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....
Svitzer signed a memorandum of understanding (MOU) with Guangzhou Port Group to create a towage and marine services joint venture for the world’s 5th largest port.
Port of Guangzhou is the main seaport in Guangdong province, China, with more than 100 vessel calls a day.
If formed, the joint venture will provide towage and related marine services within the Guangzhou port with three tugs ranging from 5200HP to 6800HP.
Svitzer, a global provider of towage and emergency response, has a fleet of more than 400 vessels, covering some 40 countries.
“Combining the strengths of Guangzhou Port and Svitzer is an important first step for further cooperation in China and abroad. Entering the world’s 5th largest port would be essential in Svitzer’s growth journey in Asia,” stated Alan Bradley, regional managing director of Asia.
Writing by Nadeem (c) gCaptain
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