News Highlights week: 07 - 2025

Interasia Lines (IAL) will in mid-March join TS Lines and Yang Ming on the latter's, joint Japan-Taiwan-South China-Northern Vietnam service, marketed by the two original partners as ‘JTK3’ and ‘JKX’ respectively. IAL, which will join as a vessel provider, is set to market this loop as ‘JHS’. 
The loop will thereafter expand to Northern Vietnam with the addition of Haiphong. It will also include the Southern China’s Nansha port and a second Chiwan call. These improvements come at the expense of Busan and Xiamen.

The updated itinerary of the ‘JTK3 / JKX / JHS’ will cover Osaka, Kobe, Keelung, Kaohsiung, Nansha, Shekou, Haiphong, Hong Kong, Shekou, Osaka. To accommodate the additional port calls, the revised service will extend its turnaround time from two to three weeks. 
IAL will deploy the 1,708 teu INTERASIA FORWARD as a third ship, scheduled to phase-in in early April. This will add to the loop's two 1,911 teu TS GUANGZHOU and the 1,805 teu YM INAUGURATION. 
In February 2024, IAL joined TSL and Yang Ming as a vessel operator on their Japan-Taiwan-south China-Southern Vietnam 'PAS' service.
HMM net profits rise 300% in 2024 
Korea’s Hyundai Merchant Marine (HMM) reported a near 300% increase in net profits for 2024 at KRW 3.8 trn (USD 2.6 bn). 
As usual, the company’s profits were driven by its container shipping activities which generated 96% of revenue. Operating profits for the carrier’s liner activities reached KRW 3.4 trn, a 755% increase from a year earlier. Revenues for the division rose nearly 50% year-on-year.

In addition to the market conditions created by the Red Sea crisis, HMM attributed the result to strategic fleet expansion and network improvements, including the deployment of its 12 new 13,000 teu newbuildings, and the launch of its new Far East-Latin America (FLX) route in August. 
HMM only marginally increased volumes carried during the year, at 3,821,000 teu, up just 1% on the previous year’s 3,780,000 teu. However, rates rose 65% year-on-year to USD 1,606 per teu, its third best rate performance on record. HMM warned US tariffs, supply chain shifts, and overcapacity, would mean uncertainty for the current year, however.
Maersk Ocean reports third highest annual result 
A.P. Moller-Maersk reported its third highest operating profit from liner shipping activities for 2024, at USD 4.7 bn, after the Danish group increased container rates by more than 15% during the year. 
Revenue for Maersk Ocean rose 11% to USD 37.4 bn but earnings before tax and interest (EBIT) more than doubled after shipping volumes rose by 4% and average rates by 17% to USD 1,349 per teu.

Maersk also managed to keep expenses under control despite the additional bunker consumption and other costs resulting from the Red Sea diversions. Annual operating costs increased 5.3% despite a 16.5% jump in bunker costs, after it managed to push through cuts in network expenses and Selling, General & Administration (SG&A) costs. Ship utilisation was 96%, up from 92% the previous year. 
FMC clears Premier Alliance for launch 
The Federal Maritime Commission (FMC) has approved the Premier Alliance for operation in the US. 
An application for the agreement was first filed with the Commission on 28 October 2024 but an original launch date of 12 December was postponed after the Commission requested more information. 
The Commission has now ruled that the agreement between HMM, Ocean Network Express (ONE), and Yang Ming complies with all statutory requirements and can go ahead. 

The Agreement will take effect on 9 February, and allow the lines to share vessels in trades between the US and Asia, the Middle East, and Europe. As with last year’s application and approval of the Gemini Cooperation, which was also delayed pending more information, the FMC said the alliance would be strictly monitored after approval. The first sailings by the Premier Alliance to the US were originally scheduled for 3 February. Most new loops destined for the US departed Asia between 10 and 15 February. 
In its notice, the Commission reiterated that it was “interested in any information concerning suspected violations of the Shipping Act or Commission regulations”, including misconduct by any company participating in an alliance agreement. It urged parties to report of potentially illegal conduct to the bureau.