The timeline of how Maersk was outmaneuvered by MSC culminating in the announcement on 25 January 2023 that the 2 carriers will terminate their 2M partnership in January 2025. Maersk and MSC capacity operated 2010-2025While Maersk dithered through strategic mis-steps including high profile flops such as Daily Maersk and TradeLens, MSC was resolute in building scale in its shipping business. Maersk had triggered the capacity race in 2011 when it ordered the first Triple-E ships but has been bea
Services operated jointly i.e. by alliances usually enjoyed better utilization than the services operated independently by a single liner. Since 2020, utilization for alliance services have been 6% points better than the same for independent services. The utilization for the independently operated services tend to be more volatile. Wider sales network helps fill vessel capacity, we figure. The utilization gap narrowed since December 2020 was just due to diversion of capacity buildup where the
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 .
Container liners Q4 earnings report will likely be a turning point of this earning cycle, underlined by the 45% QoQ drop in average CCFI index. Listed Taiwanese liners have released their revenue report in the second week of January. The up coming liner revenue or earning reports IF they follow last year's release schedule would be as follows (last year release date): 1. Maersk preliminary results (14 Jan); 2. Matson profit alert (19 Jan); 3. OOCL operating updates (24 Jan); 4. COSCO prof
Sealand Asia will launch a new HP3 service connecting Busan, Kaohsiung and Nansha with Haiphong as part of a revamp of its existing PH9 service with the South China to Cebu and Cagayan de Oro leg that will be incorporated in the new HP3. The HP3 start from 16 December 2022 and will call Busan, Kaohsiung, Nansha, Haiphong, Yantian, Hong Kong, Cagayan de Oro, Cebu, Hong Kong, Nansha, Kaohsiung, Busan. The service turns in 4 weeks and will deploy the 1,756 teu NORDTIGER, 1,740 teu ASIAN ACE, 1,774
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.
Zim, Maersk and MSC will suspend their jointly operated ZSE/TP23/Liberty service that currently covers Tanjung Pelepas, Cai Mep, Yantian, Charleston, Savannah, New York (intermittently omitted), Tanjung Pelepas. The last sailing will depart from Tanjung Pelepas on 23 November 2022 with the 5,936 teu IAN H. The service currently deploys 10 ships of 5,400-6,600 teu on a 13 week rotation, including 9 ships operated by Zim and 1 ship by Maersk. The suspension of this service will remove an average
Maersk and Global Feeder Shipping (GFS) will launch a new Intra ME/ISC service that will cover Jebel Ali, Dammam, Jebel Ali, Mundra, Pipavav, Jebel Ali with two ships, the 1,740 teu BIG DOG and 1,613 teu GFS RANNA (ex HERA). BIG DOG will phase in on 29 November 2022 at Jebel Ali while GFS RANNA, coming out of drydock, will phase in also at Jebel Ali on 6 December 2022. Maersk brands this new service as the Shaheen Express. GFS has not yet released details on the new service. Shaheen Express po
Sealand Asia, the intra-Asia arm of Maersk, has revamped its IA-9 service with a new streamlined port rotation calling at Qingdao, Yokohama, Nagoya, Kobe, Shanghai, Xiamen, Ho Chi Minh City, Singapore, Tanjung Pelepas, Port Klang (N), Penang, Port Klang (W), Tanjung Pelepas, Ho Chi Minh City, Hong Kong, Qingdao. Calls at Hibiki, Busan, Hakata, Moji, Xiamen and Jakarta are dropped, while a new call at Penang is added. The revised rotation will turn in 5 weeks instead of 6 weeks under the previou
Maersk reported 3Q before market open today (2 Nov 2022). Earnings turned out better than expected (BTE) but guidance stayed unchanged, suggesting a bearish outlook. BTE 3Q Results: EBIT $9.48bn, up 5% QoQ and 62% YoY, beat Bloomberg consensus estimate of $8.63bn. The BTE earnings were due to higher contract freight rates. During the period, Maersk continued to experienced costs increase particularly in bunker and depreciation, which including chartering. Maersk's 3Q volume dropped 8% YoY and 3