INTERNATIONAL shipbroker Braemar Seascope has reported that 56 per cent of new containership capacity delivered over the past two years entered the Asia-North Europe and Asia-Mediterranean trades. It said that 2.6 million TEU of newbuilding capacity has been delivered over this period with 1.5 million …
THE world’s biggest container shipping company, Maersk Line, has stopped all cargo bookings from North Europe to Asia because it says it does not, and will not, have the eastbound slots needed until early May. That’s because, Maersk told shippers in its Weekly Highlight newsletter, …
CONTAINER shipping lines have idled five per cent, or 800,000 TEU, and more lay-ups are to come, says Maersk Line new CEO Soren Skou, who expects a million TEU to be laid up, a level not experienced since downturn year of 2009, said Reuters. Mr …
TAIWAN’ s Evergreen Line is preparing to add an additional Far East-North Europe service through container slots purchased on the CKYH Asia-North Europe Loop 6 (NE 6) from the end of March, signalling the start of a broad Evergreen-CKYH alliance on the Asia-Europe. The arrangement, …
THE latest report issued by Shanghai International Shipping Institute said that the world economic recovery is facing challenge brought by Euro-debt crisis. The world’s port throughput growth this year is estimated to slow down to seven per cent. But Asian ports will grow faster than …
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 …
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 …