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$5.5 billion! CMA CGM to acquire Bolloré Logistics

On April 18, the CMA CGM Group announced on its official website that it had entered into exclusive negotiations to acquire the transportation and logistics business of Bolloré Logistics. The negotiation is in line with CMA CGM’s long-term strategy based on the two pillars of shipping and l... Read More

The market is too pessimistic, Q3 demand will rebound

Xie Huiquan, general manager of Evergreen Shipping, said a few days ago that the market will naturally have a reasonable adjustment mechanism, and supply and demand will always return to a balance point. He maintains a “cautious but not pessimistic” outlook on the shipping market; The... Read More

Stop sailing! Maersk suspends another trans-Pacific route

Although container spot prices on the Asia-Europe and trans-Pacific trade routes seem to have bottomed out and are likely to rebound, demand on the US line remains weak, and the signing of many new long-term contracts is still in a state of stalemate and uncertainty.   The cargo volume of the rou... Read More

The foreign exchange reserves of many countries are exhausted! Or will be unable to pay for the goods! Beware of the risk of abandoned goods and foreign exchange settlement

Pakistan In 2023, Pakistan’s exchange rate volatility will intensify, and it has depreciated by 22% since the beginning of the year, further pushing up the government’s debt burden. As of March 3, 2023, Pakistan’s official foreign exchange reserves were only US$4.301 billion. Al... Read More

Cargo volume at the Port of Los Angeles has dropped by 43%! Nine of the top 10 U.S. ports have fallen sharply

The Port of Los Angeles handled 487,846 TEUs in February, down 43% year-on-year and its worst February since 2009. “The overall slowdown in global trade, extended Lunar New Year holidays in Asia, warehouse backlogs and shifts to West Coast ports exacerbated February’s decline,” ... Read More

Containerships in U.S. waters halved, ominous sign of global trade slowdown

In the latest ominous sign of a slowdown in global trade, the number of container ships in U.S. coastal waters has fallen to less than half what it was a year ago, according to Bloomberg. There were 106 container ships in ports and off shorelines late Sunday, compared with 218 a year earlier, a 5... Read More

Maersk forms an alliance with CMA CGM, and Hapag-Lloyd merges with ONE?

“It is expected that the next step will be the announcement of the dissolution of the Ocean Alliance, which is estimated to be at some point in 2023.” Lars Jensen said at the TPM23 conference held in Long Beach, California a few days ago.   Ocean Alliance members include COSCO SHIPPIN... Read More

This country is on the brink of bankruptcy! Imported goods can’t do customs clearance, DHL suspends some businesses, Maersk actively responds

Pakistan is in the midst of an economic crisis and logistics providers serving Pakistan are being forced to cut services due to foreign exchange shortages and controls. Express logistics giant DHL said it will suspend its import business in Pakistan from March 15, Virgin Atlantic will stop flight... Read More

Breaking! A Cargo train derails, 20 carriages overturned

According to Reuters, on March 4, local time, a train derailed in Springfield, Ohio. According to reports, the derailed train belongs to the Norfolk Southern Railway Company in the United States. There are 212 carriages in total, of which about 20 carriages have derailed. Fortunately, there are n... Read More

Maersk sells logistics assets and fully withdraws from Russian business

Maersk is one step closer to ceasing operations in Russia, having struck a deal to sell its logistics site there to IG Finance Development. Maersk has sold its 1,500 TEU inland warehouse facility in Novorossiysk, as well as its refrigerated and frozen warehouse in St. Petersburg. The deal has bee... Read More

Uncertain 2023! Maersk suspends a US line service

Affected by the global economic downturn and weak market demand, the profits of major liner companies in Q4 2022 have dropped significantly. Maersk’s freight volume in the fourth quarter of last year was 14% lower than that of the same period in 2021. This is the worst performance of all carriers... Read More

A shipping company suspends US-West service

Sea Lead Shipping has suspended its service from the Far East to the West US. This comes after other new long-haul carriers pulled out of such services due to a sharp drop in freight demand, while service in the US East was also questioned. Singapore- and Dubai-based Sea Lead initially focused on... Read More
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