Land

Chris Grayling cancels extra ferry contracts, with a £50m bill for taxpayers

Well that’s the end of that. But the cancellation of extra ferry sailings by the UK government will come at a cost – and the £50m is on top of £33m compensation awarded to Eurotunnel and claimed by P&O Ferries. Does it, however, portend to wider implications? “With the date of Brexit pushed back from 29 March to 31 October, the contracts have been cancelled, possibly indicating the government is …

The post Chris Grayling cancels extra ferry contracts, with a £50m bill for taxpayers appeared...

https://theloadstar.com/chris-grayling-cancels-extra-ferry-contracts-with-a-50m-bill-for-taxpayers/

Cosco launches move to make Zeebrugge its North European hub

Cosco has begun to realise its ambitions to turn the Belgian port of Zeebrugge into its major North European hub, according to new analysis from Alphaliner.
The consultant notes how the Chinese shipping line and its Ocean Alliance plan to significantly increase the number of calls at the port, which has been in decline in recent years as transhipment activities in the region have been largely concentrated at Antwerp and Rotterdam.
However, …

The post Cosco launches move to make Zeebrugge its...

https://theloadstar.com/cosco-launches-bid-to-make-zeebrugge-its-north-european-hub/

OOCL to sell Long Beach Container Terminal to investors led by Macquarie

OOCL has agreed to sell its state-of-the-art Long Beach Container Terminal (LBCT) to a group of institutional investors led by Australia’s Macquarie Infrastructure Partners (MIP) for $1.78bn – less than the reported $2bn it cost to build.
The sale is the final condition for Cosco’s takeover of OOCL: last year, the US departments of Homeland Security and Justice decreed the terminal must be divested from the Cosco/OOCL portfolio for the purchase …

The post OOCL to sell Long Beach Container...

https://theloadstar.com/oocl-to-sell-long-beach-container-terminal-to-investors-led-by-macquarie/

The new Ceva’s performance is ‘on target’ as CMA CGM takes full control

CMA CGM is now fully in control of Ceva, holding more than 98%, and is filing a claim to cancel any outstanding shares. 
Following yesterday’s AGM, Ceva announced management changes that will see chief executive Xaiver Urabin, who has turned around the business, become executive advisor to the new chairman, CMA CGM’s Rodolphe Saadé. 
Ceva’s new CEO will be group chief operating officer Nicolas Sartini, while Apollo-appointed Marvin Schlanger, who had a brief period as chief executive and...

https://theloadstar.com/the-new-cevas-performance-is-on-target-as-cma-cgm-takes-full-control/

Analysis: a solid first quarter for DSV – now what’s next for Panalpina?

Denmark’s DSV proved once again today to be the best-in-class 3PL in the marketplace, with solid first-quarter results well ahead of analysts’ expectations.
As a result, its shares shot up to an all-time high of Dkr630.6.
Its core air and freight unit outperformed those of its closest rivals, Kuehne + Nagel, Ceva and Panalpina, while the completion of the takeover of the latter is now brought forward to the end of the third …

The post Analysis: a solid first quarter for DSV – now what’s next for...

https://theloadstar.com/analysis-a-solid-first-quarter-for-dsv-now-whats-next-for-panalpina/

Acquisitions pay dividends for Xpediator as revenues triple and profits soar

UK freight management services group Xpediator saw annual revenue grow 54.1% to £179.2m last year, following a long acquisition spree.
The group posted a pre-tax profit of £5.6m, representing growth of 130.5% over the previous year – and ceo Stephen Blyth told The Loadstar its appetite for M&A would continue this year.
He said: “2019 will be more of the same for us – we get offered more than one deal a week.
How many …

The post Acquisitions pay dividends for Xpediator as revenues triple and...

https://theloadstar.com/acquisitions-pay-dividends-for-xpediator-as-revenues-triple-and-profits-soar/

Supply chain radar: Showdown time looms for DSV – so what gives?

After months of frantic negotiations, deal talk and speculation, we’ll find out tomorrow how challenging the first 13 weeks of 2019 really were for DSV, the king of logistics M&A in the first quarter.
Following the trading updates of Swiss companies Panalpina, its new partner, and Kuehne + Nagel in the past two weeks, here are some numbers to watch when the first-quarter (Q1) trading update of the Danish 3PL is released on …

The post Supply chain radar: Showdown time looms for DSV – so what...

https://theloadstar.com/supply-chain-radar-showdown-time-looms-for-dsv-so-what-gives/

UPS chief determined to stay positive, despite declining profits in Q1

A marginal upturn in revenue failed to compensate for what has been a difficult first quarter for UPS, ending  with a 17% drop in net income.
Despite this, the company had a positive tone during its investor call, turning to adjusted figures to find a glimmer of hope.
And one analyst noted that, while the results were “broadly mixed”, the company had weathered the competitive storm it had faced in recent years …

The post UPS chief determined to stay positive, despite declining profits in Q1...

https://theloadstar.com/ups-chief-determined-to-stay-positive-despite-declining-profits-in-q1/

P&O cries ‘ferry foul’ and demands £33m payout to match Eurotunnel’s

Chris Grayling, UK transport minister, is the gift that keeps on giving: quite literally. 
The latest news from the Brexit shitshow is that P&O Ferries has decided it also wants a government handout – because Eurotunnel got one. 
If you have followed this altogether daft story, you will recall that ‘Failing’ Grayling gave £100m-worth of contracts to Brittany Ferries, DFDS and, infamously, ferry-free Seaborne Freight, for ferry services between UK and the continent …

The post P&O cries ‘ferry...

https://theloadstar.com/po-cries-ferry-foul-and-demands-33m-payout-to-match-eurotunnels/

Deutsche Bahn pondering a sale of DB Schenker?

Heavily indebted German rail operator Deutsche Bahn is reportedly considering offloading its logistics subsidiary, DB Schenker. VerkehrsRundschau, citing sources, claims the sale has been speculated for some months – although last week, Reuters said a company report indicated it would only be looking to sell a minority stake – after DB’s overall debt exceeded €19.5bn. For some, the news may seem surprising, given that Schenker has brought home the bacon for …

The post Deutsche Bahn pondering a...

https://theloadstar.com/deutsche-bahn-pondering-a-sale-of-db-schenker/

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