Although they resumed trading on the Shanghai Stock Exchange (SSE) this week, Cosco’s take over of OOCL could still hit a stumbling block. Cosco’s shares were suspended two months ago and the SSE issued a letter of enquiry on July 18th seeking clarification on two points of the proposed deal. The first is whether it…
Built by Norwegian firms Kongsberg and Yara, the Yara Birkeland will be the world’s first fully electric autonomous container ship. It will use GPS, radar, cameras and sensors to navigate itself. With a cost of around £25 million, which is 3 times the cost of a standard container ship, she will hopefully pay for herself…
On Sunday 9th July a joint statement was issued by Orient Overseas International Ltd (OOIL) from Hong Kong, Chinese state owned Cisco Shipping Holdings Ltd (Cosco) and Shanghai International Port Group Co (SIPG). Cosco and SIPG are acquiring all of OOIL shares at an offer price of HKD 78.67 (USD 10.07) per share, an overall…
The changes in shipping alliances recently put in place have have already had a big impact on European ports. Coming into effect on April 1st, shippers have experienced significant changes in their carriers’ service networks. On the trans-Pacific trade alone, the alliances will offer 18% fewer direct routes and 33% of the routes will have…
Unusually tight capacity for the time of year is leading to rising rates, booking restrictions and backlogs for European exporters needing to ship from Europe to the Middle East and Asia. This is in part attributed to exceptionally high levels of post Chinese New Year shipping cancellations, which have meant price increases for Europe to…
The worlds largest container ship, the MOL Triumph, set off on her maiden voyage from Xingang, China on the 10th April. With a gross tonnage of 210678, deadweight of 197500 tonnes and length and breadth of 400m x 59m it certainly does pack a punch - with the ability to carry 20,150 twenty foot containers.…
In the current economic climate post Brexit, leaving the EU means that foreign relations have become more important than ever. Here are our 6 top tips for importing goods from China… 1. Ensure that the goods are permitted in your country, and that they are correctly classified. International trade is heavily regulated, and Supreme Freight…
New London Gateway services are now available to and from the Far East in the wake of big changes in shipping alliances. The recent changes are affecting the location and timing of many international shipments, one of the notable benefits however is that the London Gateway now has deep seas connections for the first time.…
The MET Office have a severe weather warning in place for Thursday 23rd February covering the Port of Felixstowe with wind gusts forecasted between 60 – 80mph. Weather Forecast Maps Due to the forecast we are expecting Felixstowe Port to close from1000hrs tomorrow morning through to the early hours of Friday morning the 24th With…
We have been advised that due to weather issues of waves of up to 11 meters in Southern Europe, vessels may be forced to slow down or seek shelter until conditions improve. This will have an impact on vessel ETAs into the UK. Below is a quote from a carrier : "Sea conditions are expected…
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