Bangladesh’s strained logistics sector could see major foreign investment, following a call by the EU for the country to relax restrictions. The EU is pushing Bangladesh to open up its logistics industry to foreign investment of up to 100%, from 49%. This would see foreign companies being able to invest independently, rather than...
PRESS RELEASE Dhaka, Bangladesh: A.P. Moller – Maersk (Maersk) is strengthening its operations in Bangladesh, where it has served the country’s exporters connect to the global market for almost three decades. Bangladesh has been one of the most important sourcing markets for the garments and apparel industry worldwide. The garment manufacturers exporting to...
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...
“Thousands” of small freight forwarders fear for their survival following Maersk’s decision to offer them only its Maersk Spot product. The loss of the vast majority of Maersk’s capacity has led to some “4m teu looking for a new home”, according to one major forwarder. Larger forwarders have secured long-term contracts with other...
“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...
Maersk’s proposed $3.6bn acquisition of Hong Kong-based LF Logistics represents a “significant milestone” in its transformation into a global integrator of container logistics, according to the CEO of its Ocean & Logistics division, Vincent Clerc. Maersk will purchase LF Logistics from controlling shareholder Li & Fung and Singapore state-owned investment vehicle Temasek, which...
Rumours that Maersk will restrict some customers to spot bookings from 1 January could be “a big opportunity” for smaller forwarders to win business from their multinational competitors. Sean Crook, director at Sydney-based forwarder Neolink, says Maersk and subsidiary Hamburg Süd have “definitely been pushing everyone to online bookings and/or FAK [freight...
Maersk’s decision to “temporarily suspend” spot and short-term contract bookings from Asia following the Suez Canal blockage has left forwarders and NVOCCs scrambling for alternatives. The carrier said on Tuesday it estimated a loss of capacity across its network of up to 30% “over multiple weeks”, in addition to equipment shortages in...
The Suez Canal is set to resume operations today after the 20,388 teu Ever Given was re-floated overnight. While the vessel’s bow remained stuck on one side of the waterway this morning, the high spring tide this afternoon allowed salvors to re-float the entire ship and unblock the waterway after a week...
India’s container imports came roaring back to life in the fourth quarter, but booming demand out of China means there’s still a shortage of export containers. According to Maersk’s Q4 India trade report, container volumes grew 13.2% year on year, with exports “stabilising at a high level” and imports bouncing back 36.3%,...
