Author: Steven

On The Loadstar Podcast: USWC dockworker negotiations cloud contract talks; new legislative threat to alliances; high inventories hit rates Source

Supply chain leaders have expressed concern over the UK’s admission to the CPTPP, saying that capacity issues have not been addressed. Source

Ashwin Bhat is to become chief executive of Lufthansa Cargo in April, following the departure of Dorothea von Boxberg. Source

PRESS RELEASE MONTREAL, March 30, 2023 – Air Canada Cargo today announced the start of operations for its Boeing 767 freighter to Liege, Belgium, connecting a key European destination to Toronto and the carrier’s extensive global network. Flights will operate twice per week to Liege, with service increasing to three flights per week later in the year. Service will…

Some 23 transport ministers, met on the border with Ukraine to begin a process that could see Eastern European transport links transformed Source

CH Robinson is advertising for a new head of forwarding in Europe. But is it going about its recruitment in the wrong way? Source

Is AP Moller Capital's purchase of Vector Logistics just a play to flip it at a profit when the market turns? Source

China Merchants Energy Shipping (CMES), China's second largest state shipping group, has placed orders for two 9,300-unit methanol PCTCs. Source

It has been a busy period for charter and on-demand cargo lately for National Air Cargo, especially with the need for humanitarian shipments. Source

Florian Braun has become the new chief operating officer of Rhenus Air & Ocean, following his departure from Flexport. Source

Maersk’s $31bn operational profit last year will see it return nearly $11bn to its shareholders but its 2023 guidance is a more modest $2-5bn Source

BLOOMBERG reports: Cainiao Network Technology Co., the logistics arm of Alibaba Group Holding Ltd., has started preparations with banks for its Hong Kong initial public offering, people familiar with the matter said, paving way to be the first of the Chinese tech firm’s six business units to go public. Banks including China International Capital Corp. and Citigroup Inc. are working…

Charles Hugh Smith writes: (The market and the government will continue to promote and support a neofeudal status quo until they are forced by society to restore the common good and opportunity.) Of the three primary dynamics of human endeavor–the market, government and society–we focus almost exclusively on the first two. Society is rarely considered as…

PRESS RELEASE  Mar 30, 2023, 16:01 ET PHOENIX, March 30, 2023 /PRNewswire/ — Nikola Corporation (Nasdaq: NKLA) today announced that it has commenced an SEC-registered underwritten public offering of up to $100.0 million of shares of its common stock, before deducting underwriting discounts and commissions and other offering expenses. Nikola expects to grant the underwriter a 30-day…

OILPRICE.COM reports: China has just completed its first trade of liquefied natural gas (LNG) settled in yuan, the Shanghai Petroleum and Natural Gas Exchange said on Tuesday. Chinese state oil and gas giant CNOOC and TotalEnergies completed the first LNG trade on the exchange with settlement in the Chinese currency, the exchange said in a statement carried…

BARRON’S reports: China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing’s latest salvo against the almighty greenback. The deal will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to…

Cathay Pacific and the State Power Investment Corporation will drive development of the Sustainable Aviation Fuel supply chain in China Source

PRESS RELEASE (March 30, 2023) – WebCargo by Freightos, the leading cargo booking and payment platform, has partnered with three of China’s leading master loaders to offer global forwarders real-time access to Chinese air cargo export capacity. This innovation allows the thousands of forwarders on WebCargo across Europe and North America to compare prices, book and…

Insights about the Ceva Logistics restructuring keep coming our way, as does the loose speculation about a new trade partner for the Marseille-based 3PL, just as the rumoured April M&A deadline approaches fast. That latter side of things is rather irritating, with the M&A pendulum currently swinging “backward and forward between pain and boredom”, if…

The Deutsche Bank hangover at least momentarily forgotten, today was a great day for Danish forwarder DSV after a couple of good trading sessions on the stock market. Its shares hit a one-year high of Dkr1,365 in early trade, well above the Dkr1,271 average price at which it’s shrinking its share count. Good vibes. For…

