HMRC has robustly defended its ability to migrate 5,000 UK importers and exporters to new customs software by March 2023, rebuffing accusations that systems will “collapse”. Yesterday, The Loadstar reported software house claims that the department has failed to take seriously the complexity of the switch from Customs Handling of Import and...
Weekly blogger and consultant Jon Monroe has returned to the commentary business, after a rest, with a critical, if not surprising, observation that 2022 is looking much like last year on the transpacific. “With approximately 100 vessels waiting for a berth and Covid spreading through port labour, things will be getting worse...
PRESS RELEASE Purchase, N.Y., January 27, 2022 – Atlas Air, Inc., a subsidiary of Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), today announced an agreement to expand its partnership with Flexport, the technology platform for global logistics, to add a third Boeing 747-400 freighter to its existing fleet beginning in September 2022. This long-term...
OIL PRICE reports: – Brent crude creeps closer to $90 per barrel on Wednesday morning – Russia-Ukraine crisis continues to spook oil markets – Falling U.S. crude inventories support bullish fundamentals Oil rose early on Wednesday to the highest level since 2014, with Brent approaching $90 a barrel, as resilient global demand despite the Omicron...
The vertical integration and modal mash-up continues. The Loadstar reveals today that a forwarder has started a shipping line and now a shipping line is looking at buying an airline. MSC has told the Italian government it wants to buy a stake in the new airline, ITA Airways, which began operations in...
Having already outstripped Long Beach as a bigger US import container hub, the port of New York & New Jersey is close to usurping Los Angeles at the top of the rankings. The reason is the accelerating coastal shift of imports from west to east. According to the latest data compiled by Blue...
PRESS RELEASE Heppner announces the acquisition of the Swiss Group SAFRAM, with operations in Switzerland, France, Germany, the United Kingdom and Hungary. This acquisition forms part of Heppner’s international growth and business diversification strategy, now with the integration of expertise in dangerous goods transport and logistics. The overall goal is to strengthen the...
Some mid-size forwarders are rejecting new larger customers, having been forced to adapt their business model to accommodate the contract ban from Maersk and the reluctance of other shipping lines to offer much capacity. Maersk’s move to restrict them to its Spot product only is said to have left some “4m teu...
Hutchison Ports says Yantian International Container Terminal (YICT) in southern China lowered the cut-off time for receiving outbound containers since Wednesday, claiming delayed ship arrivals have caused containers to pile up in its yard. YICT is one of three sub-ports that make up Shenzhen port, the others being Nanshan and Dachan Bay. Shenzhen...
Erik Schatzker writes: Jeremy Grantham, the famed investor who for decades has been calling market bubbles, said the historic collapse in stocks he predicted a year ago is underway and even intervention by the Federal Reserve can’t prevent an eventual plunge of almost 50%. In a note posted Thursday, Grantham, the co-founder of Boston...
