'New services and focus on profitability' produce bumper Q3 for HMM
South Korean container carrier HMM was today the latest carrier to report bumper third-quarter figures ...
UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
UPS: MULTI-MILLION PENALTY FOR UNFAIR EARNINGS DISCLOSUREWTC: PUNISHEDVW: UNDER PRESSUREKNIN: APAC LEADERSHIP WATCHZIM: TAKING PROFITPEP: MINOR HOLDINGS CONSOLIDATIONDHL: GREEN DEALBA: WIND OF CHANGEMAERSK: BULLISH CALLXPO: HEDGE FUNDS ENGINEF: CHOPPING BOARDWTC: NEW RECORDZIM: BALANCE SHEET IN CHECKZIM: SURGING
Taiwanese regional carrier TS Lines has deployed its largest containerships on its China-India service, again illustrating India’s growing market.
The 7,000 teu scrubber-fitted TS Keelung and TS Shanghai, delivered from Shanghai Waigaoqiao Shipbuilding last week, represent an upsizing of capacity on the service, which previously used 4,000-5,000 teu ships.
They are among six sister vessels TS Lines commissioned in 2021; all to be delivered this year and TS now operates 49 routes with an owned fleet of 35 ships
TS Lines said: “These new ships will enhance our competitiveness as they are more fuel-efficient and carry more containers than older feeder vessels.”
A representative told The Loadstar that, while the planned IPO on the Hong Kong Stock Exchange was still on, there was no definite timeframe for the listing, as the company wanted to monitor market developments.
When TS Lines issued its prospectus in October 2022, the company was one of several intra-Asia carriers that had ventured into long-haul lanes during the pandemic-fuelled boom. But in 2023, TS Lines left all long-haul lanes and sold nine ships for more than $150m.
`However, the carrier is one of several box lines riding on India’s manufacturing boom. Compatriots Wan Hai Lines and Interasia Lines will start a joint Indonesia-Malacca Strait-western India service, with Korea Marine Transport Co (KMTC Line) on 1 May.
Branded as SI8 by Wan Hai and Interasia, the service will use four 2,600-2,700 teu ships, calling at Jakarta, Surabaya, Singapore, Port Klang, Mundra, Nhava Sheva, Port Klang and Jakarta, providing direct connections between Indonesia’s two main container ports and gateways to western India.
Alphaliner said today that Wan Hai would deploy two ships, the 2,702 teu Najade and the 2,741 teu Wan Hai 309. KMTC planned to operate the 2,556 teu KMTC Yokohama, while Interasia had yet to nominate its ship. Currently, Singapore-based Vasi Shipping is the only provider of direct container shipping links between Jakarta and Nhava Sheva, with its IMS service.
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