Analysis: DSV Panalpina and the spoiled kids – next deal now!

The relationship between Denmark’s DSV Panalpina (DSV PAN) and its growing pool of investors is still just like the one between parents and spoiled kids.
Trouble is, no matter what and how much you give them, they always want more.
But the embedded trust and love in that relationship is what really changes the complexity of things and makes it grow over time. With DSV PAN, it’s no different.
Eventful week 
First up 10% …

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Transpac rates at new heights, but reviving blank sailings could muddy the water

Transpacific container spot rates to the US west coast have powered over the $3,000 mark to hit a record level of $3,167 per 40ft.
The US west coast component of today’s Shanghai Containerized Freight Index (SCFI) soared 17% on the back of 1 August GRIs and is now 100% higher than a year ago.
The spot rate surge represents the highest SCFI reading for the west coast in the decade-long history of …

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Conf call redux: CH Robinson’s ‘solid’ 12% drop in net revenue…

The times they are a changin’, when companies can report double-digit falls across their financials and still boast a ‘solid’ quarterly performance. 
This week, CH Robinson, announced Q2 results with a headline 11.6%, drop in net revenues to $614.5m, and operating profits down 17%, to $188.8m.
(Some bright spots? Here. While the growth performance, among others, of integrated logistics firm UPS, is here.)
Hey-ho. Could be worse, not least if you are a furloughed CH …

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Delays at port of Montreal drag on as one strike follows another

Disruption at Canada’s port of Montreal has stretched into a fifth day – as longshoremen ended a four-day industrial action yesterday, port checkers launched a one-day strike this morning.
The timing of the actions was designed to create maximum impact, said one forwarder.
By Thursday afternoon, the longshoremen’s strike had affected about a dozen vessels at the port.
“It is certain that the situation is creating undesirable delays for some carriers, as well …

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CH Robinson ‘still strong’, despite revenue declines in a ‘volatile’ Q2

“Solid”, “strong” and “well-positioned” is how CH Robinson described its second-quarter performance, despite net revenue falling 11.6%, to $614.5m, and income from operations declining by 17%, to $188.8m.
CEO Bob Biesterfeld said: “Despite a volatile environment, we were able to deliver solid performance across all of our business units, due to the tireless efforts of the CH Robinson team members around the world and our diversified portfolio of logistics services.
“We also …

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Shipowners back in the driving seat, with brisk business in the charter market

Containership brokers are reporting “brisk business”, although owners are reluctant to fix for longer periods against rising daily hire rates.
Reflecting the high demand for tonnage, Alphaliner’s idle fleet assessment has recorded a further 62 vessels with some 300,000 teu having found employment in the past two weeks.
The current 313 ships with 1.55m teu in hot or cold lay-up, representing 6.6% of the global fleet, is a vast improvement on the …

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Gebrüder Weiss continues global expansion plan with stake in Ibsen

Covid-19 does not appear to have held back the expansion ambitions of Gebrüder Weiss, which has invested heavily in recent months.
Its latest news is that it has taken over “large parts” of the operational side of Ibsen Logistics, continuing its strategy of boosting its air and sea division.
Ibsen employs 500 staff in air and sea, 180 of which are spread through eight German locations, which will give Gebrüder Weiss a stronger foothold …

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Antwerp weathers the pandemic storm – Benelux box ports report mixed results

Blanked sailings and network changes resulted in a mixed bag of throughput results at North Europe’s top two container hubs, Rotterdam and Antwerp, in the first half of the year.
With the three east-west carrier alliances cancelling more than 20% of sailings from Asia to Europe at the peak of the Covid-19 lockdowns in Q2, the carriers reshuffled their pack of retained loops to offer shippers alternative loaders.
While all the container …

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Fury at Australian ports as terminal operators impose sudden access fee hikes

Stevedores in Australia have implemented “staggering” increases to terminal access charges and road and rail operators are lobbying for their cancellation.
On Monday, Hutchison Ports increased the charge on all containers delivered to and from its Brisbane facility by 90% to A$94.78 (US$68).
And, from Saturday, ICTSI’s Victoria International Container Terminal (VICT) in Melbourne will impose a 7% increase to A$131.03 per container, still the most expensive national charge.
The move by Hutchison...

https://theloadstar.com/fury-at-australian-ports-as-terminal-operators-impose-sudden-access-fee-hikes/

Container chaos at Chittagong port as Eid holiday begins

Ligentia has warned customers that Chittagong port is experiencing a high volume of shipments before the Eid holiday begins tomorrow.
It said volumes, up some 35%, were “causing enormous pressure on the port and container freight station operations”.
Flows had become stagnant and import releases have “drastically reduced”, it said, “which has impacted most of the major shipping lines”.
It added: “Hapag-Lloyd, Maersk, CMA, YML, ONE and MSC have already declared on this, …

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