By Christopher Jasper (Bloomberg) London based Babcock International Group said it’s in discussions with five countries on three continents regarding orders for its latest frigate warship design as global tensions stoke.
P&O Ferries’ abrupt firing of 800 UK-based ferry workers threatens to undermine 30 years of progress in improving the image of the ferry industry, says the CEO of rival Stena..
By Ania Nussbaum and Christopher Jasper (Bloomberg) — MSC Mediterranean Shipping Co., the world’s second-biggest container line, offered to buy the African transport and logistics business of Bollore SA for 5.7.
By Richard Weiss and Christopher Jasper (Bloomberg)
U.K. port snarl-ups would be exacerbated in a no-deal Brexit, shipping giant Hapag-Lloyd AG warned as vital ferry links to France remained closed for a second day amid concern about a new coronavirus strain.
While Prime Minister Boris Johnson’s government is desperately trying to re-open the key truck-ferry route between France and Dover, the No. 1 entryway for sea containers at Felixstowe, east of London, is itself badly congested. That situation will likely worsen without a trade accord with the European Union by a Dec. 31 deadline, according to Hapag-Lloyd.
“If there’s a no-deal Brexit there is going to be additional congestion and administrative troubles for the upcoming couple of months,” Rolf Habben Jansen, the firm’s chief executive officer, told Bloomberg Television. “Not so much because it’s a no-deal Brexit, but mainly because there’s a lot of unclarity about the rules that will then be in place.”
By Charlotte Ryan, Siddharth Philip and Christopher Jasper (Bloomberg)
At the Peterhead fishing port in Scotland, prices for haddock and monkfish were inverted on Monday, skewed by a closed border with France and a ticking clock that threatened to render some of its catch worthless.
Haddock normally sold wholesale for up to 3 pounds ($4) per kilogram was going for 5 pounds, said Patrick Hayton, manager of Midland Fish Co., a processor in Fleetwood, England. He sources at Peterhead, Europe’s largest fishing port, and brings it back to northwest England for local sale.
Monkfish, by comparison, would normally be bound for European tables and command a premium over the Christmas holidays. But it was selling for 2 pounds a kilo, less than half its typical price.