• Freight Forwarding Agents Should Take the Chance to Train Furloughed Staff Online Ready for Brexit 20200402
    UK – In a world of uncertainty freight forwarders are being reminded that there is still a train coming down the track they need to pay heed to. With all thoughts on the virus, the spectre that is Brexit is very real, negotiations may be currently delayed but those organisations that need to be ready for the potentially career changing Customs regulations, particularly those who have furloughed st...
  • China Shipping bulletins on April 1,2020 20200402
    1.LGM Engineering, formerly known as Gloryholder LGM, has secured a deal to supply an LNG fuel gas supply system to Dalian Shipbuilding Industry (DSIC). 2.CSSC (Hong Kong) Shipping Company released it full year financial results for 2019, boasting a 26.3% increase in net profit to HK$892.24m (US$115.87m). 3.Edward Liu, legal director with Hill Dickinson Hong Kong, has been appointed as a member of...
  • Laden LNG tanker heading to China from U.S., first since March 2019 20200401
    A liquefied natural gas (LNG) tanker which loaded a cargo from the United States is currently heading to China, the first shipment since March 2019, according to shiptracking data from Refinitiv Eikon and Kpler on Monday.The tanker SK Resolute loaded the cargo from the Cameron LNG terminal on March 22 and was originally headed to Cristobal, Panama, according to shiptracking data from Refinitiv Eik...
  • COSCO SHIPPING Holdings Announces 2019 Annual Results 20200401
    On March 30, COSCO SHIPPING Holdings Co., Ltd. (“COSCO SHIPPING Holdings” or “the Company”) (SSE: 601919; HKEx: 1919) announced its 2019 annual results.In 2019, global economic and trade situation faced severe challenges. Economic growth had hit a new low since the financial crisis, and the demand growth in container shipping had slowed year-on-year. However, in the face of challenges, COSCO SHIPP...
  • Maersk Product Tankers delivers improved financial results 20200401
    Maersk Product Tankers reported improved financial results in 2019, with an increase in revenue to USD 727.7 million (USD 647 million) and a profit before tax of USD 91.4 million (a loss of USD 35 million).Freight markets improved across all tanker segments, especially in the fourth quarter, and in line with Maersk Product Tankers’ expectations. The primary drivers were a continued growth in deman...
  • China Shipping bulletins on March 30,2020 20200331
    1.On March 25, 2020, COSCO SHIPPING (North America) Inc. donated 1,000 N95 masks to the Town of Secaucus, where the North America Headquarters is located. 2.OOCL says that its China New Zealand Service (CNS) will offer the fastest transit times for southbound shipments from northeast Asia to Wellington, New Zealand. 3.The ground-breaking and global business promotion ceremony of Qingdao Internatio...
  • Ocean freight rates rise despite volume slump 20200331
    Container freight rates on the major East-West trades are on the rise, but with first quarter volumes decimated and demand under threat as coronavirus shuts down Europe and the US, lines face an upward battle through 2020.A.P.Moller–Maersk(Maersk)suspended its guidance for 2020 on Friday (20 March), citing “material uncertainties and lack of visibility related to the global demand for container tr...
  • Innovation ‘crucial’ for forwarders managing Covid-19 challenges 20200331
    Faced with global cargo capacity crunches in both air and ocean freight as a result of Covid-19, along with major changes in demand patterns, Hong Kong-based freight forwarder and logistics group U-Freight said innovative thinking will be crucial while dealing with the difficulties faced by international supply chains. U-Freight Group said its operations around the world are working “as normally a...
  • European Logistics Stakeholders Issue a Communique to Ruling Authorities 20200330
    EUROPE – As the true seriousness of the Covid-19 virus effect on the very fabric of society becomes apparent, over 30 stakeholders from the transport sector have come together to address the European authorities with the aim of impressing them with the relevance and importance of their collective sectors of the industry.The group consists of a variety of European associations representing transpor...
  • China oil imports in Jan-Feb from Saudi Arabia rise 26% from year ago 20200330
    China’s crude oil imports in the first two months of 2020 from top supplier Saudi Arabia rose 26% from a year earlier, while purchases from No. 2 supplier Russia gained 11%, Reuters’ calculations based on customs data showed on Wednesday.China’s total crude oil imports during January and February rose 5.2% from the previous year to 10.47 million barrels per day (bpd), according to preliminary data...
