The logistics sector has so far seen a big plunge in cargo volumes in 2020, a year in which the coronavirus has caused large disruptions, writes analyst firm. The second half of the year does not look set to reverse this trend.
DSV Panalpina's stock is now for the first time trading at more than DKK 1,000. It has increased 31 percent this year and has more than doubled since the start of the coronavirus.
Maersk tells ShippingWatch in an email that there has in recent months been a shortage of especially large forty-foot containers in the market. The shipping line says it is working hard to resolve the issue. The statement comes after criticism from DHL.
Several liner companies currently redistribute containers to the lucrative Transpacific tradelane. This is causing shortages on the tradelane between Asia and Europe, which has led to delays in some areas, DHL informs ShippingWatch.
Blanked sailings are causing delays and have sent Transpacific container rates soaring. "Within the past month, it has run amok," says Carsten Trolle, CEO of Air & Sea at DSV, in an interview with ShippingWatch.
Hackers have tried to gain access to data and systems at Danish logistics company Blue Water Shipping. According to the company, the attack was "stopped and limited".
Within the next few days, the major container lines will meet with the Chinese Ministry of Transport, says shipping analyst Lars Jensen. The meeting comes in the wake of rumors that China is planning measures to counter voided sailings and rate increases.
Last year, Maersk's biggest rivals gave blockchain platform Tradelens their seal of approval. Now Tradelens is well on its way to integrating those companies' data, and the first pilot projects with the big shipping companies have already been launched, Tradelens tells ShippingWatch.
German competitor DB Schenker has sent an offer to Maersk-owned Damco's customers offering to acquire short-term contracts. This happens after Maersk has opted to drop Damco as an independent brand.
Australia's Toll Group reports a deficit of more than AUD 685 million for its latest fiscal year. And the company says that its owner has only put up guarantee for its billion dollar debt until mid-2021.
Container line HMM now joins forces with Singapore's terminal operator PSA International to establish a joint venture. According to the shipping line, the partnership will ensure berths at arrival and provide "more reliable service."
NTG struggled to secure capacity aboard merchant vessels during the coronavirus crisis, when trade patterns changed significantly. The company needs more scale at sea, which can be obtained through acquisitions, CEO tells ShippingWatch.
Maersk has for weeks been preparing a comprehensive reorganization which, according to ShippingWatch's sources, could have consequences for several of the group's prominent companies already this week. Signs point to Damco and Safmarine.
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