Penalties hiked for outbound cargo from China booked on the shipping line’s portal. Maersk Line said it is increasing both the fee charged shippers that book outbound cargo from China on its online computer portal ship.maerskline.com and then cancel the shipment as well as the penalty it pays shippers if cargo
Import & Export
Container industry may face feeder vessel shortage
SeaIntel says if charter rates for feeders increase, the pricing spread between services calling direct port-port pairs and trans-shipment products could widen. The container shipping industry faces an “impending shortage of feeder vessels,” says SeaIntel, a Copenhagen-based research firm. “We found that the phase-in of the new large vessels in 2018-2020 is
Port of NY/NJ container volumes up 9.6 percent
Bolloré charged for corruption in Africa, firm denies
...Vincent Bolloré, CEO and master dealmaker placed under formal investigation. A logistics powerhouse in Africa, the French company allegedly “provided discounted communications advice” in Guinea and Togo in exchange for licenses to operate container ports. Bolloré Group, which has extensive logistics and port operations in Africa, is denying charges of corruption in a probe
Apapa gridlock delays N85m solid minerals export
Lagos, Nigeria - The persistent difficulty in accessing the nation’s major seaport, Apapa, is taking its toll on movement of non-oil exports and may affect the earnings for this year, investigation by our correspondent has revealed. It was gathered that on the average, 15-container load of solid minerals, valued at $18,500
Panalpina reports increased airfreight volume, continued slump in ocean freight sector
Switzerland-based forwarder Panalpina released its financial results for the first quarter of the year, reporting increases in overall profitability, with earnings before interest and taxes (EBIT) up in its Air Freight and Contract Logistics divisions, but down in its weakening Ocean Freight division. Overall EBIT came in at US$25 million, a
Smugglers used aerial drones to sneak $80 million in iPhones into China
A drone that was confiscated after authorities arrested suspects who used drones to smuggle smartphones from Hong Kong to Shenzhen, is pictured in Shenzhen, Guangdong province, China March 29, 2018. Liu Youzhi/Southern Metropolis Daily via REUTERS Chinese authorities have arrested 26 people who were part of an iPhone smuggling operation between
Trade dispute escalates as Trump threatens China with $100 billion more in tariffs, China says will fight back ‘at any cost’
Shipping containers are being loaded onto Xin Da Yang Zhou ship from Shanghai, China at Pier J at the Port of Long Beach in Long Beach, Cali China warns it would fight back “at any cost” President Donald Trump on Thursday directed U.S. trade officials to identify tariffs on $100 billion more Chinese
U.S.-China trade war could hit German automakers, plus Tesla, Ford
2019 Mercedes-Benz G Class Escalating trade tensions between the United States and China may dent production of German luxury SUVs made in the U.S. South and sent to China, with exports from electric vehicle maker Tesla Inc. and Ford Motor Co. also vulnerable. If a tit-for-tat tariff dispute between the two countries erupts into
U.S. expects talks with China as trade fight escalates
The United States voiced willingness on Wednesday to negotiate a resolution to an escalating trade fight with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports, but the Chinese ambassador to Washington said it “takes two to tango.” Just 11 hours