News — international trade

223 additional warehousing facilities worldwide! Maersk buys Li & Fung Logistics in Hong Kong for US$3.6 billion →

Global Supply chain international trade

223 additional warehousing facilities worldwide! Maersk buys Li & Fung Logistics in Hong Kong for US$3.6 billion →

Maersk to enhance logistics capabilities in Asia Pacific through acquisition.On December 22, A.P. Muller Maersk (MAERSKa) ("Maersk") announced that it has reached an agreement to acquire LF Logistics, a contract logistics company headquartered in Hong Kong, China, in a transaction valued at US$3.6 billion, subject to regulatory approval, according to Maersk Group WeChat. The acquisition, which is subject to regulatory approval, is expected to be completed in 2022. According to the introduction, Li & Fung Logistics is a private company jointly owned by Li & Fung Limited and Temasek Holdings, with Li & Fung and Temasek holding 78.3% and 21.7%...

Read more →


Market Demand and Freight Rates Will Remain Strong Through 2022

Global Supply chain international trade

Market Demand and Freight Rates Will Remain Strong Through 2022

A freight forwarder reports that no real disruption or significant decline in air cargo demand is expected in the first half of 2022, and rates may remain high.Even the Lunar New Year holiday, which runs from Jan. 31 to Feb. 6, is likely to be busy, said one Shanghai-based freight forwarder."There are strict quarantine regulations due to the Beijing Olympics, and the government will likely again encourage people to cut back on unnecessary travel during the Chinese New Year. This means that some factories will still be producing goods and there may not be as long a hiatus as in...

Read more →


Port congestion has eased, but high ocean freight rates may continue to...

Global Supply chain international trade

Port congestion has eased, but high ocean freight rates may continue to...

  01 U.S. agricultural exporters are calling for greater scrutiny of the behavior of shipping alliances and shipping companies during the pandemic.Today, a global alliance system dominates global shipping, with nine carriers forming three alliances that control about 80 percent of the global shipping market and 95 percent of important east-west trade routes," said the Agricultural Transportation Alliance (AgTrans). "Until 2011, alliances controlled 29 percent of the market," added AgTrans, "and the lack of competition left U.S. companies at the mercy of three alliances. Even if they can't move their containers, retailers need to charge for containers that remain on...

Read more →


Strike at Australia's Patrick Terminal halted, but shipping congestion and delays continue to worsen →

international trade

Strike at Australia's Patrick Terminal halted, but shipping congestion and delays continue to worsen →

The Maritime Union of Australia (MUA) has halted strike action against Patrick Terminals - but the impact of the strike has caused long delays on Melbourne's landside. The MUA announced the latest work stoppage at Patrick's four container terminals in late September, including a shift action at East Swanson Terminal in Melbourne in October.Patrick then applied to the Fair Work Commission (FWC) to terminate its enterprise agreement with the MUA, claiming it had "had enough" after 19 months of deadlocked negotiations.On Monday, the terminal operator called on the FWC to end the MUA's strike action.Patrick CEO Michael Jovicic said, "Since...

Read more →


OUTBURST! A CONTAINER SHIP OWNED BY MSC WAS ATTACKED BY ARMED GROUPS IN THE GULF OF GUINEA

international trade

OUTBURST! A CONTAINER SHIP OWNED BY MSC WAS ATTACKED BY ARMED GROUPS IN THE GULF OF GUINEA

01 According to foreign media reports, on October 25, a container ship owned by MSC Lucia was attacked and boarded by unknown armed men at SW Agbami terminal in the Gulf of Guinea. According to Mike, the ship docked at the port of San Pedro in C?te d'Ivoire last week and then crossed into Lome, Togo, on 22 October, leaving Lome on the morning of 24 October and crossing the Gulf of Guinea in a south-easterly direction. At around 0900 GMT on the 25th, the MSC Lucia slowed down from section 14 to a stop about 150 nautical miles north-west...

Read more →