Tag: Customs Clerance

TRANSPORT INTELLIGENCE reports: The restructuring of global supply chains away from China is continuing. Apple has just announced that it is shifting some of its component sourcing to the US, stating on Tuesday (23/5), that it had agreed a “new multiyear, multibillion-dollar agreement with Broadcom…through this collaboration, Broadcom will develop 5G radio frequency components — including FBAR filters —…

The WiseTech (WTC) run is unstoppable. Today WTC hit another record of A$75.01, looking to close around that level for the day. Only a couple of weeks ago, WTC broke through A$70 a share… Well done! (Our full coverage can be found here.) Source

Digital forwarder Freightwalla's demise may not be the first in India, as start-ups struggle to gain traction. Source

Looking for capital appreciation in the supply chain, particularly on the North American land side of the equation, is tricky at best. While you may have caught the action of GXO Logistics, the only listed, pure-play contract logistics firm, whose stock had another strong week by hitting a 52-week record of $60.8 on Tuesday, it’s the…

Yang Ming said today that oversupply in container shipping is expected to worsen and it would refocus on its 3PL business and terminals. Source

It was in Q4 22 when I consciously wrote ‘DSV Express’, mulling over a pro-forma entity born out of a DSV + FedEx would-be combo. M&A arbitrageurs absolutely loved that. Rhetoric? No Back then just like now, those in banking who buy and sell stock based on takeover probabilities, are screaming for action. In October, ‘DSV Express’…

Heavylift air cargo could struggle, with low AN-124 availability, while the 747 starts to disappear. But can the C17 help? Source

Increasingly e-commerce providers and online merchants are turning to logistics firms to manage their fulfilment. Source

Prospects of a traditional peak season are slipping away as ocean carriers see no significant uptick in export orders and freight rates slip. Source

It’s on. Lufthansa will buy 41% – initially – of Italy’s ITA Airways, for €325m, giving it stakes in or ownership of airlines in five countries. The long negotiations, which saw Italian shipping line MSC pull out of a partnership with Lufthansa, have seen the Germans agree on options to enable Lufthansa to buy the…

If you have closely followed the Sinotrans rollercoaster as eagerly as we have, you may already know we have bad news for you. (But don’t despair.) The short-lived rally, as it turned out, that we flagged two weeks ago – to which the CMA CGM + Bolloré Logistics deal announcement on 8 May contributed, in my…

News that France’s rail freight operator Fret SNCF is restructuring has been met with mixed emotions amid concerns of job losses and threats to the green agenda. Source

The Russian logistics sector is adapting to new realities amid the ever-tightening sanctions regime and the exodus of major transport companies. Source

Over the past two years inland ports have become a popular valve to unclog congested ports, but the concept remains on the advance in calmer waters. Source

For logistics, AI risks becoming another ‘blockchain’ – a shareholder-magic-dust with little near-term practical use, according to experts. Source

The outlook for air cargo recovery in the second half appears muted, at best. Airlines claim the winners will be those that can adapt fast. Source

Cathay Cargo has announced one of its management shake-ups, that will see two cargo exeuctive roles impacted. Source

Super slow-steaming is taking pressure off ocean carriers as they absorb newbuild ULCVs, but their equipment surpluses are more challenging. Source

The argument between bankrupt Bed Bath & Beyond (BBBY), and shipping line OOCL, has become fiercer. OOCL has hit back against the retailer’s $31m claim, made to the Federal Maritime Commission. It denied that it had driven up rates, “created artificial scarcity, unjustly and unreasonably exploited customers”, pointing instead to the fall-out from the Covid…

PRESS RELEASE GXO wins new contract in Belgium to consolidate warehousing services into a semi-automated facility GXO and Kellogg, which have partnered since 2008, will continue to deliver continuous improvement initiatives at operations that span five countries and eight sites GXO’s technologies have improved speed, efficiency and environmental benefits for Kellogg GXO Logistics, Inc. (NYSE: GXO),…

PRESS RELEASE Efficiency at Solent Stevedores’ empty container handling facility at London Gateway has increased by 88% with the introduction of a new Vehicle Booking System (VBS) from Intermodal Manager. The VBS has also enabled an increase in the number of containers handled. In January this year the empty container storage yard, operated by industry…

Bolloré Logistics, currently undergoing acquisition by CMA CGM, has appointed a new managing director Asia Pacific. Olivier Boccara, who has worked for the company for more than seven years, will succeed Cyril Dumon. Mr Boccara started at Bolloré as CEO France, but swiftly moved to become global chief commercial officer. The company said he would…

Scan Global Logistics is taking advantage of its Danish origins – and has managed to secure Nils Smedegaard Andersen, former Maersk CEO, as chair of its board. Source

Guangzhou Port will invest $284m in a shipping and port complex at Nansha, to offer leasing, stevedoring, forwarding and other services. Source

RwandAir’s cargo division is on a mission to transform its operations following a partnership with Qatar Airways, to open Africa’s huge market Source

Box lines with exposure to the embattled east–west trades recorded the steepest fall in freight rates in Q1 and are struggling to breakeven. Source

India’s notable digital freight forwarder “Freightwalla” has ceased all operations, local industry sources told The Loadstar. Source

High SPAC costs have clouded Freightos’ Q1 results, resulting in a hiring freeze, even as the company tried to focus on its record growth. Source

Truckers and shippers in the US are on high alert over double brokering, an illegal activity costing the market more than $500m in a year. Source

