Low freight rates and high bunker costs see Zim sail into the red

Israeli container shipping line Zim yesterday posted a net loss for 2018 of $119.9m, despite a 9.2% increase in revenue to $3.2bn, a four-year high.
Zim said depressed freight rates in the first half and high bunker costs were the primary causes, while a second-half rally in rates was not enough to keep the line out of the red.
In 2017, the company recorded a net profit of $11.4m, on revenue of …

The post Low freight rates and high bunker costs see Zim sail into the red appeared first on The...

https://theloadstar.com/low-freight-rates-and-high-bunker-costs-see-zim-sail-into-the-red/

Uncertainty remains over who will pay for compliance with IMO 2020

Carriers and shippers remain in dispute over who will pay for compliance with the pending sulphur fuel cap.
And they have further concerns over unified global enforcement.
At the European Shippers’ Council Maritime Day 2019, Nick Lurkin, of the Royal Association of Netherlands’ Shipowners (KVNR), said carrier customers needed to accept the cap.
“With the IMO regulations there is no delay, even if there are still some that think it will be delayed …

The post Uncertainty remains over who will pay...

https://theloadstar.com/uncertainty-remains-over-who-will-pay-for-compliance-with-imo-2020/

More profitable second half helped Hapag-Lloyd stay in the black

Hapag-Lloyd’s net profit came in at $54m last year after the carrier recovered well from a loss-making first six months, which in June obliged it to issue a profit warning.
Chief executive Rolf Habben Jansen said the transport group was “satisfied with the financial results”.
In terms of its 3.8% ROIC (return on invested capital), the Hamburg-based liner trumped its bigger peers, CMA CGM and Maersk, in 2018. They reported disappointing ROICs …

The post More profitable second half helped...

https://theloadstar.com/more-profitable-second-half-helped-hapag-lloyd-stay-in-the-black/

Slide in container freight rates may be beginning to level out

Freight rates on the major east-west container trades continued to slide this week – although the precipitous fall during previous weeks has finally begun to flatten out.
According to this week’s Shanghai Containerised Freight Index (SCFI), the freight rate from China to North Europe has dipped below the $700 per teu mark, down some 4.2% week on week to today’s $684 per teu.
Rate levels on the China-Mediterranean leg also declined, by …

The post Slide in container freight rates may be beginning...

https://theloadstar.com/slide-in-container-freight-rates-may-be-beginning-to-level-out/

Market Insight: Ocean & air freight woes – “we’re all pigs counting who’ll reach the slaughterhouse first”

A quick and dirty take at the end of the week to get across the mood out there in the ocean and air freight market circles, as the first quarter laboriously draws to a close and very few actors are genuinely looking forward to the second quarter and beyond.
In short, it’s really bad for all, carriers and freight forwarders alike, with the clouds gathering on several fronts.

Horizontal value no more?
Discussing …

The post Market Insight: Ocean & air freight woes – “we’re all pigs counting who’ll...

https://theloadstar.com/market-insight-ocean-air-freight-woes-were-all-pigs-counting-wholl-reach-the-slaughterhouse-first/

Noatum Maritime sets up MIQ Logistics purchase

US-headquartered freight forwarder MIQ is set to be sold to Spanish maritime and logistics group Noatum Maritime, in a deal that was first predicted by The Loadstar Premium in early January.
Given that MIQ’s current owner is private equity firm Austin Ventures, which bought it from US trucking company YRC Worldwide in 2010, the purchase price has not been disclosed, although in a statement Noatum said the consolidated revenues of its …

The post Noatum Maritime sets up MIQ Logistics purchase...

https://theloadstar.com/noatum-maritime-sets-up-miq-logistics-purchase/

Rhenus snaps up two forwarders as it spreads its global footprint

Germany’s Rhenus Group is in acquisitive mode – which will no doubt itself attract interest from the increasingly M&A-focused logistics market. 
This week the company snapped up not one, but two forwarders, strengthening its global network. 
Today, it announced it had acquired South Africa’s World Net Logistics, which not only has operations in Africa but also Germany, Hong Kong, China, Malaysia, Taiwan, Thailand and Singapore. 
World Net Logistics offers air freight between South Africa and...

https://theloadstar.com/rhenus-snaps-up-two-forwarders-as-it-widens-its-global-footprint/

Technology and data sharing can mitigate the risks of carrying dangerous goods

The aviation and maritime sectors should work together to mitigate risks in the declaration and handling of dangerous goods, a grave situation impacting both. 
This week a British Airways 777 was diverted following reports of smoke in the cargo hold, (although the reason is unknown).
Insurer TT Cub yesterday said 20% of DG loads are poorly packed or identified, translating into 1.3m unsafe containers travelling the world each year on ships. A major containership fire …

The post Technology and...

https://theloadstar.com/technology-and-data-sharing-can-mitigate-the-risks-of-carrying-dangerous-goods/