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Monday, November 30, 2020

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  • Far East Maritime (5) (X)

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Blues continue for troubled China Cosco

Posted to Far East Maritime (by Greg Knowler) on November 13, 2013

Don’t leave town, police told an executive director at China Cosco Holdings last week. Okay, they probably never said that, but it doesn’t change the fact that Xu Minjie is under investigation in what is widely believed to be part of Beijing’s crackdown on widespread corruption.

No frills container carrier lining up for launch

Posted to Far East Maritime (by Greg Knowler) on February 11, 2010

Neptune Orient Lines just reported a loss of US$741 million for 2009. China Shipping Container Lines is expected to soon announce a loss of US$1 billion. Other results will begin to trickle in but no carrier handling containers will have done well last year.

Fuel price leads carriers into the green business

Posted to Far East Maritime (by Greg Knowler) on May 30, 2012

Ever since container lines desperate to cut down on high fuel prices embraced slow steaming, shippers have been complaining about it. The days, and sometimes weeks, added to transit times disrupt their supply chains, increase the need for buffer stocks and simply cost them money.

China carrier takes industry losses to new lows

Posted to Far East Maritime (by Greg Knowler) on April 3, 2012

Just when you thought the 2011 shipping industry losses could not possibly get any worse, along comes one of China’s state owned carriers to set the benchmark at a new low. As China’s largest line, that honour naturally fell to Cosco, and the…

China’s GDP figure is more fantasy than fact

Posted to Far East Maritime (by Greg Knowler) on October 29, 2009

In China, officials’ job performance is measured according to the GDP growth of the provinces over which they preside. This growth is earned often through corruption and a complete disregard for health, environmental and safety issues. So it…