What you missed while we were gone
Since the last Daily splash, our free newsletter, was published on December 20, there has been no slacking off in the big expedition stories amid roast turkeys and New Year’s fireworks.
Top developments readers might have missed over the Christmas season included $ 3.6 billion acquisition by Maersk of Hong Kong-based LF Logistics, a distribution company owned by Li & Fung and Temasek Holdings.
Not to neglect, Mediterranean Shipping Co (MSC) has launched an offer of 6.4 billion dollars to buy the African logistics activity of the Bolloré Group, while the board of directors of the Brazilian regional container transport operator Log-In Logistica has approved the acquisition of 67% of the company’s capital by MSC.
Line warchests are likely to inflate more. The Shanghai Containerized Freight Index (SCFI), an indicator of the spot markets, crossed the 5,000 mark for the first time in its history on December 31.
In dry bulk, the biggest news of the last fifteen weeks came from Jakarta where on Saturday the Indonesian government banned coal exports for January on concerns over local power outages amid tight supply backdrop. Many ships bound for the largest country in Southeast Asia have been left in limbo by the rapid export ban.
In gas transportation, the increase in LNG exports from the Gulf of the United States, estimated to overtake Australia and Qatar in 2022, as the world’s largest exporter saw another key chapter signed. Venture Global LNG and CNOOC Gas & Power Group, a wholly owned subsidiary of China National Offshore Oil Corporation (CNOOC), announced the signing of a 20-year sale and purchase agreement, marking the first LNG supply agreement signed by an American exporter with CNOOC, the largest Chinese importer of LNG.
In offshore, a Singaporean lifting boat operator in difficulty Ezion Holdings will be liquidated after failing to find a potential investor, it was announced on December 30. Trading in Ezion shares has been suspended since early 2019.
Finally, in the news of shipbuilding, the oldest shipyard in South Korea Hanjin Heavy Industries & Construction renamed as HJ Shipbuilding & Construction (HJSC).
the Daily splash the newsletter returns today, with the eight most important shipping stories from our correspondents around the world as well as four offshore news reports. The free letter goes out at 5:00 p.m. Singapore time, Monday through Friday. Register, Click here.