PORT Klang handled 7.97 million TEU through its Westports and Northport container terminals in 2008. This accounts for a 12 per cent increase from the 7.11 million TEU throughput in 2007, Port Klang Authority general manager Lim Thean Shiang was cited as saying in a …
THE collapse of a major container shipping line would “cause a chain reaction of defaults in the industry,” according to New York-based Gerson Lehrman Group analysts. Particularly, at a time when cargo demand on the main trade lanes are at historically low levels, record numbers …
SOUTH KOREA’s Hanjin Shipping is raising freight rates on the Asia-Europe and Transatlantic trades with effect from April 1, 2009. The carrier said in a statement that this decision was made and announced to its regional offices and customers last month. Regarding the rate increase, …
COST cutting measures and rate increases will help to offset the negative impacts of the financial crisis, but further opportunities to stave off extensive losses exist for well managed companies in the midst of the current turmoil, says UASC’s Asia vice president, Mr Lars Christiansen. …
THE Federal Government should look into giving more financial support to the maritime industry in the forthcoming mini budget as the industry maintains a large workforce, said Yayasan Sabah Shipping Sdn Bhd chairman Datuk Abdul Rahman Dahlan. The mini budget should not just focus on …
CHINA’s production of crude steel this year is expected to exceed 2008′s output, which according to Wu Xichun, Honorary Chairman of China Iron and Steel Association, will exacerbate oversupply and ruin profitability. “Demand has not yet recovered and there has been no apparent effect from …
THE number of containerships sitting idle worldwide is said to have soared to an historic high of 453 ships, that is 1.35 million TEU or 10.7 per cent of the world’s box tonnage, AXS-Alphaliner News reports. The result is up from 392 or 1.1 million …
IT may surprise some, but more shippers believe it is essential to collaborate more closely with carriers to improve their business. “What I have found is that there is a huge disconnect between the shippers and the world of the carriers,” one senior level manager …
FALLING stock prices for container shipping are predicted for the coming year as freight rates fall and with no rebound in sight, especially if idle ships return to service, say Morgan Stanley analysts. The bank’s analyst report advised investors to sell Taiwan’s Yang Ming and …
