News Highlights week: 19 - 2026

Cosco reported a 49% drop in firstquarter net profits to $861 million
due to plunging freight rates, despite an increase in volumes. Total first quarter revenue fell 11% to $7.6 billion. “The group’s container shipping business experienced a year -on-year decrease in revenue per TEU and a year-on-year decrease in operating performance,” Cosco said, The carrier’s revenue per TEU on international routes fell 15% to $1,110 in the first quarter. Cosco said revenue on all its major trades except its domestic network fell in the first quarter, resulting in a 13% drop in revenue from container shipping, to $6.6 billion. 

Yang Ming boosts Asia - ECSA coverage 
Yang Ming has launched a third service between Asia and the East Coast of South America, focusing on the Brazilian market out of China, Korea and Vietnam.
The new loop, branded ‘SSX’ is offered via slots on the Asia-ECSA joint service of Ocean Network Express (ONE) and HMM, which the carriers brand respectively ‘SX2 / FL2’. 
This Brazil-oriented service calls at Busan, Shanghai, Chiwan, Singapore, Rio de Janeiro, Santos, Itapoa, Singapore, Cai Mep, Haiphong, Busan. The weekly loop uses a fleet of eleven vessels with capacities ranging from 4,400 to 6,350 teu. 

For Yang Ming, the 'SSX’ adds to its existing offering on the Asia-ECSA trade route which consists of the ‘SA3’ and ‘SA5’ services. 
The ‘SA3’ is provided through slots on the Asia-ECSA joint service of CMA CGM, COSCO SHIPPING Lines, Evergreen and PIL (‘SEAS / ESA / ESA / ES1’) and covers Brazil, Uruguay and Argentina out of China and Singapore. 
The ‘SA5’ is also provided via slots, on the joint Asia-ECSA service of COSCO SHIPPING Lines and CMA CGM (‘ESA 2 / SEAS 2’) with also a focus on the Brazilian market out of China and Singapore.
Chinese tonnage: growing charter market influence
Chinese-controlled container tonnage made inroads into the charter market in 2021 in the aftermath of the COVID pandemic, when Chinese domestic owner Quanzhou An Sheng chartered out several of its 4,300 teu ‘classic panamaxes’ (REN JIAN 16, 17, 20 etc) on international routes. 
Although the initial charterer of most of these vessels, CULines, was a Chinese operator, high-profile international shipping names such as Maersk, CMA CGM or X-Press Feeders followed suit and eventually chartered them too. 
In 2023, another major Chinese domestic operator, Zhonggu Logistics entered the charter market as well, with some of its bulky ‘SDARI 4600 Domestic’ class container vessels able to carry 4,636 teu. Market observers were initially sceptical about these massive ships with their high deadweight, their low speed and reefer intakes. But the ships turned out to be very popular on certain routes. 

The vessels hit the market at a time of vessel shortage which allowed owners to obtain very lucrative time-charter rates, with the first ships fixed at  USD 27,000 per day for employments of up to 12 months. 
Maersk, CMA CGM, COSCO SHIPPING, Hapag-Lloyd, X-Press Feeders, GFS, Emirates, CULines quickly became regular charterers of the ‘SDARI 4600 Domestic’ type, as did SeaLead, KMTC, TSL, or Akkon. 
Today, in a lower speed environment, these ships have become among the most popular charter vessels and are usually fixed for periods of 24 months at rates ranging from USD 45,000 to USD 48,000 per day.