Sea

CMA CGM to operate new box terminal at Egypt’s port of Alexandria

As competition for Mediterranean container traffic heats up, CMA CGM is set to operate a new container terminal at Egypt’s port of Alexandria.
The French shipping group will manage the multipurpose, 1.5m teu capacity facility, Pier 55, with operations commencing next year.
It is the second major box terminal deal for Egypt in six months and follows Hutchison’s August deal to develop a $730m terminal at Abu Qir, just 20km away, with the …

The post CMA CGM to operate new box terminal at Egypt’s...

https://theloadstar.com/cma-cgm-to-operate-new-box-terminal-at-egypts-port-of-alexandria/

Supply chain radar: DSV Panalpina – ‘absolutely beautiful’

After last week’s action, the usual Monday update from DSV Panapina (DSV PAN) concerning weekly buybacks was significantly less entertaining, let alone relevant, than the latest insider talk about its upcoming numbers due next Wednesday, 10 February.
Also, some of you may have read another (typically ordinary) 22 January announcement ahead of results– subject: 2020 annual report analyst conference call… “a webcast and conference call will be held at 13:00 CET” – perhaps spotting...

https://theloadstar.com/supply-chain-radar-dsv-panalpina-absolutely-beautiful/

KDB eyes sale of stake in box line HMM to steel giant POSCO

Interesting news from South Korea this morning: BusinessKorea reports that the state-owned Korea Development Bank, which became the largest shareholder in container shipping line HMM after its restructure in 2017, intends to sell its 12.6% stake to South Korean steel manufacturing giant POSCO. Which would possibly make for a fascinating example of vertical integration, given POSCO’s enormous logistics spend. “If POSCO directly jumps into the shipping industry, it is expected …

The post KDB eyes...

https://theloadstar.com/kdb-eyes-sale-of-stake-in-box-line-hmm-to-steel-giant-posco/

‘A perfect fit’ – Scan Global snaps up air and ocean forwarding arm of Werner

Scan Global Logistics has snapped-up Werner Global Logistics (WGL), the air and ocean forwarding arm of major US trucking brokerage Werner Enterprises.
WGL serves customers in the US, Mexico and China, its international forwarding operations generating $53m in 2020, and Werner said it would continue to provide North American truck brokerage, freight management, intermodal and final-mile services.
WGL is the latest in a string of acquisitions for Danish forwarder SGL after it …

The post ‘A...

https://theloadstar.com/a-perfect-fit-scan-global-snaps-up-air-and-ocean-forwarding-arm-of-werner/

Fears that post-Brexit regime may lead to trailer shortage and higher rates?

Post-Brexit regulations are generating fears of trailer shortages and surging freight rates that could resemble those seen across ocean container supply chains.
Sources have told The Loadstar EU-based truck drivers are refusing to come to the UK unless there’s a back load, or the importer covers the cost of the empty return leg.
They are citing additional time and heightened bureaucracy, with concerns that as volumes pick up, so too will delays and rates.
“No …

The post Fears that post-Brexit...

https://theloadstar.com/fears-that-post-brexit-regime-may-lead-to-trailer-shortage-and-higher-rates/

On the wires: CH Robinson – the sweetest thing ain’t sweet enough

“Shippers continue to rely on Robinson’s global supply chain expertise (…) to ensure critical goods are moved as quickly and as inexpensively as possible.” – CH Robinson CEO Bob Biesterfeld, 26 January 2020.
There is a silver lining for CH Robinson (CHRW) shareholders after a couple of very tough days on the market following the release of fourth-quarter and annual results on Tuesday – its performance read: -6% on Wednesday, the …

The post On the wires: CH Robinson – the sweetest thing ain’t...

https://theloadstar.com/on-the-wires-ch-robinson-the-sweetest-thing-aint-sweet-enough/

Asia-Europe ocean spot rates sail into calmer waters as boxes are returned

Container shipping spot freight rates on the Asia-North Europe trade declined 2.7% this week – a further sign the recent exponential growth has levelled off.
Today’s Shanghai Containerised Freight Index (SCFI) Shanghai-North Europe leg was $4,276 per teu, down $117 per teu from last week, as carriers began to release more equipment to customers in China.
Christoph Baumeister, senior trade manager Asia/ISC-Europe at Flexport, said the rates decline was mainly driven by …

The post Asia-Europe...

https://theloadstar.com/asia-europe-ocean-spot-rates-sail-into-calmer-waters-as-boxes-are-returned/

ONE profits surf the wave of soaring freight rates, with Q3 revenue up 29%

Japanese ocean carrier ONE recorded a net profit of $944m for its third quarter, October-December, and expects to see profits of $2.5bn for the full year.
That would represent an astonishing 172% upgrade on its November guidance, thanks to huge hikes in freight rates hitting the carrier’s bottom line.
Moreover, it would appear that ONE is being conservative with its $900m net profit Q4 forecast for January to March, given the impact …

The post ONE profits surf the wave of soaring freight rates,...

https://theloadstar.com/one-profits-surf-the-wave-of-soaring-freight-rates-with-q3-revenue-up-29/

MOD reappoints Sea as vital Naval Combat System Service Provider

MOD reappoints Sea as vital Naval Combat System Service Provider

This photo was captured during a project celebration before COVID-19

28 January 2020: SEA, the UK’s defence and security electronic system specialist, has been reappointed to provide the UK Ministry of Defence’s (MoD) Naval Systems Integration Process Service (NSIPS) Phase 3 by Defence & Equipment Support Director Ships.

The three-year contract has an initial value of £1.88m and includes an option of a two-year extension giving a...

https://allaboutshipping.co.uk/2021/01/28/mod-reappoints-sea-as-vital-naval-combat-system-service-provider/

Surge in transhipment traffic pushes port of Tanjung Pelepas to a new record

Malaysia’s port of Tanjung Pelepas (PTP) saw 8% growth in 2020, to a record-breaking 9.8m teu, making it an outlier among South-east Asia’s competing transhipment hubs.
The growth the port, which is operated by Maersk subsidiary APM Terminals as the carrier’s key transhipment hub in the region, came despite global economic uncertainties and the Covid-crisis .
PTP CEO Marco Neelsen explained the reasons: “A surge in extra transhipment volumes, due to the …

The post Surge in transhipment traffic...

https://theloadstar.com/surge-in-transhipment-traffic-pushes-port-of-tanjung-pelepas-to-a-new-record/

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