Japanese merged carrier Ocean Network Express (ONE) recorded a net loss of $586m in its first year of operation, however it said it expected to move into the black in its second year. ONE, formed from the container businesses of K Line, MOL and NYK,was supposed to produce synergistic returns for its parents. Instead it has dragged down the P&L…
April 24, 2019 /
The International Maritime Organisation has been urged to clarify four areas of IMO 2020, as carriers scramble for compliance with the forthcoming low-sulphur fuel limit. The “once-in-a-generation disruptor to shipping’s commercial environment” takes effect on 1 January 2020: a fuel sulphur content limit of 0.5%, down from 3.5% in some parts of the world, at…
April 17, 2019 /
LNG is the most environmentally friendly, readily available fuel for shipping today – and in the foreseeable future, according to a new study. With the IMO’s 0.5% sulphur cap regulations coming into force next January, along with its target of halving C02 emissions from shipping by 2050, decisions need to be taken on alternative fuels.…
April 10, 2019 /
The port of Shanghai has maintained its position as the world largest container port. However, new data from Alphaliner today shows its lead over second-placed Singapore narrowed last year. Shanghai posted 2018 throughput of 42.01m teu, 4.4% growth on 2017, while Singapore handled 36.6m teu, representing growth of 8.7%. And the 5.41m teu differential between…
Supreme Freight staff members were at the Ageas Bowl last night for the Solent 250 awards dinner, and are pleased to announce that we came 65th! Very proud, and we couldn't have done it without our wonderful staff or our loyal customers! The Solent 250 lists the top 250 companies headquartered in the Solent region,…
Freight operators have welcomed HMRC’s decision to delay implementation of the Transitional Simplified Procedures for customs (TSP) in the event of a no-deal Brexit. Announced in February, the TSP matches trader numbers against trailers and postpones payment of import duties – but only for ro-ro traffic. TSP met with a fierce backlash from haulage operators…
March 20, 2019 /
Increased speeds and falling costs could see the China-EU land bridge handle more freight, some 2m teu a year, while IMO 2020 has the opposite effect on sea freight. Head of Russian Railways Oleg Belozyorov told delegates at the International Railway Congress in Vienna that new projects would boost transit times and create a better service for shippers. “A…
Ocean Alliance member CMA CGM and the 2M’s MSC are to jointly launch a service connecting northern Europe, the Mediterranean, Australia and South-east Asia. The partnership will see the carriers upgrade their respective Nemo and Australia Express services with the deployment of significantly larger tonnage, and is set to launch in September, assuming regulatory approval.…
The U.S. and China are close to a trade deal that could lift most or all U.S. tariffs as long as Beijing follows through on pledges ranging from better protecting intellectual-property rights to buying a significant amount of American products, two people familiar with the discussions said. Chinese officials made clear in a series of…
HM Revenue and Customs (HMRC) has written to 145,000 VAT-registered businesses trading with the EU about simplified importing procedures and also updated them on the actions that they need to take to prepare. Transitional Simplified Procedures (TSP) for customs will make importing easier for an initial period of one year, should we leave the EU…