Shipping consolidation continues apace with CMA CGM announcing it is to acquire European shortsea specialist Containerships.
The announcement follows the signing of an agreement between CMA and Containerships’ parent company, Container Finance.
Containerships boasts strong market presence in the Baltic markets, North Africa, Northern Europe, Russia, and Turkey.
It also owns stakes in box terminals in Finland and Russia through its Multi-Link Terminals subsidiary
Between August and January, the Finland headquartered carrier is expected to ...

The post
Read more...

The world’s two biggest container lines, Maersk Line and MSC, are closing a number of services on their networks in an attempt to plug losses and regain profitability in the final half of the year.
The carriers have already announced they are each pulling a service between Asia and the Middle East, with Maersk also notifying shippers of the termination of its AC5 loop from Asia to the west coast of South America.
Today ...

The post
Read more...

The mandate for US truckers to use electronic logging devices (ELDs) continues to feed controversy as its repercussions reach beyond domestic surface transport.
Air cargo providers are also feeling the impact – from higher trucking rates to delays and, in some cases, desperate modal switches to get cargo to its destination on time.
The new regime, introduced at the end of last year, has affected the long-haul sector the most. According to some reports, ...

The post
Read more...

Hutchison Ports Thailand (HPT) began operations at Laem Chabang Terminal D on Monday, when the 5,556 teu MOL Grandeur came to call.
The new $600m terminal is HPT’s third at Thailand’s major container gateway of Laem Chabang.
The new deepsea facility could pave the way for a 40% capacity increase in the largest vessels calling at the port, helping Thailand challenge Malaysia and Singapore for coveted South-east Asian transhipment traffic.
Stephen Ashworth, Hutchison Ports’ ...

The post
Read more...

Tax benefits played a part in boosting FedEx’s full-year profits, although margin pressures bit hard, and the logistics operator has placed a major new aircraft order.
Announced alongside its annual results, the company said it had ordered 12 Boeing 777 freighters and 12 B767 freighters as part of its modernisation programme.
During an investor call yesterday, chief operating officer Dave Bronczek said the aircraft, due for delivery between 2020 and 2025, would replace older, “less ...

The post
Read more...

Things seem to be getting worse for Tesla. Just over a week after announcing a massive staff lay-off (9%) as it searches for profitability, the electric car manufacturer has suffered “extensive and damaging sabotage” at the hands of an employee. And that’s not all. A small fire caused production on its Model 3 cars to stop, albeit “briefly”, at its Freemont vehicle plant.

The post
Read more...

AP Møller-Maersk has appointed Carolina Dybeck Happe as its new chief financial officer.
In joining the shipping giant Ms Happe transfers from the same role at lock manufacturer Assa Abloy, where she spent almost a decade between 2002 and 2011, before becoming CFO at Trelleborg.
A year later she returned to Assa as CFO, adding board positions at Commerzbank and Eon. While she ended her association with Commerzbank in 2017, she is expected to remain on the ...

The post
Read more...

Fascinating analysis from Splash247 columnist Kris Kosmala of the strategic choices facing South Korean line Hyundai Merchant Marine, as the clock continues to count down on its basic slot allocation with 2M partners Maersk and MS, set to expire in 2020. What it does next could determine its fate as a company: does it negotiate a new arrangement with 2M; does it look to join another alliance; or could it ...

The post
Read more...

Shipping industry heavyweights are urging the International Maritime Organization (IMO) to “progress key issues” at its meeting next month.
They also want a “pragmatic approach” on compliance, in order to smooth imposition of the 0.5% sulphur cap regulation on 1 January 2020.
In a joint statement released yesterday, BIMCO, the International Chamber of Shipping (ICS), trade bodies Intercargo and Intertanko and the World Shipping Council (WSC) called on IMO member states to “make progress on ...

The post
Read more...

Freighter operators’ hopes of securing more slots at Schiphol have been dashed following a government ruling against the introduction of the ‘local rule’.
But the cargo community is now working on a new solution to help freighter operators at the slot-constrained airport.
Infrastructure minister Cora van Nieuwenhuizen said she could not greenlight the rule as there was a chance it would make the airport exceed the maximum number of flights permitted: set ...

The post
Read more...