MAERSK Line has exercised its option with South Korea’s Daewoo Shipbuilding & Marine Engineering to build 10 more 18,000-TEU Triple-E ships, after ordering 10 ships of this type in February with two options, each for an additional 10 ships for US$190 million a piece. “I …
JOHOR BARU: Shandong-based Sozo Global Ltd intends to set up a halal processing facility in Malaysia within the next six to 12 months from now. Chief executive officer Shen Hengbao said the company had completed its feasibility study on the project and was currently identifying …
HAMBURG’s Hapag-Lloyd has won a US$925 million loan with a banking syndicate made up of HSBC, Citibank, Deutsche Bank, KfW IPEX-Bank and UniCredit Bank. to finance the building of ten 13,200-TEU ships from Hyundai Heavy Industries. The ships will be the largest in Hapag-Lloyd’s fleet, …
FRENCH box carrier CMA CGM is in talks to dispose of its 49 per cent stake in Malta Freeport Terminals three years from renewing a 65-year lease with the Maltese government. The indebted Marseilles-based shipping giant needs money for debt servicing and hopes to sell …
US RETAIL import growth is expected to slow in May for the first time since 2009 and stay that way till August when the annual peak seasons shifts into high gear, according to the monthly Global Port Tracker issued by the National Retail Federation (NRF) …
CHILE’s Compania Sud Americana de Vapores (CSAV) cargo volume increased 48 per cent in the first four months of the year to 1.16 million TEU, and in April the company shipped 284,000 TEU, a 37 per cent year on year increase. CSAV chartered more containerships …
FEDEX Express has been named the “Best All Cargo Airline” and the “Best Air Cargo Carrier-North America” at the 25th Asian Freight & Supply Chain Awards (AFSCA) held in Singapore. The awards honour leadership as well as consistency in service quality, innovation, customer relationship management …
TAIWAN’s Evergreen Marine Corp has achieved a first quarter net profit of NT$1.31 billion (US$46 million), compared with a net loss of NT$87 million for the same quarter a year earlier. This comes as the shipping line handled greater volumes of cargo driven by growing …
Nikkei reported that the March 11th 2011 earthquake and tsunami pushed down domestic production by 60.1% on the year at the nation’s eight passenger automobile manufacturers in April 2011, the sharpest drop ever. Forced to suspend operations at some plants or slash output, these firms …