Pre-earnings: Kuehne + Nagel, the 'most attractive near-term prospect'
Tick-tock tick-tock…
More on antitrust. Singapore’s competition commission has set fines for 10 freight forwarders, totalling more than $7m, for price-fixing on shipments from Japan to Singapore. DHL Global Forwarding won full immunity under the leniency programme, as it reported the case, but Japanese companies were penalised, with the highest fines given to Nippon Express and Yusen, ($2m apiece).
Other antitrust news may make the odd airline smile – slightly. DB Schenker, which announced a lawsuit of up to $3bn against the airlines over their “cartel”, has been told to pay $8.75m to shippers over its role in the so-called gardening club scandal. A group of forwarders has agreed to pay $178m into a settlement fund for shippers.
MSC Aries now bound for Iran, and crisis will be 'a catalyst for higher rates'
Urgent call for breakdown of cargo onboard as General Average declared on Dali
Iranian troops seize MSC box ship while Somali pirates net $5m ransom for bulker
Flexport is 'back on track' – now it needs to start growing again
Hong Kong drops out of world's top 10 busiest container ports
'Slow season' and ocean network stabilisation easing pressure on rates
Bottlenecks and price hikes as airlines now avoid Iran airspace
Alex Lennane
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During August 2023, please contact
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