At the end of London International shipping week, the transport secretary Chris Grayling set out his thoughts on the future of UK shipping. His speech focused on the changes in transport, and how the maritime industry is not only contributing to that change, but are increasingly leading it. His first point concerned new technology and…
Unsurprisingly, cargo in Florida, Georgia and the Caribbean is expected to suffer delays following the devastation caused by Hurricane Irma at the weekend. Ports and airports have been closed, rail services are restricted and ships are rearranging port calls after many containerships fled. Cargo ships have powered away from the storm and were seeking…
According to the Department for Transports recently published 2016 final figures, total freight tonnage handled by UK ports declined by 3% in 2016. This decline is attributable to a large reduction in demand for coal imports. Despite this, steady growth has been experienced in unitised traffic, which saw its fourth consecutive year of growth in…
The shipping company has revealed that the cyber attack has cost $300 million in lost revenue. Maersk CEO Soren Skou said "In the last week of the 2nd quarter we were hit by a cyber-attack, which mainly impacted Maersk Line, APM Terminals and Damco. Business volumes were negatively affected for a couple of weeks…
It has been decided that plans for a 6th terminal will be halted to keep costs down whilst the 3rd runway is being built. Heathrow published its half yearly report last month, which made no mention of the proposed plans. Instead it stated that further investment in terminals 2 and 5 will go ahead…
During 2016 126 ports handled more than 1 million teu containers. According to DynaLiners report entitled millionaires roundup, 82 ports had experienced growth in the year with 5 ports showing growth of 25% or more. These ports were Chittagong, Bangladesh (26%), London (26%), Salalah, Oman (29%), Tangshan, China (27%) and Southampton (26%). 14 ports reached…
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…
As government negotiations to facilitate Britain’s exit from the European Union gather pace, the UK Chamber of Shipping says the EU is ignoring the risk Brexit could bring to European ports. According to one group of MPs the increase would be five fold and confidence in border arrangements post Brexit is alarmingly low. Her Majesty’s…
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…
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