PUBLISHER: Splash247 (www.splash247.com)
Since the last Daily Splash, our free newsletter, was published on December 20 there has been no let up in big shipping stories amid the roast turkeys and new year fireworks.
The key developments readers might have missed over the Christmas period included Maersk’s $3.6bn acquisition of Hong Kong-based LF Logistics, a distribution company held by Li & Fung and Temasek Holdings.
Not to be left out, Mediterranean Shipping Co (MSC) made a $6.4bn bid to buy out Bolloré Group’s African logistics business, while the board of directors of Brazilian regional container shipping operator Log-In Logistica gave its approval to the acquisition of a 67% stake in the company by MSC.
Liner warchests are likely to swell further. The Shanghai Containerized Freight Index (SCFI), a bellwether of the box spot markets, broke through the 5,000 mark for the first time in its history on December 31.