Covid accelerated the pace of trade diversification from China, bringing industry buzzwords like near-shoring into a greater spotlight.  Source

IATA’s One Record finally appears to be gaining traction, after years of “ballyhoo” and “mess”, as Cainiao launched trials. Source

With charter rates for pure car carriers surging, Renault Korea will start using containers to ship its Arcana models to Europe. Source

Zim is pushing an optimistic forecast for 2H after worse-than-expected Q1 losses, but analysts are circumspect over the carrier’s future. Source

On the same day as our Premium colleague Alex Lennane exclusively revealed key bits of an internal memo released from DB Schenker (DBS) to staff, Bloomberg‘s headline was unequivocal: “Deutsche Bahn open to strategic buyer for Schenker“. “May 15, 2023: Dear Colleagues, More than four months into 2023, we are beginning to get a clearer picture of how this…

Wincanton, recovering from the loss of HMRC business and its low share price, is refocusing on externalising costs through “Open Book” pricing. Source

Flexport's finances are private – but is the money soon going to run out, ask rival forwarders Source

The Panama Canal Authority (ACP) is to further reduce the maximum draft allowed, obliging carriers to lighten the loads. Source

Uncertainty on how the market will develop, plus ample ocean capacity, is making shippers and forwarders postpone capacity commitments. Source

PRESS RELEASE WTTC President & CEO Julia Simpson calls for immediate government action Abu Dhabi, UAE: The World Travel & Tourism Council (WTTC) has today called on governments around the world to “get serious” on incentivizing Sustainable Aviation Fuel (SAF) production and set ambitious targets to produce adequate quantities. Without meaningful quantities of SAF, the global…

DP World launches direct unaccompanied freight service from UAE – Iraq Source

The port of Houston, which was one of the fastest-growing US container gateways last year, continues to draw in new investment. Source

Forwarders are warning customers to be wary of rates being offered by rivals for the second half that look ‘too good to be true’. Source

Wan Hai Lines has added a call at Colombo, Sri Lanka, to its Asia-US East Coast service to tap subcontinental volumes. Source

… softer volumes, scrapping trends, super-slow steaming and a shift of trade patterns. Want more? The many happy reunions in Munich are one week behind us and reflection from distance makes us all realise how much things are now moving. While volumes on the key east-west tradelanes continue to normalise from pandemic highs and in…

Swings. Now worth a tiny little fraction of its peak value on debut in late January and down 75% from IPO in Q1 23, Freightos stock (CRGO) rose about 22% to $2.5 last Friday in a weak market overall. The likely catalyst? You read it here: “Freightos (Nasdaq: CRGO), a leading vendor-neutral booking and payment platform for the…

Let’s quickly run the rule over the top four listed 3PLs high on the radar in our marketplace as the value search in transport and logistics continues. Notably, DSV stock surged over 3% out of the gate today in flattish markets, hitting Dkr1,360 in early trade and looking to test its 52-week high, which was…

SEEKING ALPHA reports: – ZIM Integrated Shipping Services (NYSE:ZIM) will not pay a dividend to shareholders on account of the net loss recorded in the first quarter of 2023. – The company’s dividend policy remains unchanged, distributing 30-50% of annual net income as a dividend to shareholders. Dividend payments will be made on a quarterly basis at a…

Car manufacturers are pushing back against EU-UK Trade and Cooperation Agreement (TCA) which requires at least 45% local-content for electric cars, and 60% for batteries, from 2024. Source

Amidst the economic doom and gloom, with claims of a looming recession in the US, voices in air freight are pointing to signs that suggest the year may go out with a (positive) bang. Source

US west coast ports saw a 22% decline in box imports in April, as economic woes and protracted labour negotiations continued to take a toll Source

COSCO Shipping Car Carrier has entered Europe's automotive logistics market, after signing a deal with Germany's PWL Shipping on Wednesday. Source

Air cargo is the newfound investment allure for Indian 3PLs looking to diversify beyond their long-time mainstay trucking verticals. Source

Major adjustments in global trade have led to sudden spikes in demand for supply chain managers, with shippers turning to forwarders. Source

The trading update from US behemoth Walmart (WMT) on Thursday, 18 May, came with a sense of relief following the interims announced stateside earlier in the week by smaller rival Target and DIY specialist Home Depot. WMT’s fiscal Q1 24 numbers to the end of April were indeed well received by investors, its financials were in…

Alongside Walmart, one of the major US importers by teu, $72bn-market-cap Target Corp* (TGT) is a closely watched bellwether for inventory and supply chain matters. (*Our previous Premium coverage from November, when TGT traded around its current level, is here: ‘Target Corp – the supply chain just can’t win…‘) There’s been widespread talk in financial…

How Q1 turned out for DYI specialist Home Depot, one of the most prominent US importers with almost $40bn of quarterly sales, is embedded in its dividend policy. As expected, a $2.09 quarterly dividend disclosed yesterday, unchanged (in line with its annual track record in May), kept its annualised yield at 2.8%. Satisfactory? Well, given…

Another one! And without any news to support its strength. Remarkable. Today the shares of WiseTech (WTC) reach another record of A$71.99, then closing at A$71.2, up 0.7% for the day. It was only a week ago that WTC broke through the A$70 wall… Chapeau. Our full coverage is here. Source

Even the more reluctant airlines are now embracing booking platforms, in a bid to give customers more choice, and collect more data. Source

US container import volumes fell by 21% in April, compared with the same month of last year – and there are no signs of an early recovery. Source