Contract negotiations between US WC labour and marine terminals appear to be moving slowly, but talks in Canada quickly came off the rails Source

AirBridgeCargo Airlines is set to relaunch on June 3 using Ilyushin IL-96 freighters. At least one aircraft has received the ABC livery. Source

It has emerged that this year’s host nation for the COP28 climate talks the UAE, attempted to curb emissions targets for the maritime sector Source

Concerns over excess inventories at retailers are misplaced: the real issue is weak demand and low margins, which cut into airfreight spend. Source

PRESS RELEASE A proof-of-concept trial for autonomous vehicles to move cargo between the warehouse and apron has commenced at Josep Tarradellas Barcelona – El Prat Airport as part of an innovation project between partners, Worldwide Flight Services (WFS) and Aena, the main airport operator, with 46 airports and 2 heliports in Spain. The project is…

PRESS RELEASE 24 March 2023, London: Menzies aviation, the leading service partner to the world’s airports and airlines, continues its expansion in Latin America with new ground services and air cargo services launching in Costa Rica and Chile. In Costa Rica, Menzies has been awarded licenses to operate ground services at Juan Santamaría International Airport (SJO), the…

Hutchison Ports Australia (HPA) has issued 60-day Notices of Intention to increase its landside fee tariff and storage & handling charges at its container terminals in Sydney and Brisbane from 22 May. Hutchison Ports proposes to: • increase its Infrastructure Levy charged to all full import & export containers by just over 8% at both…

Aged freighters are destined for scrappage, with a raft of new orders set to hit the market by 2027 threatening oversupply, as demand falls. Source

Maersk's integrated logistics strategy is being copied by some – and reviled by others. The jury is still out. Source

From an article by UNCTAD Europe’s drive to decarbonise is picking up pace with the latest news that the second plank of the Fit For 55 package, the FuelEU package to increase carbon charges from 2025, was agreed by the European Parliament and Council of Europe this week. Included in the FuelEU legislation is a…

Maersk denies that a cyberattack by hacker group Anonymous Sudan occured, despite leaked customer credentials appearing on social media Source

Container spot rates from North Europe to the US east coast dipped below $4,000/40 ft this week, having halved in value in the past 12 months Source

DSV tends to claim the M&A headlines but the mid and smaller tier of forwarders is a much busier space in mergers. Source

More strikes in Germany are expected to cause delays and rail freight disruptions on 27 March as shippers ask for flexibility on timings Source

CMA CGM, already in the air cargo and logistics markets, seeks to benefit from the booming auto market by chartering four car carriers Source

DSV is buying two small US companies to strengthen its position in the US semiconductor industry, and Phoneix-Mesa Gateway Airport operation. Source

The world’s largest container shipping line MSC has taken charge of the largest container ship the 24,116 teu scrubber-fitted MSC Irina. Source

Atlas Air gives up gender diversity on its board as PE takes over following its Apollo-led merger by investors. Source

DB Schenker has adopted ‘smart label’ stickers, incorporating GPS tracking devices thin enough to be used on individual cartons Source

PRESS RELEASE Bruxelles, 21 March 2023 – “Italian shipowners are on the front line on several EU and international dossiers, especially in relation to the decarbonisation of the sector; this is perfectly represented by our constant and competent participation to the main EU working tables. We are constantly advocating, via our Brussels-based office, the development…

PRESS RELEASE Geneva, Switzerland, Tuesday 21st March 2023: Smart technology, enabling operations automation and better data sharing, will support forwarders to build more efficient, sustainable supply chains, according to James Coombes, Chief Executive Officer and Co-Founder of freight platform Raft. Forwarders have a unique opportunity to offer their shipper customers a better service through emerging…

Thames Freeport has been given the go ahead to formally constitute its board and start operating fully, following the approval of the final business case by the UK government. The Freeport is an economic zone located in the Thames Estuary and UK’s largest port, London. With 1,700 acres of development land, no location can match…

