Waypoint Supply Chain Update: 2

Hapag-Lloyd Launches 'Live Position' for Real-Time Container Tracking and Announces New Peak Season Surcharges

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Hapag-Lloyd AG has unveiled its dry container tracking product dubbed 'Live Position'. This innovative solution promises comprehensive visibility into the whereabouts of shipments, tracking them from departure to arrival. Over two thirds of the dry container fleet are already equipped with tracking devices, with ongoing global installations set to cover the remaining containers by summer's end. They have also announced the implementation of Peak Season Surcharges (PSS) from Asia to various destinations across Africa. These charges range from US$250 - US$600 per TEU.

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MSC Introduces New Asia-West Coast Mexico Shuttle Service, Enhancing Regional Connectivity

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MSC Mediterranean Shipping Company has announced the launch of its latest loop shuttle services linking Asia and the West Coast of Mexico. This new offering aims to enhance connectivity and frequency between these regions, complementing their current network for the Andes, Aztec, Inca, and Santana. The complete rotation includes Qingdao, Ningbo, Shanghai, Busan, Manzanillo, Lazaro Cardenas, and back to Qingdao. The first sailing will be on 15th May from Qingdao

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OOCL Launches TLP5 Service to Boost Asia-Latin America Connectivity with Enhanced Port Coverage

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OOCL is enhancing their coverage in the emerging markets by announcing a new service called the Transpacific Latin Pacific 5 (TLP5) in their Asia - Latin America network to provide a comprehensive port coverage in the regions. The service will offer direct connections between China, Korea and Mexico with a transit time of 15 to 20 days from Qingdao to Ensenada and Manzanillo respectively. Port rotation for TLP5: Pusan - Dalian - Ningbo - Shanghai - Qingdao - Ensenada - Manzanillo - Ensenada - Yokohama - Pusan. The service will commence early May.

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ONE Financial Year 2023: Revenue Falls but Market Share Grows Amid Global Challenges

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Ocean Network Express has unveiled its results for the financial year (FY) 2023, starting in April 2023 and ending in March 2024. During this period, the company's revenue reached US$14.5 billion, reflecting a 50% decrease compared to the previous year. The net profit stood at US$974 million from an astonishing US$14 billion profit in FY 2022. "The short-term freight rate market continued to decline due to sluggish cargo movements and pressure from supply side as new vessel deliveries continued," said ONE. "However, freight rates rose due to geopolitical uncertainty surrounding the situation in the Middle East in the fourth quarter”. Looking at ONE’s full year results their volume increased +8.5% which should be compared with the CTS data showing the global volumes to have declined -3.9% in the same period. Hence ONE have clearly been successful in gaining market share.

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Maersk Reports Strong Q1 Performance and Adjusts Annual Guidance Amid Global Challenges

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A.P. Moller - Maersk’s first quarter performance met expectations, showing a significant earning rebound from Q4 2023. Terminals' strong performance, increased demand, and the Red Sea crisis contributed to positive results. Adjusting guidance, Maersk now expects underlying EBIT between US$ -2 to 0 billion for the year. Vincent Clerc, CEO of Maersk, commented, "We had a positive start to the year with a first quarter developing precisely as we expected. Demand is trending towards the higher end of our market growth guidance and conditions in the Red Sea remain entrenched. This not only supported a recovery in the first quarter compared to the previous quarter, but also provide an improved outlook for the coming quarters, as we now expect these conditions to stay with us for most of the year". Maersk have also implemented peak season surcharges (PSS) worldwide effective from 6 May.

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Evergreen and COSCO Upgrade Far East-Mediterranean Service with Larger Vessels Amid Red Sea Risks

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EVERGREEN LINE and COSCO SHIPPING Crystal Logistics (UK) Co. Ltd. plan to update their jointly managed Far East - Mediterranean service by substituting their 13,000 TEU vessels with 20,000 TEU ships. These larger ships will be sourced from their Far East - North Europe routes, which will then be served by the 13,000 TEU vessels currently in use. According to Alphaliner’s most recent report, the switch in vessel capacity between the routes is a response to the OCEAN Alliance redirecting all its Far East - Europe services via the Cape of Good Hope. The adjustment aims to circumvent the risk of Houthi attacks in the Red Sea.

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Weekly Spotlight: MSC Irina, a Colossus of the Seas

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The MSC Irina, the world's largest container ship, is a testament to modern maritime engineering. The MSC Irina boasts a capacity of 24,346 TEUs and extends about 400 metres in length, making it a linchpin in global trade. Built by Samsung Heavy Industries in South Korea, it melds cutting-edge design with environmental efficiency.

Registered under the Panama flag, the MSC Irina primarily traverses the Asia-Europe route, efficiently transporting a variety of goods. Its introduction marks a shift towards larger, more efficient ships that lower transportation costs and reduce environmental impacts. As the MSC Irina sails across major global routes, it sets new standards for sustainability and operational efficiency in the maritime industry.