HMM will take slots on the new ONE/Wan Hai AP1/AA3 transpacific service that will start on 8 May 2024. HMM will have a weekly slot allocation of 250 teu from ONE on the service that it will be marketed by both carriers as the AP1. The AP1/AA3 service will turn in 7 weeks with 7 ships of 7,000 to 13,400 teu, of which 5 ships will be operated by Wan Hai and 2 ships from ONE, and will call at Haiphong, Cai Mep, Shekou, Xiamen, Taipei, Ningbo, Shanghai, Los Angeles, Oakland, Shekou, Haiphong. The
Wan Hai, Interasia Lines (IAL) and KMTC will jointly launch a new Southeast Asia-India VIII (SI8)/Asia-Indian Subcontinent 5 (AIS5) service from 26 April 2024 to connect Jakarta, Surabaya, Singapore, Port Klang(N), Mundra, Nhava Sheva, Port Klang(N), Jakarta. The SI8/AIS5 service will turn in 28 days using 4 ships of 2,700 teu on a weekly frequency, with Wan Hai contributing the 2,702 teu NAJADE and 2,741 teu WAN HAI 309, alongside the 2.556 teu KMTC YOKOHAMA and a yet to be named ship from IAL
Monthly revenue for Taiwanese liners went up 20% or $278mn MoM in aggregate in January 2024 as the rally in freight rates started to show. To put the increase in revenue in context, these three liners together made $201mn EBIT during 3Q 2023. Their 4Q earnings are not out yet but their 4Q revenue were down about $202mn QoQ comparing to 3Q 2023. Meanwhile, CCFI composite index went up 36% MoM in January and 22% MTD 9 Feb. Further upside to the liners revenue likely to come in February. Liners' r
ONE will add 2 ships to Wan Hai's existing Asia America III (AA3) service from April and brand the service as the Asia Pacific 1 (AP1). The revised AA3/AP1 service will call at Haiphong, Cai Mep, Shekou, Xiamen, Taipei, Ningbo, Shanghai, Los Angeles, Oakland, Shekou, Haiphong from 8 May 2024, turning in 7 weeks using 7 ships of 7,000-14,000 teu with 5 ships operated by Wan Hai and 2 ships by ONE. The service is currently operated independently by Wan Hai using 5 ships of 3,000-13,000 teu with
Feedertech, X-Press Feeders and Wan Hai have teamed up to launch a new Red Sea-Gulf-India (RGI)/India-Red Sea X-Press (IRX)/India Middle East 1 (IM1) service that connects Mundra, Nhava Sheva, Jebel Ali, Jeddah, Sokhna, Jeddah, Jebel Ali, Mundra from 15 January 2024. The RGI/IRX/IM1 service turns in 5 weeks using 5 ships of 1,800-3,200 teu with 2 ships each from Feedertech and X-Press (the 1,732 teu HANSA ROTENBURG and 2,824 teu ADDISON, together with the 3,158 teu X-PRESS ALTAIR and 2,756 teu
The Asia Red Sea (AR1) service jointly operated by THE Alliance and Wan Hai will be suspended with the last westbound sailing to depart from Singapore on 31 January 2024. 4 ships are currently deployed on this service which typically turns in 7 weeks on the Red Sea route calling at Busan, Shanghai, Ningbo, Shekou, Singapore, Jeddah, Aqaba, Sokhna, Jeddah, Singapore, Busan. The 5,610 teu WAN HAI 613 was the last ship to transit via the Gulf of Aden while 3 other ships (YM MUTUALITY, YM MODERAT
Unlikely a surprise to the market, liners are reporting sequentially lower 4Q 2023 results, which is in line with CCFI while the QoQ rebound in SCFI will likely only show in the liners' book in 1Q 2024. While the 4Q results may not be pleasing to look at, everything changed since the second half of December. COSCO reported earning alert, OOCL reported top line breakdown while the Taiwanese liners reported their December revenue this week. COSCO alerted 68% QoQ lower earnings during 4Q while O
Taiwanese carriers reported 3Q 2023 financial results last week with their earnings decline accelerating in spite of the volume recovery. Aggregating the liners’ top line breakdown, volume was up 4% QoQ and 2% YoY while unit revenue was down 11% QoQ and 58% YoY. Interest and liquid investment income have become a significant addition to the carriers’ bottom lines as their cash balances are now comparable to the fixed assets on their balance sheets. Several off the charts data in EMC’s 3Q result
Yang Ming and Wan Hai also reported their September revenue. Including Evergreen, all three Taiwanese container liners reported MoM decline in September. For the quarter, 3Q 2023, and three liners in aggregate, total revenue was up 2% QoQ where EMC's on going consolidation of unlisted assets may have played a factor. For the liners already reported, OOIL, Yang Ming and Wan Hai reported QoQ decline in revenue during 3Q 2023. For the second year in a row, the peak season has not brought about any
Taiwanese liners’ August revenue in NTD moved up 6% MoM, but revenue in USD moved up less at 4% MoM. In either currency, the rebound is better than CCFI on likely sequential volume growth. Since hitting the bottom in February, these liners’ monthly revenue has rebounded between 3%-27% with EMC leading due to its ongoing consolidation of the unlisted ship owning entities highlighted by the acquisition of the privately owned Evergreen Marine (Singapore) (EMS) for $780m on 19 June 2023, in a landm