PRESS RELEASE AUSTIN, Texas — March 21, 2023 – Overhaul, a software-based supply-chain visibility, risk, compliance, and insurance solution for the world’s leading brands, has been selected by CEVA Logistics, a leading third-party logistics (3PL) provider, as its partner in improving and optimizing real-time cargo visibility and security for high-value goods. As cargo volumes increase…

PRESS RELEASE  Knight-Swift Transportation Agrees to Acquire U.S. Xpress Enterprises for $6.15 Per Share 03/21/23 PHOENIX & CHATTANOOGA, Tenn.–(BUSINESS WIRE)– Knight-Swift Transportation Holdings Inc. (NYSE: KNX) (“Knight-Swift”) and U.S. Xpress Enterprises, Inc. (NYSE: USX) (“U.S. Xpress”) today announced an agreement under which Knight-Swift will acquire U.S. Xpress for a total enterprise value of approximately $808 million,…

PRESS RELEASE The takeover of air and sea freight forwarder ACA International adds six locations Down Under to the company’s own Air & Sea Logistics (ASL) network Kempten, March 14, 2023 – Dachser has acquired ACA International headquartered in Melbourne, Australia. This acquisition means Dachser’s own air and sea freight network now also covers Australia and New Zealand,…

Tiaca DG Glyn Hughes has excoriated Schiphol’s plan to curtail flights by some 10%k to reduce noise and pollution, and urged dialogue. Source

TS Lines has sold an older pair of Panamax container ships to MSC as the Taiwanese regional carrier continues to restructure its fleet Source

DHL Express says all signs point to growth with its Asian services, as companies look for a “China+1” mode. Source

The Surface Transportation Board has approved the first major US rail merger in 20 years with the $31bn takeover of KCS by Canadian Pacific Source

Unaccompanied freight is ticking up with the latest news from CLdN that it is starting a roro service between Rotterdam and Teesport Source

THE Alliance carriers confirmed North Europe-Asia vessels will not take a 3,500 mile detour round the Cape of Good Hope on backhaul voyages Source

Maritime regulation is moving too slow to keep pace with the changes occurring within industry, particularly for EV's and li-ion batteries Source

PITCHBOOK reports: Private debt endured 2022’s market upheaval Private debt assets proved resilient amid a challenging macroeconomic environment in 2022, according to our 2022 Annual Global Private Debt Report. GPs enjoyed robust fundraising momentum through most of the year, despite a short-lived lull in the first quarter. Demand for private debt loans has grown over…

PRESS RELEASE  14 March 2023  Good results for all of the Group’s activities in 2022  – Revenue: 20,677 million euros, +20% at constant scope and exchange rates. – Adjusted operating income (EBITA (1) (2)): 1,502 million euros, +47 % at constant scope and exchange rates, driven by the very good performance of the Transport and Logistics (578 million euros, +84%) and Communications…

THE GUARDIAN reports: The government has struck a last-minute deal for HSBC to buy Silicon Valley Bank’s UK operations, saving thousands of British tech startups and investors from big losses after the biggest bank failure since 2008. The takeover will override the Bank of England’s initial decision to place SVB UK into insolvency, after a run on…

PRESS RELEASE CargoAi onboards its first Australasia carrier with Air NZ Cargo’s capacity now live on CargoAi’s digital marketplace (CargoMART). Air NZ Cargo will be offering its capacity from USA and Canada into New Zealand and Australia. “We are proud to be the marketplace of choice that Air NZ has chosen to commence its digital…

The migration of freight from Mexico's Benito Juarez International, to AIFA began with China Southern and DHL, moving to the freight airport Source

The very fast failure of Silicon Valley bank has led the transport & logistics industry to review its own start-ups. Source

Nhava Sheva port container terminals are facing congestion following a capacity reduction at APM Terminals according to local trade sources Source

If you blinked, and missed the extremely rapid decline of Silicon Valley Bank – and others, CNN has done a handy round-up of what happened. And of course, Loadstar Premium has a great piece too. It appears SVB wasn’t too interested in our sector, although some of Flexport’s investors, such as Shopify, Founders Fund, Y Combinator,…

IAG Cargo will charge customers who use paper air waybills (AWBs), five years later than other carriers doing the same. Source

