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...Asked if the acquisition spree was over, he hinted that the pace would slow: “We have a lot of important integration work to do . . . a transformation is never complete.”...
...While no one has yet claimed responsibility for the incident, Tanker Trackers, a private maritime intelligence service, suggested it was likely to be Iran....
...“We often rely on the same-day service when completing a shipping transaction, such as a ship purchase or financing....
...A US hedge fund is seeking to reverse a high-profile deal between Frontline, controlled by shipping magnate John Fredriksen, and one of Belgium’s oldest shipping dynasties....
...From there, short-distance “feeder” services ferry goods to other southern European terminals....
...The 102-day time required to complete a loop between Asia and north Europe and back via the Cape of Good Hope means a line needs to deploy 16 ships for a weekly service, instead of the normal 12....
...“Our schedules are in complete disarray and we’re not able to stick to our timings because sometimes we’re passing around Good Hope and sometimes we’re having to wait to pass” the Red Sea, Saadé said....
...Container shipping alliances offer customers a wider range of destinations and services because lines share space on each other’s ships....
...GXO, which is based in Greenwich, Connecticut, specialises in providing supply chain services including customer deliveries....
...According to Clarksons, the shipping services group, long-distance seaborne car shipments in 2023 were 17 per cent higher than the previous year, largely because of big increases in exports from China....
...Transits along the route are almost 70 per cent higher so far this year, according to the IMF’s Portwatch service. This is sparking fears of a supply crunch of ship capacity....
...Mallon expressed hope, nevertheless, that shipping lines’ service patterns would “stabilise” as arrivals via the Cape settled into a regular pattern....
...Maersk, operator of the world’s second-biggest container ship fleet, said it had “suspended” slow-steaming on some services to catch up on “some of the delay” from sailing around the Cape of Good Hope....
...“It is always inevitable that Hong Kong would contract as a port,” said Tim Huxley, chair of Hong Kong-based shipping investment company Mandarin Shipping. “Manufacturing moved elsewhere....
...Lines are also facing high costs to lease the extra ships required to maintain services via the longer routes and higher insurance rates. “It’s more fuel that’s needed, more maintenance, storage . . ....
...“We only provide that service to a very select clientele now,” Johnson said of the armed guards....
...Recent Houthi attacks on container ships in the Red Sea have begun to push up air freight rates and shown fresh pockets of demand for such services....
...CMA CGM, the French shipping group, last month agreed to buy the company for 450p a share in a recommended bid....
...new services....
...Shipping lines are also diverting some services between Asia and the US east coast that previously went via the Red Sea and the Suez Canal....
...Figures from Clarksons, the London-based shipping services company, suggested that more classes of ships were beginning to divert: between January 13 and 15, arrivals of dry bulk carriers in the Gulf of...
...Maersk’s decision coincides with similar moves by other shipping groups....
...Figures from Clarksons, the London-based shipping services company, show that in the week to January 28 average daily arrivals of dry bulk vessels around the mouth of the Red Sea were down by 45 per cent...
...Beyond meeting its own logistics needs, Amazon’s third-party shipping service could mushroom into a new business area akin to its cloud computing....
...service, said an already bad situation in the Red Sea and Gulf of Aden had “got worse”....
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