  • Multimodal Exhibition is Just One of Many Logistics and Transport Events to Fall Victim to Virus 20200329
    UK – WORLDWIDE – Cancellations, postponements and adjustments due to the Covid-19 coronavirus outbreak continue with news this week that the IRX/eDX show in Birmingham scheduled at the NEC for 1 - 2 April has been put off until further notice. IRX/eDX covers internet retailing and as such is of interest to a variety of logistics interests. Another big NEC show now on the back burner is the ever po...
  • Hu Guangjie becomes President of CNOOC 20200329
    On March 20, CNOOC announced that Mr. Hu Guangjie was appointed as the companys executive director and president; Mr. Xu Keqiang resigned as the companys president, while continuing to serve as the companys executive director and CEO. Hu Guangjie, born in July 1973, is a senior engineer with a bachelors degree in Petroleum Engineering of Chengdu University of Technology and a masters degree in oil...
  • Forwarder reports steady recovery in China-UK volumes 20200328
    UK-based independent freight forwarder Davies Turner (DT) is seeing a steady recovery in Chinese export and import volumes as the spread of Covid-19 has slowed and the country’s economic activity has picked up.“We estimate that levels are currently approximately 60% those we witnessed prior to the Chinese New Year and the subsequent Coronavirus outbreak,” the company’s head of Supply Chain Service...
  • Online Payment Platform Offers Help to Freight and Shipping Groups to Beat the Virus Blues 20200328
    US – WORLDWIDE – PayCargo, the online payment platform which transfers money swiftly between payers and vendors, being based in Florida is probably more used to dealing with hurricane warnings than the current virus outbreak. Now however the company has launched a new service to help the freight and shipping community, as it contends with widespread challenges across the supply chain due to the gl...
  • China Shipping bulletins on March 26,2020 20200327
    1.On March 20th, 2020, Yangfan Group Inked a newbuilding contract of four (4) 1,868TEU containerships from Zhejiang Haigang Shipping Limited. 2.Chinas foreign trade sector has the resilience and growth potential to weather the impact of the novel coronavirus disease (COVID-19). 3.Total net oil and gas production of CNOOC amounted to 506.5 million barrels of oil equivalent, exceeding 500 million ba...
  • Shipping Line Hit with Huge Fine for Another Deliberate Act of Pollution 20200327
    US – Singapore-based shipping company,Unix Line, has been sentenced to pay a fine of $1.65 million, placed on probation for a period of four years, and ordered to implement a comprehensive Environmental Compliance Plan as a special condition of probation, after pleading guilty to a violation of the Act to Prevent Pollution from Ships.In yet another in what seems an endless line of such cases this ...
  • China foreign trade maintains sound momentum despite COVID-19 impact 20200327
    Chinas foreign trade sector has the resilience and growth potential to weather the impact of the novel coronavirus disease (COVID-19), a national trade promotion agency said.With strong competitiveness, a stable industrial chain and rapid development of new business formats, Chinas foreign trade sector will remain sound growth momentum in the long term, said Gao Yan, head of the China Council for ...
  • China Shipping bulletins on March 25,2020 20200326
    1.ICS stepped up its campaign to keep global supply chains open by issuing an open letter to G20 Governments due to meet. 2.More than 800 cases of laboratory-confirmed COVID-19 cases and 10 deaths occurred during outbreaks on three cruise ship voyages. 3.OCIMF has issued an update to its COVID-19 bulletin, which gives further guidance on Ship Inspection Report Programme (SIRE)/Offshore Vessel Insp...
  • Europe Open Green Lane Borders for Freight Transport to Support the Supply Chain Against the Virus 20200326
    EUROPE – Earlier this week the European Commission (EC) issued new practical advice on how to implement its Guidelines for border management, the so called Green Lanes policy, in order to keep the supply chain linked and freight moving across the EU during the current pandemic.The change saw instructions issued to all member states to designate, without delay, all the relevant internal border-cros...
  • Demand for freighters ‘extraordinarily high’ 20200326
    Demand for freighters is currently “extraordinarily high”, primarily due to the resurgence in production in China as the spread of the coronavirus there stabilises coupled with a dearth of bellycargo capacity following the suspension of airline passenger services on Chinese routes.The US’ travel ban on European countries is also contributing to the rush to secure maindeck solutions as up to 80% of...
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