Finance - News
A.P. Moller - Maersk introduces strategic changes that will further improve customer experience and end-to-end service delivery. As part of this, the Safmarine brand will be integrated into Maersk to enhance customers’ access to the global integrated offering. In addition, the Damco brand’s Air and LCL (Less than Container Load) offering will be combined with Maersk’s logistics and services products to complement its end-to-end offering. Also, a more simplified...
Maersk remains committed to ensuring the supply chain needs are met in this period of uncertainty and intensified congestion all around the globe. In this “Asia Pacific Market Update”, Maersk provides the most relevant and up-to-date information so that together Maersk navigates this period of heightened volatility and keeps the supply chain moving. Industry Trends As the world and businesses continue to face challenges, Asia Pacific leads the way in projected GDP growth:...
Maersk remains committed to ensuring the supply chain needs are met in this period of uncertainty and intensified congestion all around the globe. In this Asia Pacific Market Update, Maersk provides the most relevant and up-to-date information as Maersk navigates this period of heightened volatility together to keep the supply chain moving. This month Maersk looks at the disruption affecting Yantian in South China due to COVID-19 flare-up and the knock-on effect this is having globall...
After a six-day stop on export containers, the Yantian Port Authorities have announced that productivity is gradually set to increase as more workers return and more berths reopen, but the damage has already been done. The current estimated wait is over a fortnight, causing many carriers to divert vessels to other ports. In total, over 300 sailings from all liners will omit Yantian and for Maersk, 19 of the mainline services have been affected. Fighting to get reliability back i...
A.P. Moller – Maersk and IBM announced that more than 10 members have joined TradeLens in the Chinese Mainland in the first month since its launch on May 10. The new members of the ecosystem to advance trade digitisation include industry-leading Chinese companies, two-port groups and eight intermodal and inland logistics providers. TradeLens is a neutral blockchain-enabled digital container logistics platform, jointly developed by A.P. Moller - Maersk and IBM, and includes foundational ca...
By shifting the transportation mode from truck to rail between Barcelona port and Tarragona terminal, IKEA Supply Chain Operations is cutting their Green House (GHG) from their long-haul transports in Spain by around 700 tons per year. “Maersk´s offering goes beyond moving cargo from A to B. We grow together with our customers, building tailor-made solutions based on sustainability and prioritisation. For us, it is crucial to dig into our customers ´needs as well as...
Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) Pte. Ltd. announced they have completed integration onto the TradeLens platform, helping ensure a more timely and consistent view of logistics data for their containerised freight around the world. TradeLens is a neutral, third-party platform launched by IBM and A.P. Moller - Maersk to help modernise the world’s supply chain ecosystems and is run on IBM Cloud and IBM Blockchain. Benefitting from TradeLens Profit from...
The Council of Supply Chain Management Professionals (CSCMP) held their 32nd Annual State of Logistics Report virtual presentation on June 24, 2021, with supply chain executives from Maersk, Nordstrom, Penske Logistics, Kearney, Norfolk Southern and IHS Markit participating in a panel that discussed the major forces shaping logistics in the pandemic and post-pandemic world. The 73-page report, authored by Kearney, entitled “Change of plans” captures the wild ride of 2020 a...
Maersk is redesigning its ocean network in West & Central Asia that connects countries including India, Bangladesh, Sri Lanka, Pakistan, UAE and Saudi Arabia to the world. The changes in the network are primarily aimed at improving speed to market, providing higher predictability and offering more flexibility to customers’ supply chains. Further, redesigning the network will also bring more resilience to the customers’ supply chains, protecting them better from operational cha...
With the traditional peak season approaching, the outlook for both ocean and airfreight remains buoyant although capacity constraints and service reliability continue to present challenges. Maersk shares the latest market trend before highlighting the issues and challenges they face and also explain Maersk’s latest solutions to help one keep cargo moving. Market trend While global demand for logistics services remains strong, COVID-19 continues to cause supply-side problems: l...
