Sea

Market Insight: Ceva & the Big Four – riding the job cuts rumour wave

Wondering what’s coming ahead of an earnings season that, for all of us asset-light transport and logistics addicts, frantically opens on Monday with Kuehne + Nagel’s first-quarter (Q1) trading update?
Everybody is projecting to Q2 ’20 results and we are already mid-way through. It looks like being a terrible second quarter with many rumoured job cuts. The latest concern furloughed employees and likely upcoming corporate casualties are high on the agenda, …

The post Market Insight: Ceva & the...

https://theloadstar.com/market-insight-ceva-the-big-four-riding-the-job-cuts-rumour-wave/

Container spot rates from Asia holding steady, despite carrier shortcomings

Ocean carriers are succeeding in propping up container spot rates from Asia, partly due to poorly communicated blanking programmes creating uncertainty for shippers.
Several have complained to The Loadstar that they receive late, confusing and often conflicting advice from carriers on blank sailings – even from container lines in the same alliance.
Moreover, shippers are finding that, where bookings are being rolled onto other loops, those services are not necessarily discharging their …

The...

https://theloadstar.com/container-spot-rates-from-asia-holding-steady-despite-carrier-shortcomings/

To ‘fire or to furlough’? That is the tough question for some employers

Companies have been warned to “weigh their options carefully” when considering making staff redundant instead of furloughing them.
Under UK schemes, companies can temporarily lay-off staff while the government pays the majority of their wages. But according to a survey by People Management and human resources association CIPD, one in four companies are also considering permanent redundancies.
According to Loadstar Premium today, Ceva Logistics could be on the verge of cutting a significant …

The...

https://theloadstar.com/to-fire-or-to-furlough-that-is-the-tough-question-for-some-employers/

Uncleared import boxes clogging India’s ports being used as ‘free warehousing’

There seems no end in sight to the congestion choking India’s ports.
According to the Container Shipping Lines Association of India (CSLA), tens of thousands of uncleared import containers are clogging supply chains amid the nationwide coronavirus lockdown.
CSLA executive director Sunil Vaswani said only 26,000 teu had been cleared from container freight stations (CFSs) near Mumbai’s Jawaharlal Nehru port, leaving more than 100,000 teu lying uncollected.
“Similarly, about 50,000 teu is lying …

Th...

https://theloadstar.com/uncleared-import-boxes-clogging-indias-ports-being-used-as-free-warehousing/

New intra-Asia sea freight services pick up the slack from grounded air capacity

New intra-Asia container shipping services are keeping rates down and competition up, and even picking up the slack for the region’s lack of air cargo capacity.
Carriers have launched services covering South-east Asian ports, Mr Sundara, Asia Pacific ocean freight director at Scan Global Logistics (SGL), told The Loadstar.
“There’s ample space and rates are competitive. Global carriers are utilising space between intra-Asia moves, which is also putting pressure on the region’s niche carriers.”
T...

https://theloadstar.com/new-intra-asia-sea-freight-services-pick-up-the-slack-from-grounded-air-capacity/

HMM launches world’s biggest box ship – but its first voyage may be the last

As South Korean shipping line HMM today formally launched the world’s largest containership, the country’s government outlined an enormous financial package to prop up its maritime industries.
According to a report in The South Korea Herald, the ministry for oceans and fisheries has set aside SKw1.25trn (US$1bn) to help shipping lines, shipyards and other maritime players.
Minister Moon Seong-hyeok said: “The shipping firms are expected to suffer more serious damage after the …

The post HMM...

https://theloadstar.com/hmm-launches-worlds-biggest-box-ship-but-its-first-voyage-may-be-the-last/

New York terminal scrambles to block Maersk early exit

From American Shipper comes the news that North American terminal operator Global Container Terminals (GCT) has requested an emergency restraining order from a New York court to prevent Maersk and Hamburg Süd from moving their vessel calls to the APMT-controlled facility at Port Elizabeth in New Jersey.
According to American Shipper, Maersk has notified GCT it intended to move to Port Elizabeth on 1 May, but under the terms of the …

The post New York terminal scrambles to block Maersk early exit

https://theloadstar.com/new-york-terminal-scrambles-to-block-maersk-early-exit/

Blank sailings tally on major tradelanes for next month tops 300 – so far

Covid-19 lockdown restrictions on consumers, particularly in Europe and the US, has resulted in a dramatic slump in demand for container space and forced ocean carriers to blank hundreds of sailings.
According to the latest data from Copenhagen-based maritime and supply chain intelligence company eeSea, carriers have so far cancelled 302 headhaul voyages in May across the major tradelanes – 11% of the 2,693 proforma sailings.
That number is likely to increase …

The post Blank sailings tally on...

https://theloadstar.com/blank-sailings-tally-on-major-tradelanes-for-next-month-tops-300-so-far/

DFDS lays up 12 of its 50 ferries as first-quarter profits decline

Danish ferry group DFDS has laid up around 20% of its capacity – 12 of its 50-strong fleet – in response to the coronavirus pandemic.
And it has revealed that it expects first-quarter profits to have fallen 10%, year on year.
In addition to closing two routes last month – Oslo-Copenhagen and Newcastle-Amsterdam, which were more reliant on passenger revenues – chief executive Torben Carlsen said some 25% of its cross-Channel departures …

The post DFDS lays up 12 of its 50 ferries as first-quarter...

https://theloadstar.com/dfds-lays-up-12-of-its-50-ferries-as-first-quarter-profits-decline/

Brexit transition must be extended, or freight operators won’t cope, says BIFA

The freight industry will be unable to cope with significant change in the UK’s trade terms with Europe, if the Brexit transition period is not extended, says BIFA.
BIFA director general Robert Keen labelled a refusal to extend the period as “very risky”.
He said: “BIFA members are in no position to respond to a second massive shock if there is significant change in the terms of trade with the EU at …

The post Brexit transition must be extended, or freight operators won’t cope, says BIFA...

https://theloadstar.com/brexit-transition-must-be-extended-or-freight-operators-wont-cope-says-bifa/

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