Severe congestion at Chinese ports is easing, say officials and industry participants, although a logjam of refrigerated containers has disrupted supplies of fresh and frozen food and pushed up freight rates outside China.Thousands of refrigerated containers carrying meat, seafood and fruit from around the world to China have been stuck for weeks at the countrys ports after Beijing extended its Lu...
The IMO Headquarters building is closed to visitors and staff, on Thursday 12 and Friday 13 March, as a precautionary measure due to the COVID-19 virus. This follows the 11 March assessment by the World Health Organization (WHO) that COVID-19 can be characterized as a pandemic.The IMO Secretary-General and the Organization’s Senior Management Committee are monitoring the situation closely. IMO sta...
1.Coronavirus infections in China have markedly declined in recent weeks, but the Asian giant’s economic recovery may be held back by the global outbreak, 2.Taiwans Evergreen has rolled out online booking platform, GreenX to provide shippers and forwarders instant quotes and allow them to book space with prioritised equipment within minutes. 3.The 70,000 DWT wood chips ship was launched on 10th M...
Air freight prices are spiking as a perfect storm of demand and supply factors drives up rates.FIS reports a sizeable surge in prices this week, with China-US rates up 43 cents per kg, China to Europe up 23 cents and intra-Asia traffic up over 22% week-on-week.Brian Wu, chairman of the Hong Kong Association of Freight Forwarding (Haffa) and director of BEL International Logistics Limited, toldLloy...
On March 10, COSCO SHIPPING Specialized Carriers issued an announcement saying that Ding Nong resigned as chairman due to job changes.The board of directors of COSCO SHIPPING Specialized Carriers elected Mr. Chen Wei as the chairman of the companys seventh board of directors.The data shows that the term of chairman Ding Nong is from September 2017 to December 2021. Chen Wei previously served as di...
A total of five international liner ship lines departing from Guangzhou Port have been launched from Feb 27 to March 7, mainly heading to Southeast Asian countries.The line running between South Korea and Xinsha Port of Guangzhou Port in Guangdongs Dongguan was launched on Feb 27. The line, which passes areas including Ulsan, Busan, Hong Kong, Guangzhou, and Xiamen, was expected to transport cold ...
China will lower the service charges of ports to optimize the business environment and promote the work resumption of logistics firms, according to an official circular.The circular, issued by the Ministry of Transport and the National Development and Reform Commission, said port charges for cargo and facilities security will be cut by 20 percent from March 1 to June 30.The measure is expected to ...
1.Ministry of Transport and the National Development and Reform Commission said port charges for cargo and facilities security will be cut by 20 percent from March 1 to June 30. 2.A total of five international liner ship lines departing from Guangzhou Port have been launched from Feb 27 to March 7, mainly heading to Southeast Asian countries. 3.The Export-Import Bank of China overcame many difficu...
UK – Swiss headquartered freight forwarding groupKuehne + Nagelhas agreed to sell of much of its UK contract logistics portfolio. The buyer isXPO Logisticsand the transaction will include drinks logistics, food services and retail and technology businesses, operations which together accounted for over ￡600 million utilising 7,500 staff in 2019.Despite previous announcements hinting at a reorganisa...
Hong Kongs Orient Overseas Container Line (OOCL), now a Cosco unit, has made changes to its Pacific West Coast (PCN1) and Vietnam China South (VCS) services on the Trans-Pacific trade, which came into effect two days ago.On its Pacific China North 1 (PCN1) service, OOCL said that to ensure sustainable and quality services, the new PCN1 will call Seattle instead of Oakland.The new PCN1 port rotatio...
Finally, some good news about the coronavirus and global supply chains: Cargo volumes and ship calls have swiftly rebounded at Chinese ports, confirming that the cogs of global trade are grinding back into motion.The caveat is that this was to be expected as Chinese port workers and truckers returned after an extended Chinese New Year (CNY) holiday. Inbound and outbound cargo delayed during the po...
1.Cargo volumes and ship calls have swiftly rebounded at Chinese ports, confirming that the cogs of global trade are grinding back into motion. 2.Without OPEC+’s help to steady the market, U.S. benchmark prices could fall toward $30 a barrel as COVID-19 feeds a decline in demand for oil. 3.On March 5, HUANGHAI GLORY, a Hong Kong flag cargo ship with 23 Chinese seafarers on board, was attacked by a...
DUBAI –PO Maritime Logisticshas appointed Martin Helweg as its new Chief Executive Officer. For the past 3 years, Helweg has been responsible for PO Maritime Logistics’ global operations. He will report to Mike Bhaskaran, DP World’s Chief Operating Officer for Logistics and Technology.PO Maritime Logistics was created last year following DP World’s acquisition of Topaz Energy and Marine and its in...
The International Chamber of Shipping (ICS) has issued brand new guidance for the global shipping industry to help combat the spread of the Coronavirus (COVID-19). The comprehensive 22-page document has been produced in collaboration with prominent international bodies including:? The World Health Organization (WHO)? The International Maritime Organization (IMO)? The European Centre for Disease Pr...
1.China State Shipbuilding Corp. has raised 5 billion yuan ($718.2 million) by selling so-called “coronavirus bonds” to replenish working-capital facilities that were severely depleted by the coronavirus outbreak. 2.The International Chamber of Shipping (ICS) has issued brand new guidance for the global shipping industry to help combat the spread of the Coronavirus (COVID-19). 3.The Tianjin Port G...
COSCO SHIPPING International(Hong Kong) announced yesterday that from March 4, 2020, Wang Yuhang resigned as the companys executive director and chairman of the board due to job adjustments. On the same day, Zhu Jianhui, executive director, deputy chairman and general manager of the board of directors, was appointed as chairman of the board. A personnel appointment of COSCO SHIPPING International...
1.Another Princess Cruise Ship Grand Princess carrying more than 2500 passengers is caught up in coronavirus outbreak. 2.Chinese buyers have been allowed to apply for import tariff exemptions for US coking coal starting March 2. 3.Taiwans regional carrier Wan Hai Lines is to purchase a pair of container carriers from Singapores Pacific International Lines (PIL). 4.The global shipping industry risk...
Intra-Asia air freight prices have surged to record levels in the last two weeks as factories in Asia resume production and restock with supplies of components, in what some believe could be a lead indicator for what may happen in the next few weeks for intercontinental volumes from China, once production ramps up more fully again. One major global cargo charter and freighter operator has reporte...
On March 4, Shibei District of Qingdaosigned a strategic cooperation agreement with V.Group, the worlds largest ship management company, in the form of online video, and the project of China seafarers headquarters base settled in Shandong Marine Industrial Park. V.Group is the worlds largest ship management company, headquartered in the United Kingdom. At present, it has more than 60 branches in ...
1.An operator of a restaurant cruise ship in Kobe said Monday it has filed for bankruptcy after being hit by a series of cancellations since January due to the new coronavirus outbreak. 2.On Tuesday, two German passengers aboard the cruise ship AIDAaura were tested negative for coronavirus after German authorities learned that they had been in contact with a confirmed case. 3.Chinas finance minist...
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