ONE and Wan Hai will exchange slots on 2 Far East-US West Coast services that each carrier operates from 1 February 2025. ONE will provide to Wan Hai 1,700 teu per week on the PS6 service that it operates under the Premier Alliance agreement. Wan Hai's slots will cover only Shanghai, Ningbo, Long Beach, Oakland, Shanghai and will exclude the other ports of the full PS6 rotation that calls at Busan, Kwangyang, Incheon, Shanghai, Ningbo, Kwangyang, Busan, Long Beach, Oakland, Busan. Wan Hai wil
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
The aggregate revenue of the three Taiwanese liners are back to level just 6% below the monthly revenue recorded for June, when their revenue started to take off. The 10% MoM drop is less than the CCFI's 20% MoM fall.
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
Taiwanese carriers’ aggregated September revenue dropped by 17% from the August peak, but remains 84% higher compared to September 2023. For the July-September quarter, their combined 3Q 2024 revenue is up 43% QoQ and 107% YoY.
Container carriers’ total revenue rose by more than 100% in July compared to a year ago, with the 3 main publicly listed Taiwanese carriers providing a glimpse of the bumper earnings that carriers are projected to earn in the 3rd quarter. Evergreen Marine, Yang Ming and Wan Hai’s July revenue figures increased by 132%, 122% and 144% respectively YoY, mirroring the average CCFI increase of 142% over the same period. Despite the recent spot freight rate correction with the SCFI dropping by 12.9%
EMC, the Taiwan listed shipping arm of the Evergreen Group, released the week before its monthly revenue for May, which was up 1% MoM and 34% YoY. There was no dip in revenue despite of the spot freight rate correction between February and April. Last week, Yang Ming and Wan Hai reported stronger MoM increase in their monthly revenue in May than Evergreen. These monthly revenue levels in May were better than any single month in 2023 and comparable to the level at end of 2022 or 2020. Further up
Wan Hai has relaunched the Asia America 1 (AA1) transpacific service from 25 May 2024. The service will have irregular port calls that will provide connections from various Chinese and Taiwan ports including Nansha, Shekou, Xiamen, Ningbo, Shanghai, Qingdao and Taipei to Long Beach or Los Angeles. The service started with the 3,013 teu WAN HAI 357 with the initial voyage covering Shekou, Xiamen, Los Angeles, Shekou. The Asia loading ports will vary with 2 or 3 load ports per sailing. After the
All of the containership services that were diverted from the Panama Canal since November 2023 have returned to their regular Panama transits as of May 2024. These services were forced to switch to the longer route initially through the Suez Canal and then to the Cape of Good Hope after the Red Sea crisis escalated at the end of 2023. With the increase in the number of neo-panamax transit slots at the Panama Canal from May, carriers are bringing back all of these services to Panama which would
Interasia Lines (IAL) has joined Yang Ming and TS Lines on the revised Pan Asia Service (PAS) as a vessel operator, with Wan Hai Lines (WHL) also taking slots on the service from 13 March 2024. The revised PAS calls at Moji, Hakata, Busan, Kwangyang, Keelung, Kaohsiung, Hong Kong, Shekou, Nansha, Ho Chi Minh City, Hong Kong, Shekou, Xiamen, Moji with a new call at Ho Chi Minh City added on 31 March 2024. The PAS service turns in 3 weeks with 3 ships of 2,400 to 3,000 teu with Yang Ming, TS Lin