China’s reefer cargo crisis worsens as carriers plan to abandon boxes

Japanese carrier ONE has joined several of its liner peers in imposing a congestion surcharge on reefer containers destined for major Chinese ports.
Moreover, some carriers are preparing to declare force majeure and leave refrigerated containers at alternative ports.
With the coronavirus outbreak showing no signs of abating in China and still severely restricting landside operations at the ports of Shanghai, Ningbo and Xingang, reefer plug-in points are in extremely short supply, …

The post China...

https://theloadstar.com/chinas-reefer-cargo-crisis-worsens-as-carriers-plan-to-abandon-boxes/

HMRC says new customs declaration system can run alongside CHIEF

The British International Freight Association (BIFA) and freight software suppliers have welcomed indications that the UK HMRC is planning to extend the implementation period of its new customs system until next year.
Last week, HMRC indicated that implementation of the Customs Declaration System (CDS) would be in tandem with the continuing operation of the existing CHIEF system.
BIFA director general Robert Keen said: “In 2019, when HMRC announced its proposed plan for …

The post HMRC says new...

https://theloadstar.com/hmrc-says-new-customs-declaration-system-can-run-alongside-chief/

Scrubbers could be harmful to food chain, suggests leaked IMO report

Oh dear. Environmental groups are calling for a halt to the use of scrubbers, until more is known about their impact. A leaked internal IMO report reveals there is insufficient “toxicity data” to assess the risk to humans of scrubbers via contaminated seafood, after polycyclic aromatic hydrocarbons, which have been linked to several types of cancer, are dumped in the sea in the process. While the Clean Shipping Alliance believed …

The post Scrubbers could be harmful to food chain, suggests...

https://theloadstar.com/scrubbers-could-be-harmful-to-food-chain-suggests-leaked-imo-report/

Analysis: AP Møller-Mærsk – the beauty and curse of corporate strategy

Last year was a busy yet transitional period for Denmark’s AP Møller-Mærsk (APMM) and with its annual numbers due on Thursday – the day after Hapag-Lloyd reports its preliminary results – the spotlight will be on a plethora of upcoming challenges and opportunities, perhaps, more than on trailing figures.
The table below shows what to expect, particularly in terms of top line and ebitda, according to S&P Global Market Intelligence.
Annual group …

The post Analysis: AP Møller-Mærsk – the beauty...

https://theloadstar.com/analysis-ap-moller-maersk-the-beauty-and-curse-of-corporate-strategy/

DP World to delist from Dubai stock exchange to drive expansion of supply chain footprint

Dubai-based container terminal operator DP World is set to delist from the Dubai Nasdaq stock exchange after majority shareholder Ports & Free Zone World (PFZW) offered to acquire the 20% of shares it does not own.
In a statement to the Dubai stock exchange, the company said minority shareholders had been offered $13 per share, which valued DP World at $13.9bn, and added after the sale, the company would be delisted …

The post DP World to delist from Dubai stock exchange to drive expansion of...

https://theloadstar.com/dp-world-to-delist-from-dubai-stock-exchange-to-drive-expansion-of-supply-chain-footprint/

PIL to quit transpacific trades as it takes a ‘strategic review’ of its network

Singapore-headquartered container carrier Pacific International Lines (PIL) is to quit the transpacific trades.
“As part of Pacific International Lines’ (PIL) continuous effort to optimise its network efficiency, the company will be withdrawing its services from the transpacific market,” it said this morning.
It said PIL’s last transpacific sailing would be next month.
“The company has taken this decision as part of a wider strategic review of its business. Henceforth, PIL will focus on …

The...

https://theloadstar.com/pil-to-quit-transpacific-trades-as-it-takes-a-strategic-review-of-its-network/

Coronavirus restrictions mean China’s hauliers still have too few drivers

Trucking firms in China are still experiencing a severe shortage of drivers returning to work.
Despite the official end to the extended lunar new year holiday this week, transport restrictions and other measures to combat coronavirus, have prevented truckers from operating anywhere near full capacity.
For example, according to Shanghai-based MarcoReichel, APAC business development manager at Crane Worldwide Logistics, most drivers require a permit to return to work and face quarantine …

The...

https://theloadstar.com/coronavirus-restrictions-mean-chinas-hauliers-still-have-too-few-drivers/

Container shipping ex-China grinding to a halt – carriers ‘can’t carry on much longer’

The coronavirus outbreak in China continues to severely disrupt supply chains, the few export sailings this week not cancelled by carriers departed barely 10% full.
With reported deaths now in excess of 1,300 and confirmed cases at over 63,000, some provinces and cities in China have extended movement restrictions until 1 March.
“The network has almost ground to a halt,” one carrier source told The Loadstar this week.
“We sailed a 23,000 teu …

The post Container shipping ex-China grinding to a...

https://theloadstar.com/container-shipping-ex-china-grinding-to-a-halt-carriers-cant-carry-on-much-longer/

Supply chain radar: CMA CGM and the other side of the coronavirus scare

In the wake of third-quarter results last year, we had almost forgotten that financial distress was mounting at France’s CMA CGM.
Not long ago, its traded debt rallied and with the allure of capital appreciation on the cards, the bulls were almost prepared to suggest the crisis of confidence was over in the bond market for the debt-laden carrier.
However, what the coronavirus crisis has done in the past three weeks is to …

The post Supply chain radar: CMA CGM and the other side of the...

https://theloadstar.com/supply-chain-radar-cma-cgm-and-the-other-side-of-the-coronavirus-scare/

HMM unveils 2019 results as SM Line replaces it in 2M transpac tie-up

Despite a decline in fourth-quarter revenues, South Korean carrier Hyundai Merchant Marine (HMM) saw annual sales last year increase by 5.6%  a return to profitability in Q4.
It said its 2019 revenue was KW5.4trn (US$4.67bn), while its operating loss narrowed 45.6% to KRW304bn, as it prepares to join THE Alliance and begin deploying its new series of ultra-large container vessels (ULCVs) at the beginning of April.
The reduced operating loss represented a …

The post HMM unveils 2019 results as SM...

https://theloadstar.com/hmm-unveils-2019-results-as-sm-line-replaces-it-in-2m-transpac-tie-up/