SBM Offshore has reached a new milestone in its digital transformation program: ABS has issued New Technology Qualification (NTQ) to SBM Offshore’s artificial intelligence-powered Intelligent Agent Mooring Line Integrity Tool, allowing the technology to be integrated into offshore systems for the first time. This tool is built on SBM Offshore’s unrivalled mooring expertise and FPSO lifecycle management, combined with the advancement in machine learning capabilities. It enables the d...
Satcom Direct (SD), the business aviation solutions provider, has signed a preferred supplier agreement with Luxaviation Group, one of the world’s largest business aircraft and helicopter operators. The new three-year arrangement begins with immediate effect and provides best-in-class technical connectivity solutions, superior value, and award-winning customer service to the global Luxaviation fleet. SD’s advanced technology All Luxaviation customers may now benefit from SD&rsquo...
Recently published independent research points conclude that goods-producing value chains (particularly automotive, as well as computers and electronics) are becoming more regionally concentrated, especially within Asia and Europe. Companies are increasingly establishing production in proximity to demand. Such value chains require just-in-time shipping operations. Borchard Lines continues to provide industry-renowned door-door timelines with over 93% on-time departures and arrivals.
Anticipation for London International Shipping Week 2021 (LISW21), the global maritime industry’s first in-person gathering since early 2020, is set to soar following UK Prime Minister, Boris Johnson’s announcement that London is open for business. The British Prime Minister has confirmed an easing of COVID-19 restrictions across England by July 19, 2021, giving people working in shipping clear passage to reconnect at LISW21, slated to take place from September 13 – 17, 2021....
With their initiative on schedule reliability, Hapag-Lloyd is tackling one of the main challenges faced by the global shipping industry. Container shipping is currently going through its worst operational crisis, in many years. Due to high demand, massive COVID-19-related restrictions and the Suez Canal incident in April 2021, the shipping industry has been forced to deal with major operational challenges, such as congested ports, ship delays and infrastructural bottlenecks. Transparency on th...
As SITC 's practice of building a land-sea integrated supply chain service model in Indonesia, relying on SITC's long-term market development foundation and overcoming the impact of Ramadan and the epidemic, SITC Indonesia's Surabaya yard was officially put into operation on June 11. The Sishui Depot is mainly engaged in container storage, warehousing, container equipment repair and maintenance, and container transportation. Comprehensive logistics services Through a professional team and adv...
Taking action was the overriding theme of Ocean Now, a new two-day, hybrid event launched by Nor-Shipping. Even though global industry stakeholders are still grounded by travel restrictions, the desire, and need, to connect and collaborate was made abundantly clear by the caliber of a participant, the scale of online attendance, and the spectrum of opportunities discussed. The challenge was translating willpower into genuine momentum, creating the infrastructure, support, and incentives to enab...
John O’Keeffe has been appointed as the new Head of Renewables, Americas. O’Keeffe, a former maritime Captain with vast experience in the U.S. offshore wind industry, will join Blue Water’s office in Houston after serving as Head of Marine Affairs North America at Orsted. Work experience John was an integral part of America’s first offshore wind farm at Block Island. Following that success, he built the first Marine Affairs team in the US offshore wind market to facilit...
Hapag-Lloyd successfully closed the acquisition of the Dutch container shipping company Nile Dutch Investments B.V. (NileDutch). After signing a sales and purchase agreement in March, Hapag-Lloyd has now formally acquired all shares of the company after all responsible antitrust authorities had approved the transaction. Authority comment Hapag-Lloyd is noticeably increasing the number of employees on the ground in Africa “We are very excited about closing the deal and look forward to...
HHI-EMD (Hyundai Heavy Industries' Engine Machinery Division) has placed a world-first order for the low-speed ME-GA engine, the latest edition to MAN Energy Solutions’ dual-fuel portfolio. HHI-EMD has ordered 2 x 5G70ME-GA10.5 engines for each of 6 x 174,000-m3 LNG carriers for shipowners KLC (2 vessels), PANOcean (2), Knutsen (1), and JP Morgan (1). Hyundai’s Shipbuilding Division (HHI-SBD) will construct the vessels in Korea, which will be chartered by Shell Tankers (Sing...
