Freight forwarder association Clecat is asking the EC competition directorate to urgently investigate what it claims are “distortions” in the liner shipping market. Clecat wrote to commissioner Margrethe Vestager calling for the regulator to establish “the degree of concentration, consolidation, coordination, and cartelisation in the upstream container liner shipping services markets serving...
Through its brokers, Zim has made it known to containership owners that it is prepared to outbid competitor lines to secure charter tonnage. According to Alphaliner, the Israeli carrier “has been the most aggressive charterer in the past 12 months”, having concluded over 120 fixtures of existing and newbuild tonnage. “What owners are...
A situation can turn swiftly from stress-free to stressful, but there are often remedies before us that, unfortunately, we aren’t able to detect at first glance. Briefly, on Premium‘s screen today: DSV’s start to the week was another one to forget, drawing from its share price action. The stock hit Dkr1,244.5 in early...
Maersk said this week it anticipated container spot rates would fall back in the second half of the year, justifying its strategy to secure 70% of its volume under long-term contracts. Spot rates are already showing signs of softening, post Chinese New Year, on the Asia-North Europe tradelane, and the return to...
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...
Ocean carriers fear that fiscal policies designed to stem inflationary pressures in Europe will weaken consumer appetite for non-essential goods, and are preparing to react quickly to adjust capacity. Container spot rates from Asia to North Europe were flat this week, due to the Chinese New Year holiday, with Drewry’s WCI holding...
China United Lines (CULines) has applied to be listed on the Hong Kong Stock Exchange. The liner operator, which is majority owned by the Chinese state, did not provide any fund-raising target or timetable in its listing prospectus, but stated that it plans to use the proceeds to expand its fleet, acquire...
Shipping lines continue to rail against the introduction of new legislation in the US that is aimed at curbing some of the excesses that both importers and exporters have complained about over the past two years. A Senate version of the Ocean Shipping Reform Act is now under consideration in the US...
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...
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...
