By EILEEN HEE KUALA LUMPUR: Asean-6 will be a totally free trade area by Jan 1, 2010 when duties on most of the countries’ products are eliminated. International Trade and Industry Ministry senior director of Asean economic cooperation division P. Ravindran said Malaysia had committed …
By MYNARDO MACARAIG SUBIC BAY, May 15 (AFP) – Deep water ports around the Philippines are fast resembling parking lots as shipping companies caught by the slump in global trade look for places to park their unused vessels. At the former US naval base at …
Exports of Malaysian palm oil products for April 1-20 rose 4.2 per cent to 754,129 tonnes from 723,770 tonnes shipped between March 1 and 20, cargo surveyor Intertek Testing Services said today. Meanwhile, another cargo surveyor Societe Generale de Surveillance reported that exports rose 0.8 …
NORTHEAST China’s Shandong province plans to invest CNY53 billion (US$7.76 billion) to boost its shipping industry development and shape itself as an international shipping centre in northeast Asia by 2010, reports Xinhua. According to the plan, the province will set up five shipping trading centres …
THE Port of Shanghai lifted 582 million tonnes of cargo during 2008, up 3.6 per cent year on year, continued to retain its title as the world’s largest port in terms of overall tonnage, Logistics Week reported. The port handled 28 million TEU last year, …
CHINA Shipping Container Lines (CSCL) has revealed to the Hong Kong stock exchange that its 2008 profit fell 99 per cent because of plummeting freight rates in the global economic downturn. Profit fell to CNY42.97 million (US$6.3 million) year on year from the CNY3.23 billion …
AUSTRALIA’s Qantas Group has announced that it is laying off management staff as part of a fundamental review of the company’s organisational structure to ensure it is better equipped to respond to commercial challenges, including the impact of the global economic downturn. A company statement …
AP MOLLER-MAERSK Group and Shanghai’s Baoshan Iron & Steel Co Ltd (Baosteel) have signed a three-year master procurement agreement for the provision of a wide variety of steel products, including steel for the production of containers, shipbuilding, oil and gas needs. With the establishment of …
UNITED Arab Emirates cargo handler DP World says it sees little sign in the foreseeable future of an easing of the industry slowdown that has left some of its terminals struggling with a double-digit declines. “Volumes are just disappearing,” said DP World CEO Mohammed Sharaf. …