Ocean carrier scheduling may be improving but last-minute blanking of sailings is causing more supply chain delays than late running ships Source

Maersk, NYK Line and the flying shipping lines all feature in this Monday's shipping news round-up from OceanX. Source

Freightos has had its first earnings call since listing on Nasdaq – it made losses but analysts were soothed by CEO Zbi Schreiber. Source

CNBC reports: The sudden collapse of Silicon Valley Bank has thousands of tech startups wondering what happens now to their millions of dollars in deposits, money market investments and outstanding loans. Most importantly, they’re trying to figure how to pay their employees. “The number one question is, ‘How do you make payroll in the next couple days,’” said Ryan…

ZERO HEDGE reports: For much of the day, anyone doing analysis on the now-liquidated Silicon Valley Bank was confined to using stale financial data as of Dec. 31… we certainly were when analyzing the impact of SVB’s contagion (see here) as excerpted below: For those who slept through yesterday, here is what you missed and why…

Three former Antonov executives have been issued with ‘suspicion notices’ following an investigation into the destruction of the iconic Antonov 225 Mriya aircraft at the start of the Russian invasion of Ukraine. Reuters reports that two former managers have been detained and a third, its former general director, has been declared a wanted person by…

JD Logistics has seen a spectacular downfall – while its Q4 22 and annual numbers on Thursday were the same mixed bag as previously. Source

CH Robinson looks like it has found its new chief executive in Jim Barber, former UPS COO, who joined the board in December. Source

Atlas Air’s takeover by Apollo Global Management should close in the first quarter but may have been hampered by regulatory authorities. Source

Remember Bob Biesterfeld, the hapless chief executive of CH Robinson who was fired on 1 January? Well, it looks like the 3PL may have found his replacement: Jim Barber, of UPS fame. According to Reuters, Mr Barber, UPS’s former COO who retired in 2020, joined CH Robinson’s board last year. Clearly, retirement hasn’t suited him.…

Ceva Logistics in partnership with transport company Sanef and energy specialist Engie will develop a green motorway network across Europe Source

Handler Menzies Aviation, which recently admitted it had failed to update its IT, has opted for Wipro to develop its air cargo platform. Source

OOCL Utah's near-collision with a Panama Canal lock gate on Sunday portends a deadly and costly accident waiting to happen, experts say Source

Current rate wars could see some carriers, overly exposed to the spot market, record their first loss making quarter since the 2020 pandemic. Source

Outsourcing by e-commerce businesses and their logistics to fulfilment companies for online shopping has seen growth for 3PL's since last year Source

Digital interconnectivity will increase efficiencies, but will also make forwarders, carriers and hubs more of a target for cyber criminals. Source

It is heating up. The much-anticipated sale of DB Schenker is slowly but surely making headway, with three banks now appointed, according to Reuters. The process – which could involve private equity, an IPO, or a trade sale – will start in Q3. But the word, according to Reuters, is that the Germans want to create,…

Asian and Gulf airlines face longer routes to the US after senators urged government to ban carriers that fly through Russian airspace Source

NYK Line’s admission that it couldn't make a multimodal integrated company work has refocused the industry’s eyes on Maersk's strategy. Source

In Frank Appel’s last outing as CEO of DP-DHL, the group has boasted “outstanding” results and is optimistic despite weaker economic growth. Source

Mark Sutch, the Cathay Cargo exec who went on to a short-lived stint at CMA CGM Air Cargo, has gone to Indigo to head its international cargo. Source

Taiwan's Yang Ming produced a net profit of $6.06bn in 2022, but by the fourth quarter its results were heading towards breakeven Source

First reaction to Deutsche Post DHL numbers out today should likely be the one shared by Mr Market – stock up 1% to €41.2 at last look in mixed European trade, worst case for guidance avoided, its defensive characteristics* confirming what we witnessed after Fed Chair Jerome Powell did the talk. The Germans did it,…

Industry has got behind the EU’s new Import Control System 2 following the launch of phase 2 this month but implementation concerns linger Source

