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Keith Svendsen has been appointed the new chief executive officer of APM Terminals to take over from Morten Engelstoft, who has decided to retire after 36 years with A.P. Moller-Maersk. Svendsen, who has been the chief operating officer (COO) of the Dutch-based port operator since 2017, will...
https://splash247.com/keith-svendsen-to-head-apm-terminals-as-morten-engelstoft-retires/
Three-day mass testing across Shanghai’s 26m residents kicked off today with the military drafted in to help in the huge exercise. Authorities in China’s commercial hub have declined to say when the city’s lockdown will end with the global logistics community desperate for more firm news out of...
https://splash247.com/three-day-mass-testing-gets-underway-for-shanghais-26m-residents/
According to Clarksons newbuild prices are experiencing the sharpest increase for almost two decades thanks largely to the extremely high number of containerships and LNG carriers ordered over the past 15 months. Vessel newbuilding prices have been rising for over a year, and the overall Clarkson...
https://splash247.com/newbuild-prices-see-sharpest-increase-for-almost-two-decades/
Singapore’s PSA International has bought the Ceres Halifax facility from Japan’s Nippon Yusen Kaisha (NYK) bolstering its position at the key port on the east coast of Canada. PSA Halifax will now operate two container terminals in Halifax, namely Atlantic Hub and Fairview Cove, jointly branded...
Liner pricing investigations are spreading around the world as carriers report record, multi-billion dollar profits while schedule reliability remains at historic lows. Splash reported earlier this week that Maersk, CMA CGM and German-controlled United Africa Feeder Line are being investigated by...
https://splash247.com/liner-pricing-investigations-multiply-across-the-globe/
Authorities at China’s commercial hub were forced into a humiliating U-turn yesterday in their battle with Covid-19. Having placed the eastern side of Shanghai, Pudong, into lockdown at the start of the week for what was planned to be five days, officials have decided to keep Pudong citizens in...
Long-term contracted ocean freight rates climbed by 7% in March, pushing shipping prices up 96.7% year-on-year, even though spot rates continued their long decline. “A combination of relentless demand, port congestion, equipment shortage and Covid disruption have driven the rates trendline to new...
https://splash247.com/long-term-box-freight-rates-up-almost-100-year-on-year-xeneta/
Mediterranean Shipping Co (MSC) has finalised its acquisition of a big name in African transport, confirming yesterday that it has entered into a share purchase agreement with Bolloré relating to the acquisition of 100% of Bolloré Africa Logistics including all of Bolloré Group’s shipping,...
https://splash247.com/msc-moves-ahead-with-6-3bn-bollore-africa-logistics-acquisition/
The US Senate yesterday passed the Ocean Shipping Reform Act, as the House of Representatives did in December. Now the two versions of the bill – the Senate’s and the House’s – will need to be reviewed and differences resolved, before a single version can go to President Biden for signing. Senator...
https://splash247.com/us-senate-passes-ocean-shipping-reform-act/