Mastercard’s Menendez: Solving Freight’s Big Payment Frictions

Mastercard’s Menendez: Solving Freight’s Big Payment Frictions-Forwardernews

In a world driven by the promise of on-demand and even same-day delivery, online shopping for many items, such as furniture, can come with one massive headache: long, vague shipping window times due to the very fragmented, paper-based and manual processes that characterize today’s logistics and freight forwarding space, an industry that is estimated to be worth $2 trillion.
That fragmentation also creates a big headache for the many players along the freight forwarding value chain, who all have their hands in getting Mary’s deck furniture from the warehouse to her front door.

Hyundai Merchant Marine Selects 3 Yards to Build Eco-Friendly Mega Containerships

 South Korea's Hyundai Merchant Marine (HMM) has selected the shipbuilders who will build the eco-friendly mega containerships it is to order under its "Capacity of 1 Million TEU Strategy."...

Navios Maritime Containers Adds 10,000 TEU Vessel

Navios Maritime Containers Adds 10,000 TEU Vessel-Forwardernews

The vessel is chartered out at a net rate of $26,663 per day until March 2019. The vessel is expected to generate approximately $6.8 million of EBITDA for the first year, assuming (a) revenue based on contracted time charter rate through the charter expiration date and same rate per open day thereafter and (b) operating expenses in line with the management agreement and normal operations.
The acquisition of the vessel was financed with cash on the balance sheet and a $25.0 million term loan facility. The facility has an amortization profile of 9 years, matures in June 2023 and bears interest at LIBOR plus 300 bps per annum.

Cargo ship bound for Sydney loses containers overboard off Central Coast

Multimodal Americas-ForwardernewsCargo ship bound for Sydney loses containers overboard off Central Coast

Liberia-registered ship YM Efficiency lost the containers overboard as the ship made its way from Kaohsiung in Taiwan south to Port Botany.
The 83 containers were believed to have fallen off the ship in Commonwealth waters about 30 kilometers from the Central Coast.
Roads and Maritime Services executive director Angus Mitchell said the authority was notified on Friday afternoon, with another 30 containers aboard the ship sustaining damage.
“While the contents of the containers are unknown, we understood they do not contain dangerous goods,” Mr. Mitchell said. “A full manifest of the cargo on board the vessel, and the condition of the vessel is being sought.”

Maersk Line to levy $60 surcharge on rising fuel costs

Maersk Line to levy $60 surcharge on rising fuel costs-Forwardernews

"We have introduced an emergency fuel surcharge. For any shipping line, fuel is one of the key components of variable costs. We have seen an increase in bunker price of around 20 percent since the beginning of the year," the company's managing director for India, Sri Lanka and Bangladesh, Steve Felder, told PTI today. 
He said the surcharge varies as per geographic corridors in which it operates, but put the figure at an average of USD 60 per standard 20-foot container (TEU). The levy sets in from tomorrow for all the customers, except the ones in the US, where it would be from July 1, he said. Felder said the company's current contracts with customers allow for such emergency surcharges and added that the trade also understands the difficulties faced by the shipping lines. 

Shipping Giant’s Containment Plan Is Leaking Badly -Opinion

Shipping Giant’s Containment Plan Is Leaking Badly-Forwardernews

To recap, Maersk decided in 2016 to separate its energy and shipping activities so it could invest more in the latter. By now investors probably hoped to see some tangible benefits from all that upheaval, yet they’re pretty hard to spot.

Though comparable sales jumped 10 percent in the first quarter, that increase was to no obvious benefit. Maersk posted a $220 million quarterly loss from continuing operations as fuel costs rose faster than freight rates.

The businesses that Maersk is keeping the account for tens of billions of dollars of invested capital yet earned a negative return of 0.6 percent during the three-month period. That’s worse than the same period a year earlier, and nautical miles off its target of about 8.5 percent.

Shipping's financiers turning the tide on shipbreaking practices

Shipping's financiers turning the tide on shipbreaking practices- Forwardernews

Now, it is being called to account for a quarter that may have a bit more clout - its financial backers.

Norway's $1 trillion Oil Fund, a leader in ethical investing, in February sold its stake in four firms because they scrap on the beach.

Three of the firms excluded by Norway's fund - Taiwan's Evergreen Marine, Precious Shipping and Thoresen Thai Agencies (TTA) of Thailand - say they have been unfairly singled out. The fourth, Korea Line, declined to comment.

Norwegian life insurer KLP soon followed, selling shares in the one of the four it owned and blacklisting the other three.

Liebherr Launches First 100% Electric Portal Crane

Liebherr Launches First 100% Electric Portal Crane-Forwardernews

The new LPS 420 E is the latest extension of the Liebherr mobile harbour crane product range. All crane movements, including luffing, hoisting, slewing and travelling, are powered by electric motors.

As a member of the LHM series, modularity is key. The company says it is a universal all-rounder and a key asset for handling every type of cargo, from containers to bulk, general cargo and heavy lifts up to 124 t. Designed for ports and terminals with an electrical infrastructure, it is equipped with two winches, each with a powerful 190 kW electric motor. The lift and power capacity make it perfect for heavy break bulk as well as project and general cargo.

Ocean Freight Specialist Picks BluJay’s Customs Platform

Ocean Freight Specialist Picks BluJay’s Customs Platform

Tax-free goods specialist Sunny Europe has selected BluJay’s Customs Management software platform. With ambitions for strong growth in Europe, Sunny determined it was important to work with a single software system with which it can handle declarations in all countries. The company chose BluJay Solutions’ Customs Management as the right tool to achieve its goals.

Sunny Europe is a trading company in tax-free goods, specialising in ocean freight. Sunny Europe is active in all seaports of Belgium, the Netherlands and Northern Germany, and has the goal to add several other European countries.

Seaspan Nabs USD 120 Mn for GCI Newbuild Duo

The newbuildings are set for delivery in the second quarter of this year and are part of the 18-strong fleet of Greater China Intermodal Investments LLC (GCI), which was acquired by Seaspan in the first quarter of this year.

The 18 containerships are comprised of 10,000 TEU and 14,000 TEU eco-class vessels, representing a total of 204,000 TEU.



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