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In the first quarter of 2011, the Panalpina Group reported strong double digit growth in profitability compared to the first quarter of 2010 with volume increases in air and ocean freight. Gross profit increased by 14 percent year-on-year to US$432.46 million which, together with ongoing cost discipline, led to a jump in EBITDA to $64.93 million (Q1 2010:...
MARSEILLE shipping giant CMA CGM has raised US$945 million through a successful bond sale that took in $145 million more than expected, thus facilitating a further rescheduling of the company's debt for a second time within a year. "The market's warm welcome to our issuance of notes reveals the relevance of our strategy and the strong position we hold ...
NEW World Alliance member APL dropped three of the four PCE service's sailings in April, a transpacific service in which the consortium members Hyundai Merchant Marine, Evergreen and MOL take slots. All four sailings in May on the PCE service have been scrapped, said a report from ComPair Data, adding that schedules show the April 30 sailing did set off...
STILL troubled Horizon Lines has posted a quarterly US$33.3 million loss compounding last year's first quarter $11.7 million loss, further aggravated by the termination Maersk agreements, a slack season contribution from its new China service and a general rate slump. "The historically soft quarter was impacted by the termination of Maersk agreements, a...
Emirates Shipping Line has announced its participation as a vessel provider in the NIS service along with Hyundai Merchant Marine (HMM) and STX Pan Ocean (STX), with its first sailing on May 21 from the Korean port of Incheon, Exim News Service reports. The NIS service provides one of the fastest services from Incheon to Ho Chi Minh City, of 9 days, and t...
Hanjin Shipping will soon take delivery of the fourth in a series of five 10,000 TEU class containership. Hanjin Spain will be deployed on May 7 on Asia-Europe’s NE6 service. Port rotation will be Kwangyang, Busan, Ningbo, Shanghai, Xiamen, Hong Kong, Yantian, Felixstowe, Hamburg, Rotterdam, Singapore, Kwangyang. (Source:http://www.cargonewsasia.com...
INTRA-ASIA specialist Samudera Shipping posted a year-on-year first quarter profit of US$152,000, erasing a $1.4 million quarterly loss from the year before, on the back of a 23.8 per cent revenue increase. But the company warned the Singapore stock exchange that it faced soaring bunker coasts and "nagging supply issues" that would impact on its full-year...
HONG KONG's Orient Overseas Container Line (OOCL) has held a naming ceremony for the OOCL Beijing at Hudong-Zhonghua yard in Shanghai, welcoming the biggest vessel in the company fleet and the first of the eight 8,888-TEU ships on order from the shipbuilder. "In 2010 the container throughput of Shanghai was 29.07 million TEU occupying the top position am...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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