“I like it. It’s a kick in the face for all those people who didn’t want change.” So said a cargo airline executive on the moves this year by shipping lines to get into air cargo. While for some there is unease about new airlines run by shipping lines, others believe it could...
The climate change debate in the shipping industry is hotting up, reflecting the change of atmosphere which has seen many shipowners, previously opposed to rapid decarbonisation measures, suddenly turn as pressure increases. Pressure from governments as well as major companies, consumers and concerned citizens has placed shipping and its operations into the...
MSC’s surprise last-minute €5.7bn bid to acquire Bolloré Africa Logistics from under the noses of its ocean carrier rivals represents a change of direction for the Aponte family business. Hitherto, MSC has relied on organic growth to rise to the top of the container line rankings, and has shied away from large-scale...
There are unconfirmed reports that up to nine crew have been kidnapped in a pirate attack on a container ship in the Gulf of Guinea, some 48nm southwest of Equatorial Guinea. Security consultancy Dryad Global initially reported six crew missing but later amended that to up to nine crew. Few details are...
Container spot rates from Asia may have eased slightly from their record highs, post-Chinese new year, but rates for backhaul and secondary trades continue to head north. According to today’s Freightos Baltic Index (FBX), the spot rate for North Europe is $7,684 per 40ft, down from more than $8,000 at the beginning...
Extra loaders deployed by transpacific carriers to meet booming import demand have overwhelmed the US gateways of Los Angeles and Long Beach. According to a survey by Alphaliner, the capacity of the 27 ships berthed and 41 at anchorage at the San Pedro Bay ports stood at a massive 579,100 teu on Monday. The consultant calculated that the 41 ships...
“Blessed is he who expects nothing, for he shall never be disappointed.” ― Alexander Pope As widely expected, France’s CMA CGM today reported stellar interim results, with nine-month (9M ’20) and third-quarter (Q3 ’20) profits coming in at $751m and $567m, respectively. Take this: in the first nine months, it added more than...
Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months. Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates...
Container shipping spot rates on the main deepsea east-west trades this week maintained the historic highs seen in recent weeks. Today’s Shanghai Containerised Freight Index demonstrates that carriers continue to hold the upper hand as the annual round of contract negotiations on the Asia-Europe trades looms. The SCFI’s Shanghai-North Europe route ticked up...
Major forwarders may abandon Maersk over concerns that the line’s new “integrated” business and “aggressive” strategy creates conflict of interests, and that it wants to cut forwarders from its business. DB Schenker confirmed to The Loadstar that it had lost key account status with the shipping line, but said it had already switched...
