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MISC Berhad will upgrade its Halal Express Service linking the Far East, Southeast Asia, the Indian Subcontinent and the Middle East, effective later this month. The Malaysia-based carrier will expand the weekly service with a second loop to provide direct connections to and from Japan. The Loop 2 (HE2) rotation will be Yokohama, Nagoya, Shanghai, Xiame...
CMA CGM and MAERSK Line are combining their respective Brazilian Express Service (Brazex) and North Coast Express (NCX) connecting the East Coast of South America to Central America and Caribbean, effective in the second half of September. The joint project increases coverage in the Caribbean by extending the rotation as far north as Manzanillo, Panama, a...
Cosco Pacific, Asia's third-largest container-terminal operator, agreed to sell a 2bn yuan ($293m) stake in a logistics venture after first-half profit dropped amid slumping world trade, writes Bloomberg. The company expects to report a $102.5m pretax gain from selling its entire 49% stake in Cosco Logistics it said in a Hong Kong stock exchange statemen...
A JUNE-JULY survey by London law firm Norton Rose of 961 transport executives showed they felt the downturn would be prolonged, and venture capital and export credit agencies would play a larger role in ship finance as banks withdrew. "Sixty-three per cent of shipping respondents anticipate widespread bank enforcement of troubled shipping loans. Sixty six...
HONG KONG's OOCL suffered the least of eight listed carriers with a loss of $116 per TEU in the first half of 2009 while the other seven lost an average of $264 per TEU, according to Dutch marine newsletter Dynaliners. Published by the by Dutch maritime consultant Dynamar, the report said troubled Zim and Hapag-Lloyd lost the most per TEU at $360 and $27...
Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) say they fully intend to follow the formula adopted in late 2008 for calculating bunker fuel charges, when those charges adjust on October 1, 2009. On October 1, WTSA lines have scheduled increases of US$132 per 40-foot container (FEU) via the West Coast, and $258 per FE...
THE Mediterranean Shipping Company (MSC) is to start calling weekly at Philadelphia's Packer Avenue terminal on its north Europe route from October 5. The service will deploy five 3,055-TEU ships and the new port rotation of Bremerhaven, Felixstowe, Antwerp, Le Havre, Boston, New York, Philadelphia, Baltimore, Norfolk, New York and back Bremerhaven. Sa...
AUDITORS from PriceWaterhouseCoopers say troubled Hapag Lloyd is qualified for loan guarantees from the German government, according to Reuters. Major share holder, the German travel giant TUI, the previous Hapag owner, as well as its new owner, the Albert Ballin consortium, have sought government approval for US$1.8 billion in loan guarantees to save ail...
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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