Seatrade and Jamaica Producers in joint-venture to take over Geest Line

One of the longest-serving names in UK shipping is set to disappear, as Geest Line yesterday announced it would be acquired by the world’s largest reefer shipping operator, Seatrade, in a 50:50 JV with Jamaican food specialist Jamaica Producers (JP).
The purchase sum was undisclosed, but in a filing to the Jamaica Stock Exchange, JP CEO Jeffrey Hall suggested the deal was part of its vertical integration strategy.
“This acquisition is a …

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‘Storage in transit’ products expand to head off looming box congestion crisis

MSC has announced four additional container wayport storage hubs as part of its Covid-19 suspension of transit (SOT) offering to shippers looking to avoid congestion and high storage costs at destination ports on non-essential goods.
The SOT product is targeted at shippers that have been unable to cancel or halt orders from Asia and will have containers en route in the coming weeks for markets in lockdown.
Freeport (Bahamas), Gioia Tauro (Italy), …

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CMA CGM finalises terms of sale of 10 terminals to Terminal Link JV

CMA CGM has finalised the terms of its sale of 10 terminals as it seeks to reduce its enormous debt burden.
The French carrier said would receive $968m in cash for the transfer of 10 facilities owned by the line to Terminal Link, a joint-venture. in which it holds 51% and Chinese port operator China Merchants the remaining 49%.
The carrier took strategic stakes in the box terminals: Odessa in Ukraine; the …

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We must all play our part in empowering women in the maritime sector, says MAJ on World Maritime Day

Rear Admiral (ret’d) Peter Brady, Director General of the Maritime Authority of Jamaica, speaks in Jamaica this week.

We must all play our part in empowering women in the maritime sector, says MAJ

Maritime professionals must all play a part in challenging stereotypes and changing mindsets in order to create gender equality across the global shipping industry, Rear Admiral (ret’d) Peter Brady, Director General of the Maritime Authority of Jamaica has urged.

Speaking in Kingston today, on World...

http://www.allaboutshipping.co.uk/2019/09/26/we-must-all-play-our-part-in-empowering-women-in-the-maritime-sector-says-maj-on-world-maritime-day/