THE container shipping industry is consistently destroying shareholder value and needs to rein back fleet growth to improve returns, says Maersk Line’s new CEO Soren Skou. Mr Skou, who took over in mid-January, made the comments in London shortly after parent company, AP Moller-Maersk, announced …
THAILAND’s Regional Container Lines (RCL) posted net loss of THB780 million (US$25.8 million) for 2011 following a THB465 million profit in 2010. The Thai-listed company attributed poor performance in 2011 to over-capacity and rising fuel costs in a “weak shipping environment and stiff competition”, particularly …
GENEVA-based Mediterranean Shipping Co (MSC), the world’s second largest carrier, has announced it will increase the freight rates on the eastbound Asia Europe by US$400 per TEU with effect from April 1. The general rate increase (GRI) will be implemented on cargo from Japan, Korea, …
SINGAPORE-listed container carrier Samudera Shipping Line (SSL) has announced its 2011 full-year results, seeing a profit growth of 33.8 per cent to US$12.6 million from $9.4 million a year ago. The carrier said in a statement that the growth was mainly contributed by successful expansion …
KUALA LUMPUR: Top palm oil producer Indonesia’s growing refining advantage over No. 2 supplier Malaysia will dominate an annual gathering of the world’s palm oil business in Kuala Lumpur next week as traders examine shifts in demand. Planters, refiners and bankers gather for the Bursa …
NEW DELHI: With surge in import of refined palm oil, edible oil processors have urged finance minister Pranab Mukherjee to hike import duty on the commodity to 16.5 per cent from the existing 7.5 per cent to save the domestic industry from closing down. India …
The bulls are expected to take firm charge of the oil and gas sector for some time to come, and it’s no wonder, what with the high and sustained crude oil prices and the unrelenting global demand for energy, especially that emanating from emerging markets. …
A two-day international ports forum, with the participation of more than 25 countries representing over 200 ports and 140 port related organizations, begins on Thursday, March 8 in Colombo at the BMICH. The International Association of Ports and Harbors (IAPH) founded in November 1955 under …
Karachi—Out of total edible oil consumption Pakistan importing Malaysian palm oil worth $2 billion a year which needs to be reciprocated through import of Pakistan rice and other commodities to balance the trade between the two countries. This was pointed out by Pakistan delegation currently …
