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
ONE will launch a new Scandinavia Express (SCX) service connecting Rotterdam, Gothenburg, Helsingborg, Aarhus, Copenhagen, Antwerp, Rotterdam from 19 December 2024. The SCX will turn in 2 weeks with the 1,440 teu CAPE FERROL and 1,781 teu LANGENESS.
ONE will launch a new Levant Express (LEX) service connecting London Gateway, Rotterdam, Hamburg, Antwerp, Alexandria, Damietta, Mersin, London Gateway from 13 January 2025. The LEX service willl turn in 4 weeks using 4 ships of 2,600-2,800 teu starting with the 2,741 teu LORRAINE at London Gateway on 13 January 2025.
ONE and Yang Ming will introduce a new Aegean Express/North Europe-Aegean Express (AEX/NEA) service calling at London Gateway, Antwerp, Rotterdam, Piraeus, Istanbul, Gebze, Gemlik, Aliaga, Piraeus, London Gateway to provide enhanced connections between North Europe and the Med. The service will be officially launched on 4 January 2025, but ONE will begin to offer the service from 10 November 2024 with the 1,084 teu SVENDBORG at Antwerp. The service will turn in 4 weeks and will deploy 4 ships o
ONE is scheduled to report its calendar Q3 results on October 31, 2024, marking the start of the reporting period for major liners. ONE has projected its Q3 2024 net profit to increase by 88% quarter-on-quarter, while COSCO recently indicated that its Q3 2024 EBIT is expected to rise by 154% quarter-on-quarter. Other liners have not provided guidance for Q3, but those that have offered FY2024 projections suggest their second-half earnings could vary from a decline quarter-on-quarter to an incre
ONE has announced the launch of a new India Coast Express (ICE) service through slots on Global Feeder Shipping's Colombo Cochin Gulf (CCG) service that connects West Coast India, Colombo and East Coast India. The CCG/ICE calls at Mundra, Pipavav, Mangalore, Cochin, Colombo, Kattupalli, Visakhapatnam, Kattupalli, Colombo, Cochin, Mangalore, Mundra. The service turns in 28 days using 4 Indian flagged ships of 2,700-3,300 teu operated by GFS.
ONE will introduce a new East Coast South America Express 3 (SX3) service from 14 October 2024 through slots on HMM's Far East-India-Latin America (FIL) service. The service turns in 12 weeks and deploys 12 ships of 4,700-8,500 teu from HMM that calls at Busan, Shanghai, Ningbo, Shekou, Kattupalli, Santos, Paranagua, Rio Grande, Navegantes, Singapore, Hong Kong, Busan. ONE's slot arrangement will not include the Kattupali call.
ONE EBIT nearly doubled YoY and tripled QoQ in 2Q 2024 on reduction of unit costs despite sub-market freight rates hike achieved. ONE’s unit revenue (total revenue over total volume) was up only 1% YoY and 4% QoQ against CCFI’s 53% YoY and 12 % QoQ. ONE lifted FY2024 earning guidance from $1.0bn to $2.7bn, with earnings expected to nearly double QoQ to $1.5bn in 2Q FY2024 (Jul-Sep) before dropping in 2H FY2024 by 78% HoH.
ONE and HMM will launch a new Asia Latin America 4 Express (ALX4)/Far East-Latin America Express (FLX) service connecting Shanghai, Busan, Lazaro Cardenas, Shanghai from 16 August 2024 The ALX4 service will turn in 42 days and will deploy up to 6 ships of 4,000 to 7,000 teu starting with the 7,164 teu ONE REPUTATION. The launch of the ONE/HMM service marks the 7th service connecting China to Mexico launched since May 2024. It follows the launch of the WSA5/TLP5 by COSCO/OOCL, M2X by CMA CGM,
ONE will withdraw from the 2 India-North America Indamex services that is marketed as the India-East Coast Express (IEX) and India-East Coast Express 2 (IE2). Its last westbound sailings will be at Port Qasim on 24 May 2024 on IEX and 20 May 2024 on the IEX2. ONE will withdraw the 10,010 teu SEAPSAN BEACON from the IEX on 13 July 2024 that operates alongside 9 other ships operated by the Indamex partners CMA CGM, COSCO and Hapag-Lloyd that calls at Port Qasim, Nhava Sheva, Mundra, New York, Nor