The world's largest sea freight forwarder: No peak season this year!
The world's largest sea freight forwarder: No peak season this year!
Kuehne+Nagel, the world's largest freight forwarder, has poured cold water on this year's shipping season. Kuehne & Nagel and DSV both recently reported sharply lower earnings for the first half of the year, in line with the dismal state of the industry.
"We don't expect a peak season in 2023, with no signs of either sea or air transport, but we believe there could be an inflection point in the second half of the year," Kuehne + Nagel chief executive Stefan Paul said.
It is reported that Kuehne + Nagel defines the peak season as an increase of at least 10%-15% in the volume of goods from August to November.
NO.2 Maersk started chartering lots of ships, what's going on?
According to Alphaliner, a French shipping consulting firm, in the latest edition of its weekly market report, Maersk was the largest container carrier to cut capacity in the first half of this year among the world's 10 largest container carriers.
Recently, however, Maersk quickly leased six ships in a short period of time, the largest is the ZIM PUSAN of 6078TEU, and the smallest is four ships of 1700 to 1800TEU class.
Alphaliner analysts said in their weekly report that the recent reduction in charter rate levels may be the main reason for Maersk to start chartering ships, and it remains to be seen whether this trend will continue.
Lars Jessen, a well-known shipping analyst, said Maersk's recent chartering may be to make up for some expiring leases, and does not think Maersk has any expectations in the market.
NO.3 ONE's latest results are out! Net profit after tax fell 91 per cent
Recently, Ocean Network Shipping (ONE) announced its results for the first quarter of fiscal year 2023 (April 1 to June 30, 2023).
During the reporting period, ONE achieved operating revenue of $3.765 billion, down 58% from the previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) of $770 million, down 87% year over year; Net profit after tax was $513 million, down 91 percent from a year earlier.
In addition, during the reporting period, ONE achieved cargo volume of 2.825 million TEU, down 4% year-on-year.
Among them, the cargo volume of the Asia-North America eastbound route is 578,000 TEU, and the space utilization rate is 82%; The cargo volume of the Asia-North America westbound route is 291,000 TEU, and the space utilization rate is 44%; The cargo volume of the Asia-Europe westbound route is 385,000 TEU, and the space utilization rate is 94%; The cargo volume of the Asia-Europe eastbound route is 240,000 TEU, and the space utilization rate is 54%.
NO.4 net income fell 83%, Pacific Shipping reported first-half results
Recently, Hong Kong dry bulk carrier East Pacific Shipping (Pacific Basin) announced the interim results for the first six months to 2023, the company's first-half turnover of 1.148.1 billion US dollars, 33% lower than the same period last year; Underlying profit was $76.2 million, down 83%, while net profit was $85.3 million, down 82%.
According to the Pacific Shipping report, in the first half of the year, the company acquired more modern cargo vessels, including five large handysize dry bulk carriers, one ultra-handysize dry bulk carrier and one small handysize dry bulk carrier, while selling two older handysize dry bulk carriers to obtain return on value and meet stricter environmental regulations.
Since the beginning of 2021, the load capacity of Pacific Line's own fleet has increased by 6% and now stands at 5.3 million DWT, of which 55% are ultra-mobile dry bulk carriers. The company has a fleet of 121 portable and ultra-portable dry bulk carriers and operates a total of about 282 owned and chartered vessels.
Recently, fedex announced the upgrade of international priority Express service in the Middle East and India to improve the efficiency of cargo flow and help customers seize global market opportunities in a timely manner.
Effective August 1, fedex will further reduce shipping times for international priority Express services for exporters in the United Arab Emirates, Saudi Arabia and India.
The upgraded fedex International Priority Express service will deliver shipments to key markets and regions around the world in 2-3 business days, which for most markets means at least one day less shipping time than before, providing speed and reliability for customers who want to ship important and urgent shipments. In addition, this service includes fedex door-to-door service and customs clearance service.
