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Demand for cargo on major trade lanes has increased substantially and the returns to the shipping lines and vessel owners have also increased with billions of dollars-worth of profits reported for the first quarter of this year by the lines and as the demand and profits have risen so have time charter rates and vessel […]
07
May
May
Evergreen Marine Corporation achieved a TW$16.17 billion (US$567.13 million) net profit for Q1 2021, reversing the TW$733.15 million (US$24.24 million) net loss in Q1 2020. Revenue was up 35% to TW$64.69 billion (US$2.27 billion), according to preliminary unaudited figures disclosed on 6 May. Despite concerns that the grounding and subsequent detention of the Evergreen-operated Ever […]
07
May
May
A Covid-19 cluster has emerged in Singapore’s container port, after a trailer driver tested positive, leading to fears that the virus could have spread through the port. Singapore’s Health Ministry announced on 6 May that it is testing port workers, after a trailer driver, who worked at Brani and Pasir Panjang Terminals, tested positive for […]
05
May
May
China’s Wenzhou continues to build overseas container shipping links, with SITC Container Lines launching a service connecting the port to the Philippines. On 1 May, the 2,700TEU SITC Port Klang departed Wenzhou with containers bound for Subic, Manila North, Cebu and Makassar in the Philippines. This is Wenzhou’s seventh overseas route so far and is […]
05
May
May
Asian container ports have marked the highest efficiency scores in the world, dominating the top-50 positions of the global efficiency ranking according to the new global Container Port Performance Index (CPPI) launched by the World Bank and data company IHS Markit. The report scored ports against different metrics, making the efficiency ranking comparable around the […]
05
May
May
Increased freight rates caused by strong demand coupled with significant operational challenges such as bottlenecks, lack of capacity and equipment shortages in global supply chains led Maersk to earnings and growth across all its businesses in ocean, port services and logistics during the first quarter of the year. Earnings Before Interest, Taxes, Depreciation, and Amortisation […]
01
May
May
Wan Hai Lines is raising rates on its Taiwan-Vietnam services as the Taiwanese intra-Asia carrier enhances its coverage of Vietnam with two new services starting 2 May. Citing rising demand amid a capacity and container crunch, the increase will be US$50/TEU, effective from 7 May. Freight for 40ft containers is expected to be around US$1,000 […]
01
May
May
Amid the US-China trade war, Vietnam has benefited the most. As manufacturers shift some production from China to Vietnam, intra-Asia liner operators have been adding more calls to the Southeast Asian country. US-China trade tensions have altered the flow of goods in Asia. According to China’s General Administration of Customs, the value of Chinese exports […]
01
May
May
As the fall out from last years’ pandemic subsides and the disruption to supply chains caused by the blockage of the Suez Canal is ironed out the next major event is expected to be the standard peak season which is due to start in August and the LA Port complex must start planning now, warns […]
01
May
May
Hapag-Lloyd and CMA CGM have announced new rates from Europe to different destinations worldwide, effective from next month. Hapag-Lloyd will apply increased ocean tariff rates from North and South Europe to the Middle East and Indian Subcontinent for freight of all kinds (FAK) cargo in 20’ and 40’, including high cube, dry, reefer and special […]
