Market Pulse Week 48: Zim reported net profits of $1.13 Bn and EBIT of $1.24 Bn for the 3rd quarter of 2024, concluding the reporting season for the publicly listed carriers. Zim’s EBIT margin of 44.7% puts it in 4th place behind EMC, HMM and Yang Ming but Zim delivered the highest annualized RoE of 115% in Q3 2024 - twice that of the second-best performer EMC and more than 4 times more than the industry average ROE of 25%. Market Pulse Week 47: Asian carriers have outperformed their European p
Hapag-Lloyd has merged its South America – Africa Triangle Service (SAT) with the West Europe-West Africa (WWA) into an extended butterfly pattern covering North Europe-Africa-South America-Africa-North Europe starting from June 2024. The integrated SAT/WWA service will call at Paranagua, Santos, Navegantes, Luanda, Durban, Port Elizabeth, Luanda, Tangier Med, Rotterdam, Antwerp, Le Havre, Lisbon, Tangier Med, Tema, Pointe Noire, Luanda, Paranagua turning in 7 to 8 weeks deploying up to 8 ships
CMA CGM and Hapag-Lloyd will terminate their jointly operated India-US East Coast Indamex and Indamex 2 services from August 2024 and replace them with separate services that will be operated independently by the two carriers. Hapag-Lloyd has announced a new TPI (Indamex) service that will call at Port Qasim, Nhava Sheva, Mundra, New York, Norfolk, Savannah, Charleston, Port Qasim from 8 August 2024 with the 9,274 teu TORRENTE. The service will turn in 11 weeks and will be operated independentl
Hapag-Lloyd will relaunch its standalone China-Germany Express (CGX) peak season service from 16 June 2024. The revised CGX will take the longer Cape route calling at Yantian, Singapore, Tema, Wilhelmshaven, Antwerp, Yantian with the addition of a new call at Tema in Ghana that will offer relay connections to other West African ports. The new CGX will turn in 12 weeks using up to 12 ships of 2,800 to 9,300 teu, starting at Yantian on 16 June with the 3,398 teu EXPRESS ARGENTINA. Hapag-Lloyd f
EBIT turned around in 1Q 2024 from 4Q 2023 losses on sequentially higher freight rates. Management lifted lower end of the EBIT guidance from negative $1bn to breakeven while keeping the upper end of the guidance unchanged at $1bn.
THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) will revise the rotation of Asia-Pacific Northwest transpacific PN2 service following the reinstatement of the PN3 service on 19 April 2024. The new rotations of the affected services are as follows:- PN2 (revised from 10 April 2024) : Singapore, Laem Chabang, Cai Mep, Yantian, Tacoma, Vancouver, Tokyo, Kobe, Singapore. The service will turn in 9 weeks using 9 ships of 10,000 to 12,700 teu on a shortened rotation with eastbound calls
THE Alliance carriers (Hapag-Lloyd, HMM, ONE and Yang Ming) has announced the postponement of the Asia-US East Coast 4 (EC4/Suez1) service relaunch that was originally scheduled from 15 April 2024 after a 6 month suspension. The EC4/Suez1 was to deploy up to 13 ships of 13,000-14,000 teu 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
Hapag Lloyd reported EBIT losses of $251m for the 4th quarter of 2023, with a muted earnings guidance for 2024 despite the expected earnings upside after the rebound in freight rates following the Red Sea crisis. Historically, Hapag-Lloyd’s earnings guidance have been overly conservative as out of the 9 previous guidance provided since 2015, Hapag Lloyd delivered better-than-expected results 6 times and was in-line 2 times.
The new Norcoast cabotage service in Brazil was launched on 6 February 2024 at Santos. The Norcoast service will connect Santos, Paranagua, Suape, Pecem, Manaus, Pecem, Suape, Santos using a total of 4 ships starting with the NC BRISA on 6 February, NC BRUMA on 13 February, NC BREDA from 20 February and the NC BRAVO from 27 February. The 4 ships were all former NileDutch ships of 3,508 teu built in 2014/2015 that were taken over by Hapag-Lloyd in 2021. These ships have been reflagged to the Braz
Hapag-Lloyd has launched an ad hoc Jeddah Express (JDX) service connecting Tanger Med, Damietta, Jeddah, Damietta, Tanger Med to facilitate cargo connections to Jeddah that are affected by the Red Sea blockade since December 2023. The service will connect to Jeddah via the Suez Canal from the north, allowing it to avoid the Gulf of Aden. The 4,252 teu SEASPAN HAMBURG has been deployed on the JDX since 31 December 2023, with the 2,518 teu ZHONG GU XIONG AN joining the service on 29 January. The