News

Hong Kong strike ends……….

07/05/2013

The largest industrial action in Hong Kong for decades has finally ended after hundreds of port workers compromised and accepted a pay increase offered by contractors of Hong Kong International Terminals (HIT). The compromise was achieved when the workers accepted a reduced pay increase from what they had been wanting but the employers, for their part, provided written guarantees to improve working conditions and reassurances as to future wage increases.

Hutchinson Port Holdings, which owns HIT, hailed the the decision from the workers to compromise and return to work stating that this was beneficial for all parties in as much as the workers can return to their posts and the Company can focus on restoring the port to its full operational capabilities.

More big ship orders……

03/05/2013

Attempts by carriers to tackle the capacity overhang are being undone as new orders for ultra-large container vessels (ULCV’s) continue to make the headlines. The news that a number of shipping lines are commissioning super-size containerships is proof that the demand for these fuel efficient ULCV’s is warranted. However, the new latest orders will not actually hit the water for a number of years. The ocean carriers have been doing a decent job over the winter months balancing supply to ensure that freight rates remained relatively firm but, delivery of the new big ships may mean that the lines will find that task increasingly difficult and the effect that this situation will have on the freight rates will become clearer over the months ahead.

Night flights generate economic growth

01/05/2013

The CBI has urged the Government to maintain the current night flights regime for Heathrow, Gatwick and Stanstead airports stating that they play a key role in the aviation industry and generate millions of pounds in investments and exports from the UK. Nightflights allow the UK to compete in a 24 hour, seven days a week, global economy which is especially helpful when growth is currently so fragile. The flights under discussion are those that can’t be made during the day and are, in the main, involved in the express delivery industry. Freight arriving overnight can be shipped first thing in the morning. The aviation industry stated that they have made major strides with quieter plans coming into operation on a month by month basis.