High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Following the signing of an MOU last month, the A.P. Moller – Maersk Group is formally looking to expand discussions with China Shipping (Group) on the joint ownership of new container terminal projects in Europe.
The discussions are being looked at from an extremely high level as well. Attending the signing ceremony today in Belgium was the President of China, Xi Jinping, hosted by Belgian Prime Minister, Elio Di Rupo.
China Shipping (Group) operates China Shipping Terminal and China Container Shipping Lines and “is seeking to expand its European port network,” according to Maersk.
On March 8, 2013, China Shipping Terminal signed an MOU with APM Terminals Zeebrugge for a 24% stake in the deepwater, high productivity terminal. APM Terminals Zeebrugge remains the majority shareholder and operator of the terminal with a 51% share, Shanghai International Port Group (SIPG) has 25%.
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