven by 3% QoQ lower freight rates and 9% QoQ higher OPEX. Main delta for OPEX increase are fuel and chartering expenses. CMA CGM’s group level profit margin is lower than that of the liner industry average, being affected by the less profitable logistics businesses. However, CMA CGM enjoys relatively better capital efficiency on less idle cash on its balance sheet, which helps CMA CGM deliver a Return on Equity ratio on par with