The coronavirus outbreak in China creates uncertainty in shipping – not least in dry bulk, which is already off to a difficult start in 2020. The situation has prolonged the Chinese New Year, and this can cause delays in the market, a brokerage firm tells ShippingWatch.
DSV Panalpina and Vestas enter a new partnership, in which DSV will handle all the wind turbine manufacturer's transport.
Battery producer Corvus Energy expects to have hybrid solutions ready for deep-sea vessels within two or three years, says CEO Geir Bjørkeli in an interview with ShippingWatch.
Yet another of the world's biggest container shipping companies now introduces an extraordinary bunker surcharge following recent weeks' large price increases on low-sulfur fuels. This time it is German Hapag-Lloyd, ShippingWatch learns.
Scan Global Logistics has raised more than EUR 200 million in fresh capital, and the figure could be increased further. The capital will help boost the company's global presence, says CEO Allan Melgaard.
Large price hikes on new fuels make Maersk, in an extraordinary move, raise its bunker adjustment factor for its customers. According to an analyst, however, the liner companies do not seem to have successfully passed the fuel bill on to customers.
DSV merges its communications and marketing units as part of the integration of Panalpina. This has resulted in redundancies in Switzerland and Denmark.
Asia will be the driving force of the global economy in the coming years, according to Swiss Kuehne + Nagel. To secure a stronger position in the region, the logistics major combines its two organizations with thousands of employees in Singapore.
The world's second-largest economy grew by just 6.1 percent in 2019. This growth falls in line with expectations.
French shipping line CMA CGM now launches the second stage of the restructuring of its acquisition Ceva Logistics, and this also means the company replaces Ceva CEO Nicolas Sartini.
2020 will be characterized by acquisitions and expansions at Maersk, which plans to be competitive on land in all markets by 2023. "We're starting to have it slightly more under control," says Chief Executive Officer Søren Skou.
Venture investments in the shipping industry saw a total increase last year, but this was due exclusively to a billion-dollar investment in digital freight forwarder Flexport, shows new report.
The price of low-sulfur fuel has increased significantly in 2020, and shipping companies with scrubbers installed are currently profiting on the price spread between high- and low-sulfur fuel oil. This is necessary in order to back the investment, says a dry bulk shipowner.
The Chinese deputy prime minister will travel to Washington, DC, next week to sign a trade agreement, report several media.
Investment firm Blue Ocean Capital gets a new partner, Tommy Mølgaard, who has more than 25 years' experience in the industry, especially under Maersk, where he has been CFO at the group's logistics firm Damco.
Around 100 stakeholders now support shipping's goal to launch CO2-free vessels before 2030. In an interview with ShippingWatch, Global Maritime Forum's managing director explains how the parties will reach the target. Next step is a meeting in Copenhagen.
Data, and the correct data, is a vital piece of information if you aim to reduce a company's carbon footprint from, Global Sustainability Manager Elisabeth Munck af Rosenschöld, IKEA Transport & Logistics Services, tells ShippingWatch.
ShippingWatch offers an overview of the top stories from the days between Christmas and New Year. Read about suspected corruption surrounding Maersk in Brazil, Unifeeder and Union Bulk.
DSV Panalpina's share price increased the most in 2019 when comparing with the other shares on the Danish C25 index, which covers the most traded shares on Nasdaq Copenhagen. The increase is almost 80 percent.
Maersk and not least COO Søren Toft's decision to join competitor MSC attracted the biggest number of readers on ShippingWatch this year. The year's other top stories include DSV's acquisition of Panalpina.
Chinese Merchants Port looks set to get access to the most interesting ports in CMA CGM's portfolio with the recent agreement signed by the two companies. According to Alphaliner, this leaves the French company with the ports that are not particularly attractive.
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