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DB Schenker: Customer Advisory COVID-19 Global Update

DB Schenker has updated its customer advice on its website.
“Please find in the below the most recent edition of the the COVID-19 global customer advisory update (released twice a week), targeted to give you guidance and orientation. Your account team is continuously updated about the evolving situation and our solutions on how to react to it. Please continue to be engaged with your account managers on your latest plans, prices, …

The post DB Schenker: Customer Advisory COVID-19 Global Update...

https://theloadstar.com/db-schenker-customer-advisory-covid-19-global-update/

BIFA: coronavirus and force majeure

BIFA has put out an updated article on force majeure, and when and how it applies. Top tips are to collect evidence to show what you have reasonably tried to do to prevent harmful consequences and, perhaps even more importantly, communicate. With everyone.
“In these sorts of situations communication is very important, as customers need to know what the likely consequences are concerning their shipments.” Worth a read if you need …

The post BIFA: coronavirus and force majeure appeared first on The...

https://theloadstar.com/bifa-coronavirus-and-force-majeure/

OOCL 2019 carryings and revenue up, but pessimism rules the waves this year

Cosco Shipping subsidiary Orient Overseas (International) Ltd (OOIL) reported a net profit of $195m for 2019, after excluding the one-off $1.15bn profit from the sale of its Long Beach Container Terminal.
This compares with a net profit of $108m earned the year before, and maintains its reputation as one of the “best in class” ocean transport groups.
Group revenue increased by 4.7% year on year to $6.88bn.
However, OOIL said the outlook “has …

The post OOCL 2019 carryings and revenue up, but...

https://theloadstar.com/oocl-2019-carryings-and-revenue-up-but-pessimism-rules-the-waves-this-year/

Call to ‘designate seafarers as key workers’ to keep supply chains moving

The shipping industry has called for seafarers to be designated as key workers, to keep vital maritime supply chains flowing.
In a joint letter to the the UN, the International Chamber of Shipping (ICS) and the International Transport Workers’ Federation (ITF) say the world’s governments must ensure ports remain open, while facilitating crew changes with as few obstacles as possible.
They wrote: “Every month, around 100,000 seafarers need to be changed over …

The post Call to ‘designate...

https://theloadstar.com/call-to-designate-seafarers-as-key-workers-to-keep-supply-chains-moving/

The mathematical conundrum called the ‘knapsack problem’

While you’re kicking your heels at home wondering how remote working is supposed to fill eight hours of a day without endless meetings, here’s a problem for the mathematicians in the shipping sector to get their heads around, courtesy of the wonderful Smithsonian Magazine. It describes the ‘knapsack problem’, which pervades almost every aspect of our lives, and one which containership stowage planners wrestle with on a daily basis. It …

The post The mathematical conundrum called the ‘knapsack...

https://theloadstar.com/the-mathematical-conundrum-called-the-knapsack-problem/

Coronavirus may lead to ‘largest decline in shipping volumes in living memory’

As the retail industry across Europe and North America begins to effectively shut down as governments enforce widespread social lockdown, there are increasing warnings that the container shipping industry is set to see some of the largest declines in volumes in living memory.
According to liner analyst SeaIntelligence Consulting, the possibility of a 10% decline in global container shipments – which would equate to 17m teu carried by the world’s box …

The post Coronavirus may lead to ‘largest...

https://theloadstar.com/coronavirus-may-lead-to-largest-decline-in-shipping-volumes-in-living-memory/

Maersk bins its 2020 financial guidance, due to impact of pandemic

Despite its expectations of delivering a better first-quarter result than last year, Maersk said today it was suspending its guidance on full-year earnings as a result of the coronavirus outbreaks around the world.
It said the global pandemic was severely impacting global transport and supply chains, “leading to material uncertainties and lack of visibility”.
It added that while its global operations were “running as normal”, it had decided to suspend its 2020 …

The post Maersk bins its 2020...

https://theloadstar.com/maersk-bins-its-2020-financial-guidance-due-to-impact-of-pandemic/

Disciplined capacity management by carriers keeps freight rates in line

Continued discipline over capacity management by container lines managed to keep freight rates from tumbling this week as increased levels of factory production in China began to be offset by coronavirus crisis that has gripped Europe and North America.
Last week’s double-digit gain on the transpacific headhaul route from China to the US west coast on the SCFI was reversed this week, with its Shanghai-USWC rate dipping 3.8% to $1,549 per feu.
Similarly, …

The post Disciplined capacity management...

https://theloadstar.com/disciplined-capacity-management-by-carriers-keeps-freight-rates-in-line/

Force majeure: getting it wrong can be a very expensive business

DHL Global Forwarding has declared force majeure on its sea and air freight contracts, allowing it to modify its services despite the agreements.
Invoking force majeure allows companies to protect themselves from legal responsibility, something forwarders have been particularly concerned with.
However, insurance companies are advising caution before invoking the clause.
“Force majeure is defined as ‘an event, or a series of related events, that is outside the reasonable control of the party …

The...

https://theloadstar.com/force-majeure-getting-it-wrong-can-be-a-very-expensive-business/

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