Lines unveil October GRIs as container freight rates drop below break-even level
Container shipping line efforts to increase spot freight rate levels as the negotiating season on annual contracts gets underway appear to already be in tatters, after the main price index covering the route crashed this week.
Today’s Shanghai International Freight Index’s (SCFI) Shanghai-North Europe base port rate came in at $908 per teu, dropping by $147 per teu, and representing a 14% decline from last week’s $1,055 per teu and is …
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‘Air cargo at rest is air cargo at risk’: too many links in the supply chain, says Sony
Sony is suffering damage to up to 4% of its inbound air cargo into Europe.
According to Carlo Giannini, risk and insurance manager for Sony Supply Chain Solutions, problems rarely occur with the direct flights on which the company normally seeks ...
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Maersk Line and MSC unveil 2M vessel sharing port rotations for 21 services
Amid concerns that the 2M alliance between Maersk Line and MSC will suffer the same fate as its P3 predecessor and be stymied by Chinese regulators, the two ocean carriers have released their proposed service port rotations for the east-west ...
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Europe’s airlines may be readying for new, US-style merger round
The unseemly scrabble that represents Europe’s airline industry at the moment will need to consolidate further if it is to take on the might of the Middle Eastern competition on long-haul and the low-cost competition on short routes, according to French export finance house Coface. While the carriers continue to struggle – Air France’s pilots yesterday threatening to strike indefinitely despite the €10-15m daily cost – and excitedly eye the low-cost market, Coface argues that the EU needs “super players”. But with strict laws on foreign ownership, and the likely consequence of higher fares and restricted competition if more mergers take place, it is hard to see how much the carriers can really do to lower their cost base.Read more...
Maersk Line CEO pays a visit to China’s antitrust authorities
Not to be caught out by Chinese competition authorities twice, Maersk’s CEO has gone to meet and “update” China’s commerce department over its attempt to enter a vessel-sharing alliance with MSC. Soren Skou met the director of the anti-monopoly bureau, even though the new agreement only needs to be filed with the transport ministry. The pair apparently discussed the ban on the previous alliance, the new pact and monopoly issues, before the CEO went on to visit the vice minister for transport. The 2M pact is awaiting approval from the US – although, says Maersk, it’s a “formality”.Read more...
Filling the security gaps in your supply chain
Some nasty stats from FreightWatch. Cargo thefts were up 60% in Europe last year, while in the US, the greatest cause of trouble is fictitious pick-ups. As reported in our story on Sony’s air freight supply chain today, crime is a serious problem, especially on the roads. While this article was published on DHL Supply Chain’s website, and therefore is not perhaps quite as independent a point of view as you might like, it does suggest some useful tips for mitigating the risk.Read more...
Gap’s report on supplier factories detail problems
The US embassy in Myanmar has released a report compiled by clothing retailer Gap into working practices in two new production plants in the country that are set to begin supplying the company. It details a host of problems that will resonate with anyone familiar with Bangladesh’s garment industry, including “excessive working hours and inconsistent payment of overtime, an unclear policy on the hiring of underage workers, inappropriate behaviours from supervisors towards workers and certain safety issues regarding health and fire prevention. It said one of the two South Korean-owned plants had subsequently resolved the issues and had begun producing for Gap, the first US retailer to begin sourcing from Myanmar.Read more...
Manston Airport bidder says cargo is the way forward
A possible US buyer of Manston Airport has said he can secure the £20m required to reopen it, and has already offered owner Ann Gloag the £7m asking price, but has yet to receive a response. He reckons it could be operational again in 2016, with cargo the priority traffic. Overcoming Ms Gloag, who appears dead set against any resumption of aviation activities, remains the chief obstacle. “We’re in a pretty good position to not only purchase the airport, but recapitalise it and make it profitable,” said interested investor Stephen de Nardo.Read more...
- iPhone leading the charge as demand for air cargo looks up – but fuel price no help
- US Maritime Commission puts the brake on 2M proposal while it consults China
- Time to change: air freight must meet the ‘need for speed’, handling conference told
- Trucking industry gears up to tackle driver shortage as Christmas peak season looms
- Maersk gets thumbs-up from financial analysts, even without the 2M benefits
- CEVA the challenger opens new European learning centre in a hunger for innovation
- The post-Golden Week container shipping capacity conundrum: lines play it cautious
- A new era for supply chains as faster IT systems push data into the driving seat
- Idle containership fleet hits three-year low and could mean a boost for charter rates
- Cargo imports tumble as Libya struggles to revive economy paralysed by violence