Europe

A regulatory filing revealed that the shipping giant MSC 'and the buyout fund BlackRock retracted their request to the European Union’s?antitrust regulator to approve their -plan to -buy the Barcelona port terminal, owned by CK Hutchison. Last December, the EU Commission, the EU's competition enforcer, launched a full-scale investigation on the grounds that the deal could lead to higher prices and a reduction in the quality of container terminal services. In the deal, Terminal Investment Limited Holding (TiL), a subsidiary of MSC Mediterranean Shipping Company based in Switzerland, and BlackRock would acquire joint control over Hutchison’s terminal at Barcelona Port....

The agriculture ministry warned on Monday that a disruption of grain exports through Black Sea ports could lead to a shortage of grain storage capacity in Ukraine. Ukraine has harvested more than 17 millions metric tons from 34% of its sown land. The ministry stated that a storage shortage of 11 million tons could occur and it had asked U.S. Partners for assistance in acquiring equipment for temporary on farm?grain storage. APK-Inform analysts estimate that Ukraine's harvest in 2026 could reach 60 million tons. Exports are projected at 39 million tonnes, and carryover stock reaches a record 14.3 million tones....

APK-Inform, a 'consultancy', has cut Ukraine’s grain export forecast for 2026/27 from 43.1 million metric tons to 39.4?million metric tons. This is due to the halt of grain exports via?its Black Sea ports. In a report, the consultancy stated that it had reduced its export forecasts for wheat, barley, and corn. The volume could include 13,5 million tons wheat, 24 millions tons corn, and 1,5 million tons barley. In a report, it stated that "Ukraine’s grain export capacity...has been reduced due to a temporary stoppage of exports through the Deep-Water Ports of Greater Odesa as well as?high risk to civilian...

Ukraine and Russia both accused the other of deadly attacks on Sunday. President Volodymyr Zelenskiy said that Moscow had targeted global food security when it struck Odesa's port. Three people were 'killed and wounded 37 times in the eastern Ukrainian city?Kharkiv?where an apartment block of multiple floors was struck, and authorities in Russias Belgorod reported that five people were killed and twenty-five wounded by a Ukrainian aerial attack. Zelenskiy claimed that a strike had damaged Odesa's port. Local authorities reported that dozens of drones, missiles and other weapons struck the southern seaside town injuring about a dozen people. Zelenskiy stated...

Two Turkish officials said on Sunday that ships are moving'smoothly' through the Turkish Straits to?the Black Sea, despite increased safety concerns. Bloomberg News reported on Saturday that Ankara has restricted commercial ship traffic into the Black Sea after attacks against vessels, including Turkish-owned vessels. The Turkish government has repeatedly warned Moscow and Kyiv about the attacks on ships in the Black Sea. It has urged the warring parties to take steps to ensure navigational security in the region. Hakan Fidan, the Turkish Foreign Minister said that Ankara has urged Moscow and Kyiv to declare a moratorium on attacks in the...

The new German transport minister has said he wants to tie bonuses to the struggling national 'rail operator' meeting government targets. In an interview with 'newspaper Bild am Sonntag published on Sunday, Steffen Bielger said: "It would have a tangible impact on bonuses paid to managers at Deutsche Bahn if the government targets are not met." Transport experts believe that the problems of Deutsche Bahn are due to decades of 'underinvestment' in infrastructure despite an increase in rail usage, as well as 'its status as a JSC aiming to make a profit while providing a public service. Bilger, who was...

The Russian Embassy in Berlin on Friday dismissed a suspected 'drone attack' at a major German?air?freight hub as a "fabricated provocation", saying that it was yet another example of accusations made against Russia without any evidence. The?embassy expressed its concern over a new wave in anti-Russian hysteria that has swept Germany, according to a statement posted on the website of its German and Russian versions. The German Federal Prosecutors launched an investigation this week on what they described as a serious incident that could have affected foreign and domestic security. The drone was discovered late Tuesday night at the Leipzig/Halle...

The President of Russia, Vladimir Putin, has approved the sale of the 30.4% government stake in the Sheremetyevo airport, the largest airport in Moscow, at a moment when Russia seeks to?restore its war-depleted finances. Putin signed a decree Thursday removing Sheremetyevo's name from the list of official strategic enterprises. The state will still retain a "golden share" that allows it to block management decisions. The decree prohibits the sale of a stake to foreign investors and requires that the purchaser continue with 'the core business' and modernisation. The four-and-ahalf years of conflict in Ukraine have put a strain on the...

