The costs of shipping a forty-foot container from Asia to North Europe has increased to more USD 9,000, freight forwarders and importers tell Financial Times.
China is breewing on a series of measures aimed at stabilizing the market and rates in container freight, says a spokesperson according to Lloyd's List. The update comes shortly after the Chinese government announced aid for, among others, container makers.
500,000 new containers need to be built to stem the currently red hot container market, freight forwarder Flexport tells Bloomberg. Satellite photos show a large number of container ships waiting in line off Los Angeles, reports the media.
The freight forwarding business at DHL, Global Freight Forwarding, lifted its revenue and earned more money on operations in the latest fiscal year, show preliminary 2020 figures. The group raises its 2022 guidance.
Since November, fuel prices have increased significantly, which will likely bring back the so-called BAF surcharges and should have shippers preparing for a hike in prices, says analyst firm.
The coronavirus crisis has exposed supply chain weaknesses worldwide, which has led many shippers to look for more partners. Almost half of them want to increase their number of logistics partners in 2021, shows survey from Transport Intelligence.
Ceva Logistics has acquired a Moroccan company that will, among other things, strengthen the logistics operator's reefer business. The move is part of an expansion of its presence in Africa, where the company also bought up last year.
For years, Bjørn Vang Jensen sat across the table from container lines to renegotiate contracts as a representative of Electrolux. He cannot rule out that the contracts set to be entered soon could increase by up to 50 percent as a result of the current rate boom.
British regulators have approved Kuehne + Nagel's sale of a business unit in Great Britain to US-based XPO.
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Maersk's break from major German customer DB Schenker and the cyber attack on CMA CGM attracted the most readers on ShippingWatch in 2020. In an unusual year characterized by the coronavirus pandemic, other big stories were the red-hot container market, Søren Toft's start at MSC and a large-scale reorganization at Maersk.
Maersk CEO Søren Skou steps up in an attempt to alleviate the fierce criticism voiced by shippers and, most recently, US regulators about the pronounced logistics issues in a currently red-hot container market. He has, among other things, met with the FMC, one of the fiercest critics.
Scandinavian equity fund EQT has offered NOK 8.5 billion for major Norwegian transport company Torghatten. This comes shortly after the fund acquired ferry operator Molslinjen.
DHL is experiencing the chaotic container market up close right now. CEO Tim Scharwath does not think a stable market will return until the second half of 2021. Hapag-Lloyd's CEO speaks of a strong market "into the second quarter" next year.
Market Research Analyst – Ultragas
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