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Maersk Prepares More Redundancies Across The World The world’s largest container line, Maersk, is cutting staff as it focuses on profitability and free cash flow. Jobs are set to be cut at the company’s Copenhagen headquarters as well as overseas, with the recent acquisition, Hamburg Sud, expected to see its headcount reduced noticeably. In a statement, Maersk said: “We have announced internally the need to save cost in our head office functions and that it will also lead to reductions both in and outside Denmark. We do not yet know the exact extent or how many are affected, but this is something we are currently discussing as part of the process intended for it. “The savings are a natural part of the ongoing priority, where we focus on supporting our strategy and creating value for our customers.” CEO Søren Skou said, “We will continue our focus on profitability and free cash flow in Q4 and into 2020.” CMA CGM Plans To Sell Selected Port Terminals, Ships And Other Assets To Raise Roughly $2 Billion French container shipping hulk CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters. The deals would help CMA CGM to ease liquidity pressure. CMA CGM’s debt stood at $19.9 billion at the end of March, according to the shipping-research organization Alphaliner. CMA CGM is also raising about $860 million from a ship sale and lease-back deal. Another $93 million will come from the sale of its stake in a logistics hub in India. The company has been aggressive in exploring acquisition opportunities overseas in recent years, to achieve business growth. India Permits Nepal To Use Inland Waterways For Cargo Movement The Nepal-India Transit Treaty review meeting finalized Standard of Procedure (SoP) for Nepal to use three inland waterways routes on Ganges River — Kolkata-Kalughat- Raxaul, Kolkata-Sahebgunj-Biratnagar and Kolkata-Varanasi-Raxaul. Agreement to allow Nepal to use these routes for inland waterways transportation will add a new dimension to Nepal-India bilateral trade and the country’s third-country trade via India . India has already developed waterways on the Ganges, connecting Varanasi and the seaport of Haldiya. Nepal’s access to Indian waterways will not only ease the movement of cargo imported from third countries but will also help reduce transportation cost of imported goods. As a pilot programme, the transshipment modality has been applied in trade through Visakhapatnam and Birgunj. Similarly, the Electronic Cargo Tracking System (ECTS) has also being applied in this trade route. ACL and Peel Ports Sign Long Term Contract Extension Atlantic Container Line (ACL) has agreed with a 15-year extension for container and roll-on/roll-off operations until 2035, having operated its vessels at the Port of Liverpool since 1967, Peel Ports Group, which the Port of Liverpool sits within, is making a continued investment at RSCT to accommodate ACL’s new fleet of G4 vessels . The entire project is expected to be completed by 2021. ACL ships over 125,000 units of containers, cars and RORO machinery per annum, and supports a substantial supply chain with a critical link between the UK’s export and import trades. AMTOI’s Holds Conference On Multimodalism In Delhi The Association of Multimodal Transport Operators of India’s (AMTOI) North Region Chapter held its first conference on “Multimodalism” on discussing its different aspects. The significance was particularly given to the recent government interest in formulating logistics policies and the changes suggested to be framed to regulate the sector. AMTOI emphasizes that the logistics industry would transform through a transition from a segmented transport system to an end-to-end transport service-driven industry and that intermediaries have a big role to play in the supply chain and should be provided with a level playing field in the context of the global logistics industry. Sources: https://splash247.com/maersk-readies-more-redundancies-across-the-world/ https://www.marinelink.com/news/cma-cgm-raise-bn-via-selling-terminal-473360 http://www.maritimegateway.com/india-allows-nepal-use-three-inland-waterway-routes-cargo-movement-ganges-river/ https://www.porttechnology.org/news/atlantic-container-line-and-peel-ports-sign-long-term-contract-extension/ http://eximin.net/NewsDetails.aspx?name=42663