Sea

Cash-strapped CMA CGM to sell terminals and ships despite Q3 profit

CMA CGM posted a $45m net profit for the third quarter, reducing the French transport and logistics group’s nine-month loss to $107m.
The number of containers carried in Q3 rose by an above-market par 5.1% on the same quarter of 2018, to 5.5m teu, which it attributed mainly to growth from its shortsea business, including the integration of Containerships.
However, excluding CEVA Logistics revenue, turnover fell 3%, to $5.88bn, as freight rates …

The post Cash-strapped CMA CGM to sell terminals...

https://theloadstar.com/cash-strapped-cma-cgm-to-sell-terminals-and-ships-despite-q3-profit/

CINS publishes first guidelines to help reduce containership fire risk

A container shipping group, set up to increase safety levels in the industry following a string of sometimes fatal box ship fires, has produced its first set of guidelines to help operators prevent further incidents.
The Cargo Incident Notification System (CINS) today published Safety Considerations for Ship Operators Related to Risk-Based Stowage of Dangerous Goods on Containerships, specifically in response to “a number of serious fire incidents in recent years, often …

The post CINS publishes...

https://theloadstar.com/cins-publishes-first-guidelines-to-help-reduce-containership-fire-risk/

Transpacific spot rate slump continues amid global trade uncertainty

Today’s Shanghai Containerized Freight Index (SCFI) saw spot rates tumble again on the transpacific, as softening demand reflected the impact of US tariffs on Chinese imports.
Rates from Asia to US west coast ports, as recorded by the SCFI, slumped a further 9% this week to $1,229 per 40ft, as shippers rowed back on front-loading to beat new import tariffs on 15 December.
However, for the more robust lane to the US …

The post Transpacific spot rate slump continues amid global trade uncertainty...

https://theloadstar.com/transpacific-spot-rate-slump-continues-amid-global-trade-uncertainty/

Capacity cuts on North Asia-Australia container trade as demand plummets

Shipping lines are cutting container services between North Asia and Australia as plummeting freight demand reaches “breaking point”.
According to Alphaliner, streamlining services on the North Asia-China-Australia trade will remove around 4,500 teu of weekly capacity and make five classic panamax ships redundant.
For example, Alphaliner said, the joint Australia Express service by ONE, Yang Ming, Evergreen, APL and Hapag-Lloyd would be closed in its current form; as will a service jointly …

The...

https://theloadstar.com/capacity-cuts-on-north-asia-australia-container-trade-as-demand-plummets/

Market insight: As Toft joins MSC, will all the crew stay on the ship?

One of the side stories related to the shocking appointment of Søren Toft as chief executive officer of MSC is obviously the personal turmoil and drama that many other senior managers at the company he is joining are going through.
For one thing, it’s still unclear when Mr Toft will start with his new employer.
MSC sources say that the recently distributed global internal circular just mentioned that his onboarding date will be …

The post Market insight: As Toft joins MSC, will all the crew stay...

https://theloadstar.com/market-insight-as-toft-joins-msc-will-all-the-crew-stay-on-the-ship/

Analysis: Søren Skou adds a T&T variable to the AP Møller-Mærsk mix

Mid-way through last week’s call between the management team of AP Møller-Mærsk (APMM) and sell-side analysts – when we were all busy paying attention to other matters – CEO Søren Skou (pictured above) introduced a new slide (see below) to the typical quarterly presentation of the Danish integrator of container logistics, noting:
“Slide 22, we are now providing you with some new disclosure on our gateway terminals business. What we have here is the …

The post Analysis: Søren Skou adds a T&T...

https://theloadstar.com/analysis-soren-skou-adds-a-tt-variable-to-the-ap-moller-maersk-mix/

Study on shipping alliances makes EC exemption decision ‘puzzling’

There is an interesting piece on LinkedIn, questioning why the EC decided to extend the liner shipping block exemption for another four years. The writer, Pablo Rodas-Martini, takes “devastating” excerpts from the study done by the International Transport Forum (ITF) and the OECD titled The Impact of Alliances in Container Shipping.
The paragraphs he highlights are unequivocally damning about alliances, and (when read in isolation), they do indeed make one “puzzled” about …

The post Study on...

https://theloadstar.com/study-on-shipping-alliances-makes-ec-exemption-decision-puzzling/

EC set to extend liner shipping consortia exemption for four years

The European Commission has indicated it is set to extend liner shipping’s consortia exemption from its antitrust regulations.
The Block Exemption Regulation (BER) container shipping lines have enjoyed since April 2014 was set to expire next April, and in the run-up to the deadline, the EC has been holding consultations with industry stakeholders.
In draft regulation paper published yesterday, the EC proposes extending the EU Consortia Block Exemption Regulation until 25 April …

The post EC set...

https://theloadstar.com/ec-set-to-extend-liner-shipping-consortia-exemption-for-a-further-four-years/

Robert Gutsche to take over as CFO at Röhlig Logistics

Robert Gutsche (pictured above) has been appointed as the new chief financial officer of Bremen-based 3PL Röhlig Logistics.
He will assume his new role on 1 March 2020 and succeeds Hans-Ludger Körner, “who will take on new professional challenges”.
Philip Herwig, managing partner of Röhlig Logistics, said: “We are pleased to gain such a highly experienced manager with an international orientation for our board.
“At the same time, we would like to thank …

The post Robert Gutsche to take over as...

https://theloadstar.com/robert-gutsche-to-take-over-as-cfo-at-rohlig-logistics/

On the wires: ZIM – For me, this is a financial transition to nowhere

“In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019. While the challenges in the market endure (…) our ongoing efforts in the spheres of customer experience and digitalisation also bear fruits, as we continue to focus on our customers’ needs and push for commercial excellence in all fields.” – Eli Glickman, ZIM president and CEO, 20 November. 
Reading the above remarks you …

The post On the wires: ZIM – For me, this is a...

https://theloadstar.com/on-the-wires-zim-for-me-this-is-a-financial-transition-to-nowhere/

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