Newsletter – February 21, 2019

OCEAN FREIGHT UPDATES

Supply chain radar: Maersk results out – don’t panic yet, a new blue star is born

theloadstar.co.uk
A quick and dirty take on AP Møller Mærsk (APMM)’s fourth-quarter and annual results, released this morning, which confirmed the Danish group is getting leaner but is still in full restructuring mode – notably, its financials are almost unrecognisable compared to only three/six months ago. Read more here. 

HMM CEO quits

splash247.com
CK Yoo is resigning as president and CEO at HMM, South Korea’s flagship carrier. In an internal note sent to employees and seen by Splash today, Yoo thanked his colleagues for the “reconstruction of HMM from the disarray for the last two and half years”.  Read more here. 

Hapag-Lloyd shuffles fleet to handle broken down ship

splash247.com
Hapag-Lloyd has dispatched the 1,700 teu Nordviolet to Venice to take over shipments on the line’s Adria Express (ADX). Read more here. 

Beijing mega plan to integrate HK, Macau raises tricky questions

seanews.com.tr
BEIJING has announced that it wants to turn the ‘Greater Bay Area’ covering the Pearl River Delta, into a leading global innovation hub, boost infrastructure connectivity and strengthen Hong Kong’s role as an international centre of finance, shipping, trade and the offshore yuan business. Read more here. 

CANADA BUSINESS – GOVERNMENT UPDATES

Canada and US shipping associations join efforts to protect the Salish Sea

splash247.com
Canada’s Chamber of Shipping and the US-based Pacific Merchant Shipping Association has announced their joint support for continued binational federal leadership in ensuring safe and sustainable shipping on the Salish Sea. Read more here. 

INTERNATIONAL BUSINESS

Hong Kong warns exporters to mind end-use controls

americanshipper.com
The Hong Kong government’s Trade and Industry Department is urging overseas companies that use the special administrative region of China to stage their goods for later export to “know the customer, end user and end use.”  Read more here.