I Squared Capital, a global infrastructure investor, will purchase Indonesian logistics and cold storage company Cella. This marks its entry into Southeast Asia’s largest economy, as it plans to expand a lot over the next 4 or 5 years. Harsh Agrawal, senior partner at Cella and based in Miami, said that the investor wants to increase Cella's cold storage and warehouse space from 231,000 square meters to approximately 1.5 million square meters. I Squared has announced that it will purchase the entire business of NWP Property, a Japanese logistics facility specialist and CRE. The financial terms of the deal were...

The Black Sea region is the latest strategic trade chokepoint that has been hit by an escalating conflict. The Black Sea is an important route for grain, crude oil and refined products. The waters of the Black Sea are shared between Russia, Ukraine, Bulgaria, Georgia and Romania. In recent weeks, both Russia and Ukraine have intensified their attacks on the other's agricultural export vessels and facilities in the Black Sea region. Kyiv also increased its attacks on Russian oil tankers. The latest escalation creates another pressure point on commodity markets, already dealing with disruptions in major shipping routes across the...

The Black Sea region is becoming the latest strategic 'trade chokepoint' to be affected by an escalating conflict. The Black Sea is an important route for the shipment of?grains,?crude oils and refined products. The waters of the Black Sea are shared between Russia, Ukraine, Bulgaria, Georgia and Romania. In recent weeks, both Russia and Ukraine have intensified their attacks on the other's agricultural export vessels and facilities in the Black Sea region. Kyiv also increased its attacks on Russian oil tankers. The latest escalation creates another pressure point on commodity markets, already dealing with disruptions in major shipping routes across...

According to industry sources, and calculations, Belarusian gasoline and diesel supplies to Russia reached a monthly record in July. Fuel shortages were caused by unplanned outages at Russian oil refineries after months of relentless 'Ukrainian drone attacks. According to industry data and calculations, the Russian gasoline production had dropped early in July, to around 65% the average seasonal consumption. Diesel production had also fallen to the same level as domestic demand. The?Russian Government, in response to rising fuel prices at retail and wholesale, banned diesel exports. However, it allowed exemptions under previous contracts and intergovernmental agreements. Export restrictions for gasoline...

German authorities opened a counterterrorism probe after a drone containing explosives, which was found at the Leipzig/Halle Airport cargo and military logistic hub in what interior minister called a "hybrid attack", was discovered. The drone was discovered by airport workers in a restricted zone late Tuesday night, causing flight cancellations and the closure of certain parts of the airport. On Wednesday, German Interior Minister Alexander "Dobrindt" said that the incident had opened up a whole new level of risk. Here are some details on the drone incident that occurred at Leipzig/Halle Airport this week. From a World War Two Destrotion...

The Sueddeutsche Zeitung, among other news outlets, reported that a Ukrainian cargo aircraft found parked next to an explosive-laden drone at Germany's Leipzig/Halle Airport on Tuesday night was actually carrying military ammunition. The report, also broadcast by NDR and WDR, cited a confidential police report and said that forensic experts determined the explosives on the drone to be of high military grade. These findings could raise the stakes of a wider counterterrorism investigation into the incident at a?airport that serves as a major military and cargo logistics hub, which the German government has classified as critical infrastructure. Alexander Dobrindt, the...

Russia said on Wednesday it had struck seven 'logistics centers in Kyiv, and the surrounding area overnight that were used to store or 'distribute goods for dual-use?and drones components.? And that its forces have hit three cargo vessels in the Black Sea. Could not independently verify the claims of the ministry about the nature and quantity of goods stored at the target sites. The attacks, which Ukrainian officials said killed at least fourteen people, were part an intensifying bombing campaign against what Russia claims are targets related to Ukraine’s drone forces. Since July 18, Ukrainian drones have attacked at least...

