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OceanX: Seoul beckons; Zim's $183/unit (outperformance); trade wars back on

Reached South Korea finally on Thursday last week after a quick stop in Shanghai to catch up with a colleague and have some local dumplings. Great to be back. My last trip out here was in Jan 2023, when the remnants of the pandemic were still present. Nice to see Seoul fully back... being able to look into people's beautiful faces instead of facing masks everywhere (the country is a main exporter of beauty products for a reason!).

Klaus-Michael Kuehne, who towered over forwarding and shipping, dead at 89

The honorary chairman of Kuehne+Nagel and largest single shareholder in Hapag-Lloyd has died, leaving an empire that straddles both sides of the logistics counter and an open question about what comes next. There was no one else in global logistics quite like Klaus-Michael Kuehne. The German billionaire, who died on Monday at the age of 89, occupied a position that was structurally unique and, to competitors, frequently unnerving: controlling owner of the world's number-one sea and air freight forwarder, ...

Hapag-Lloyd to acquire 25% of box terminal at Rotterdam vital to Gemini

Hapag-Lloyd is set to increase its presence in Europe's largest gateway - a key pillar of the Gemini Cooperation's hub-and-spoke network. The German carrier is to acquire a 25% stake of APM Terminals' Maasvlakte II in Rotterdam to strengthen its long-term access to "automated terminal capacity" and boost its position in "one of Europe's key container hubs". The deal will see Hapag-Lloyd support the terminal's development, capacity expansion, and operational performance alongside APMT, which will retain operational control. It also reinforces Maasvlakte II's role as a key European hub for the vessel-sharing partnership between Hapag-Lloyd and Maersk. "With the planned investment in Rotterdam, we will further enhance the efficiency and reliability of our network. The terminal is a key element for the Gemini Cooperation and fits well with our strategy to build a stronger terminal portfolio in core markets," said Dheeraj Bhatia, CTIO of Hapag-Lloyd and CEO of Hanseatic Global Terminals, the carrier's terminals and infrastructure division. APMT CEO Keith Svendsen added: "Hapag-Lloyd's investment is a strong vote of confidence in a terminal that is critical to the Gemini network and to Rotterdam. "APM Terminals remains the operator and our ambition is to make Maasvlakte II the best terminal in Northern Europe for every customer calling. That means improving safety, quality, delivery, and cost, in that order, while expanding deepsea berth and teu capacity to support customer growth over the decades." Operational since 2015, Maasvlakte II is undergoing a major expansion that will add 1,000 metres of deepsea berth, taking its total to 2,000 metres, more yard capacity, four additional rail tracks, as well as automated terminal tractors and other equipment, and take annual handling capacity to 5.4m teu. Financial details of the deal were not disclosed, and completion remains subject to approval from relevant authorities and regulators.