Port of Antwerp to expand container capacity by European funding
As container flows are increasing at the Port of Antwerp, the European funding program Connecting Europe Facility (CEF) will support the expansion of its capacity. By an award-funding of almost €11 million (US$12.87 million), the European support will be used to create a project (Extra Container Capacity Antwerp).
Besides expansion, the project will focus on optimizing the use of land within the existing port area and sustainable growth, high productivity, and reduction of ship and terminals emissions to the maximum.
ECA represents a crucial step in Port of Antwerp’s vision of being a homeport for a sustainable future. Expanding the port’s container capacity, by using innovative solutions, the Port of Antwerp hopes it will continue to play a significant role in the greening of the container.
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Savills Expands Supply Chains Offerings to APAC Region
Savills, better known for its presence in UK real-estate, has a significant stake in the supply chain industry. Savills has undergone the acquisition of LCA, a Malaysian supply chain consulting group. The plan is in line with the company’s plans to expand its industrial and logistical presence, and to provide a comprehensive supply chain platform.
The acquisition will provide Savills with the ability to access markets in Southeast Asia. “With Covid-19 accelerating digitisation, e-commerce and ride-hailing services across Southeast Asia, the fast-changing environment is forcing businesses to reappraise supply chains and routes-to-market,” says Martin Fidden, Regional Managing Director of Professional Services at Savills.
Chris Marriott, Chief Executive Officer of Savills (Southeast Asia), spoke about how the acquisition will support the company’s APAC expansion. “The acquisition of a strategic interest in this premier supply chain management and logistics advisory underpins Savills commitment to a greater presence in our Indonesian, Malaysian, Philippine, Singaporean, Thai and Vietnamese markets, and positions us well for the growing logistics sector in the region,” said Marriott.
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PPG stock falls more than 5%, facing rising costs and supply-chain disruptions
PPG Industries Inc. stock fell more than 5% after the paint and industrial coatings maker reported quarterly profit below the expectations of Wall Street, and have said that increasing costs and supply chain disruptions continue.
PPG said it increased its prices and continued to trim costs. The supply-chain disruptions are likely to persist through the third quarter, and as a result input and logistics costs likely will be higher in the third quarter as compared to the second quarter.
“We continue to prioritize further selling-price increases, which we expect will fully offset raw-material cost inflation before the end of 2021,” said Chief Executive Michael H. McGarry in a statement. “Overall economic-demand growth remains very broad and robust and, as supply conditions normalize, we expect strong sales growth later this year and into next year.” McGarry said.
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