DHL, the German logistics group, increased its share-buyback program by EUR 500 million ($ 577 million) and reiterated its yearly forecasts following its second quarter results that exceeded market expectations. The group announced that the program, which was launched in 2022, will now be worth up to EUR6.5billion and run until 2027. DHL's revenue for the second quarter rose by 13% from a year earlier to EUR22.4 billion. This was above analysts' expectations of EUR20.41 billion in a consensus provided by the company. The group stated that the increase in fuel prices was due to higher fuel costs and higher...

CMA -CGM, a French shipping company, has acquired FedEx's "third-party logistics" business, valued at $1.4 billion. The deal was announced on Wednesday, in an effort to increase its presence both in the United States and the logistics industry. The deal, which is expected to be completed later this year, will give CMA CGM, via its CEVA Logistics subsidiary a total of 20,000 contract logistics employees and 150 warehouses in North America. CMA CGM announced that following the acquisition the companies will also develop partnerships, under which CMA CGM would be the "preferred ocean carrier" for FedEx, and they would collaborate...

The Financial Times reported that the French container shipping company CMA CGM was 'nearing' a deal to buy FedEx's third-party logistics division for $1.4 billion cash. The report said that the talks between the two companies have advanced to a point where a deal may be reached as early as Wednesday. Could not verify the report immediately. CMA CGM and FedEx didn't immediately respond to comments outside of regular business hours. CMA 'CGM will be diversifying into air freight and logistics. FedEx will be able to focus on its core network of air-ground deliveries after selling its third-party logistic business...

FedEx beat estimates for its quarterly profits?and projected an 11% increase in revenue by 2026. However, shares fell 5.7% after a margin drop in the core express segment. Delivery giant also predicted earnings per share between $16,90 and $18,10 for the year. It has shifted its fiscal year from May to coincide with the calendar, instead of its previous year-end. Analysts are still working on'models' that will allow them to compare the new forecast with their previous one. It also follows its June 1 spin-off of its freight trucking division, FedEx Freight. This is part of a multiyear effort by...

FedEx, a global delivery company, said that it expects its revenue to increase?about 11 percent and earnings per share to be in the range of 16 to 18 dollars. This comes after reporting on Tuesday a higher profit for the fourth quarter, helped by increased rates. FedEx's fiscal year has been aligned with the calendar. The fiscal year of FedEx ended on May 31, previously. This comes just weeks after FedEx Freight was spun off on June 1, as part of a multi-year effort to streamline its operations and reduce costs by billions of dollars. FedEx reported an adjusted profit...

Companies are trying to protect their workers and keep operations running as temperatures in Europe reach above 40 degrees Celsius. They also want to take advantage of the soaring demand that could be a relief. DHL, the German logistics giant, has provided its delivery staff in Germany with "cool boxes", which contain reusable cooling towel, water-activated arm coolers, and UV-protective collar guards. Construction firms have shifted their working hours so that they start earlier and end before the hotter part of the day. Retailers are struggling to meet the demand for portable air conditioners and fans. DHL stated that "extremely...

Gregor Stuart Hunter gives us a look ahead at what the markets will be like in Europe and around the world. The yen is once again near its lowest levels?in the last 40 years, and the possibility of a joint intervention is looming after the?U.S. and Japan's finance minister met online. Treasury Secretary held an online "meeting" to discuss global financial markets. In the morning Asian trading on Tuesday, the yen traded at 161.60 to a dollar, its lowest level in two-years. It had moved within a few pip of levels that were not seen in decades during U.S. market...

DHL Express Europe believes that its aviation fuel supply is secure for the summer, despite the uncertainty caused by Iran's war. This was made possible by diversifying its sources and easing market pressures, according to Chief Executive Mike Parra. The jet fuel market has loosened over the past few weeks, as the demand for the product has weakened and the imports of it into Europe from the United States have increased. DHL Express is the largest division within German logistics and post services group DHL. It employs approximately 120,000 people around the world. DHL Express operates a fleet consisting of...

DHL Express Europe's CEO, Mike Parra, said that despite the uncertainty caused by a looming war in Iran, it is confident about its aviation fuel supplies for the summer. This is due to easing market pressures and diversifying its sources. In an interview with Parra on Tuesday, he said: "At this time, we do not have any risk" in major hubs, gateways or?major cities. No disruptions are anticipated. In recent weeks, the jet fuel market has loosened as the demand for it has slowed and imports from the United States of America, Nigeria, and South Korea have increased. The head...