The heat is piling up on Class I rail companies after yet another Norfolk Southern (NS) train derailed in Ohio, barely a month after the catastrophic derailment of a 150-car NS train in the state. That incident saw 38 rail cars come off the rails, including 11 carrying hazardous materials; now legislators are up in…

Insistent talk in our circles that France’s Geodis, the 3PL arm of state-owned rail company SNCF, could soon move the M&A needle in transport and logistics, must now be contextualised. And SNCF’s annual numbers out recently – only quickly flagged here last week: ‘Geodis to CMA CGM – here’s the thing‘ – do just that,…

Vistar Shipping is the latest NVOCC to acquire a container ship and ply it Russian routes where rates remain healthy. Source

Is there overcapacity in the US truckload industry, or is demand sufficient and capacity able to reshuffle itself? Source

SEEKING ALPHA reports: Goldman Sachs is increasingly bullish on Amazon (NASDAQ:AMZN) despite some weak performance since the company’s early February earnings results. In a sweeping note covering the internet space, the bank’s analysts suggested that concerns of an AWS slowdown are overwrought while e-commerce margins look as though they will improve into 2023. As such, the…

The looming break-up of the 2M Alliance, between MSC and Maersk, could be the catalyst for another round of ‘alliance musical chairs’, according to speculation at the S&P Global TPM conference in Long Beach last week Despite the 2025 divorce prompting carriers in the THE and Ocean alliances to close ranks and reiterate the longevity of their…

NYK Line is to sell 100% of its shares in Nippon Cargo Airlines (NCA) to rival All Nippon Airways (ANA), citing high costs. Source

PRESS RELEASE GEODIS today announces the finalization of the acquisition of trans-o-flex, following regulatory approval. trans-o-flex is a leading German network for temperature-controlled pharmaceutical goods and express premium delivery. This acquisition will establish GEODIS as one of the most prominent players in the key market of healthcare and will significantly enhance its delivery capabilities in Europe. Marie-Christine…

PRESS RELEASE The next milestone in green logistics • Daily service with hydrogen fuel-cell trucks between Cologne and Eupen • The next step in phasing out diesel • Strong cooperation with partner hylane Frankfurt/Cologne March 07, 2023 – DB Schenker, one of the world’s leading logistics service providers, is using the first hydrogen-powered semitrailer tractor…

PRESS RELEASE London to JFK continuing daily flights. · London to Washington, D.C. will launch on 1st June operating up to six flights a week. · London to Los Angeles will launch on 30th June operating daily. · London to San Francisco will launch on 1st July operating three times a week. · London to…

SeaLead Shipping has revamped its Asia-US East Coast service, removing direct connections and opting for transhipment in Egypt's Damietta. Source

After some back and forth, flirting with new records from earlier this year, WiseTech (WTC) today hit a new milestone: A$64.86 a share. Closing price: A$63. In short: +28% year-to-date; +42% over a one-year period and; +498.29% since the same day five years ago. Remarkable. Even more so, for two reasons (we’ll get to Mærsk in…

Supply chain logistics providers including DHL, which are struggling to serve Pakistan, as it battles its worst-ever foreign reserve crisis.  Source

China-US relations is prompting a very real move away from sourcing in the Asian powerhouse by western firms, but there will be no quick exit. Source

With special mention for its cargo operations, Lufthansa (LHA) is an all-round sign of the times in the broader air trade. On the one hand, its ‘green’ adverts are “banned in the UK for misleading consumers“, as greenwashing risk is apparent. On the other hand, with a phenomenal rally under its belt already – thank Klaus-Michael…

It's a busy time with Intermodal in Sao Paulo, at the same time as TPM in Long Beach, while lines and forwarders are reporting results. Source

Ocean carriers will see a sharp decline in earnings, as rates fall and cost increases, said CMA CGM as it reported results. Source

The ports of Los Angeles and Long Beach have lost traffic but the latter is eyeing the manufacture and assembly of offshore wind turbines. Source

KLM, which accounts for 60% of Schiphol's traffic, has joined with Martinair and others to take legal action over slot cuts. Source