Total 203 Posts
MSC has acquired a 67% stake in Log-In Logistica on 21 Jan 2022
Maersk has reached an agreement on 22 December 2021 to acquire LF Logistics from current owners Li & Fung (78.3%) and Temasek Holdings (21.7%) for a total enterprise value of $3.6 Bn, with an additional earn-out of up to $160M from future earnings. The transaction will involve LF Logistics' In-Country Logistics (ICL) business which has a projected revenue of $1Bn with an adjusted EBITDA of $250M in 2021, implying a 14.4x EBITDA multiple on the purchase price. The ICL business operates a network
Bollore announced on 20 December 2021 that MSC has made an offer to acquire Bollore Africa Logistics for €5.7 Bn (US$6.4 Bn). MSC has until 31 March 2022 to put in a final bid. Bollore Africa Logistics is the biggest transport and logistics operator in Africa with 250 subsidiaries and some 21,000 employees in 49 countries, including 47 in Africa. It is present in 42 ports and operates 16 container terminal concessions and 7 ro-ro terminals, with over 90% of its revenue coming from its port op
Emirates Shipping (ESL), China United Lines (CUL) and Global Feeder Shipping (GFS) will jointly launch a new Vietnam Gulf India/Vietnam-Gulf Express (VGI/VGX) service in January 2022. The service will turn in 5 weeks and call at Ho Chi Minh City, Laem Chabang, Port Klang, Sohar, Jebel Ali, Nhava Sheva, Port Klang, Ho Chi Minh City. 4 ships will be used initially with one blank sailing in each 5 week cycle. The first sailing is scheduled at Ho Chi Minh City on 18 January with the 2,741 teu GFS
Samudera has started a new Singapore-Nhava Sheva service using 2 ships of 1,800 teu, the SINAR SUNDA and SINAR SORONG. The service is branded as the Nhava Sheva Singapore Express (NSX) with COSCO and ONE already signed up to take slots on the service, with COSCO retaining the NSX name while ONE calls the service Singapore India Express (SIX). The first sailing started on 13 December 2021 from Singapore.
The Ellerman name is revived by Iain Liddell for a new service connecting China to the UK but the service will be marketed under the UniOcean Lines brand. The service has kicked off on with the 2,464 teu BUXHANSA that called at Ningbo on 7 December 2021 and Dachan Bay on 11 December. The ship is currently heading to the Tilbury in the UK. Ellerman has also taken the newly delivered 2,756 teu CAPE HELLAS, that has been chartered for 30 months at a reported daily rate of $54k. The ship docked at
ZIM has launched a new ZIM Med-ISC (ZMI) service connecting Israel and Turkey to the Indian subcontinent. 4 panamax ships of 4,250-4,310 teu will be deployed on the new service that calls at Mundra, Nhava Sheva, Colombo, Haifa, Mersin, Ambarli, Mundra. The first sailing is scheduled on 17 December 2021 with the 4,250 teu SEASPAN FELIXSTOWE, to be followed by SEASPAN DALIAN, TONGALA and KOTA LAGU. ZIM Med-ISC (ZMI) service route
Although spot freight rates to North Europe have declined from their peak in January 2021, various carriers are adding ad-hoc sailings on this route using MPP tonnage
Singamas may deliver over $90m in 2021, equivalent to half of its current market capitalization.
Record high rates have pushed freight forwarder DSV to mount its first self operated sailing on the Asia-Europe route using chartered MPP ships.