"The deliveries will last way into the 2030s and is an important and strategic milestone that strengthens our foothold in Europe with Germany as an important and near partner." "Our cooperation with Germany for submarine technology extends over several decades. With this new and expanded industrial cooperation the partnership is taken to a new level that will have great importance for Norwegian technology development and value creation,” says Geir Håøy, CEO of KONGSBERG....
Speaking at Space Comm in Farnborough, United Kingdom, Rajeev Suri, Chief Executive Officer of Inmarsat, the front-runner in global, mobile satellite communications, will call on the UK space sector to innovate, to work together and across borders, to commit to sustainability and to use procurement decisions to grow the industry. Among five key recommendations to the gathered UK space sector, Mr. Suri will call for a ‘Net Zero’ equivalent for space to ensure the sustainability of th...
The foremost classification society ClassNK has proclaimed its roles to support the transition of the shipping business to zero-emission.While efforts to build a decarbonised society are being accelerated such as through strengthened GHG reduction targets in various countries and with the progress of sustainable finance, a framework for assessing GHG emissions has also been introduced to MARPOL. The shipping industry is now required to plan and manage GHG emissions in an organised manner. I...
A.P. Moller - Maersk announces that it has reached an agreement with Bridgepoint Development Capital to acquire KGH Customs Services (KGH), a Sweden-based specialist in trade and customs management services in Europe. This will further enhance Maersk’s capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers. Seamless customer experience With its specialised expertise across freight modes (air, ocean, land) and...
To meet the booming demands of shipping space and the shortage of export logistics supply chain resources, CULINES adheres closely to market trends and customer demands. Trans-Pacific Express Service (TPX) Five 1,700-4,400TEU container vessels will be deployed on the TPX service, which trades directly from Shanghai Through coordination and deploying of containerships and equipment, CULINES will launch its first Trans-Pacific Express Service (TPX) on July 18 linking China to the West Coast of...
DNV, the world’s renowned classification society, has released the latest updates to its rules for ship classification, with a raft of new class notations that are designed to enable the maritime industry to tackle the decarbonisation challenge. The new updates include ‘Fuel Ready’, a class notation that offers ship owners the option to prepare for a later conversion to multiple different alternative fuel options, and ‘Gas fuelled ammonia’ for ammonia fuelled vesse...
MetOcean Telematics is pleased to announce it will be exhibiting at NATIA 2021 in Tampa, Florida, USA, from July 12th to 14th, 2021. They are looking forward to connecting with NATIA members and showcasing their latest products and technology. Visit the MetOcean Telematics team at booth 826 at the NATIA 2021 event. MetOcean Telematics at NATIA 2021 event NATIA is comprised of over 3,500 law enforcement, intelligence, and support personnel, who provide electronic surveillance, technical operat...
Hapag-Lloyd has announced opening a new office in Ukraine. The country is located on the northern shores of the Black Sea and the Sea of Azov, and is the second largest European country by area, covering a strategic geographic position between the European Union (EU) and Russia. Key Market for Hapag-Lloyd Various mineral resources and the world’s largest agricultural production make Ukraine an attractive export market for Hapag-Lloyd. The country is also an important import country, i.e....
Swedish ferry company - Stena Line is strengthening its position and expanding services in the Baltic Sea Region, by deploying two new large and modern ferries on the route between Ventspils in Latvia and Nynäshamn in Sweden in 2021. The first of the two vessels, Stena Scandica entered Ventspils port on Tuesday 29 June 2021 to get ready for its maiden voyage on the route within a short. The vessel adds another 70% cabin capacity compared to the existing vessels, as well as increased freigh...
Inmarsat announces the appointment of Fredrik Gustavsson as the company’s Chief Strategy Officer (CSO). The new role sees the former Head of Strategy & M&A at easyJet brought in to further strengthen the company’s executive leadership team and accelerate growth. Fredrik is Inmarsat’s third executive-level appointment in three months and follows a wide-ranging review of the company’s performance and effectiveness undertaken by Inmarsat CEO Rajeev Suri since jo...