Cosco Completes US$3bn Peru Port Deal
Hong Kong-based international port operator Cosco Shipping Ports has completed the equity transaction of project company responsible for its greenfield subsidiary at the Port of Chancay, Peru.With the equitytransaction of the Project Company was officially completed on 10 May 2019, Port of Chancay became the company’s first greenfield subsidiary in South America and COSCO Shipping Ports plans to developing the port to an important gateway port in South America.In January 2019…
Container Terminal Operators Forms Hong Kong Seaport Alliance
Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, and Asia Container Terminals Limited jointly announced the formation of the Hong Kong Seaport Alliance (The Seaport Alliance).The joint operating agreement designed to deliver more efficient service offerings to carriers that call Hong Kong, while enhancing the overall competitiveness of the Port of Hong Kong across the region.The Seaport Alliance will offer a total of…
14,000-TEU ONE Aquila Delivered
Ocean Network Express Pte. Ltd. (ONE) announced it has taken delivery of the 14,00 TEU capacity ONE Aquila at Japan Marine United Corporation’s Kure Shipyard in Hiroshima.
APL Adds New Iraq Port Call
The provider of container shipping and global transportation services APL has announced that the Gulf Asia Express 2 (GA2) service will soon be calling the port of Umm Qasr.The CMA CGM=owned company said that the service will also make a second call to Jebel Ali during the return leg of its service rotation to Asia. These developments demonstrate APL’s commitment to continuously provide market connectivity between the Far East and Middle East.The enhanced GA2 service is primed…
CMA CGM to Reshuffle its CIMEX 6 Service
CMA CGM announced the revamping of dedicated CIMEX 6 service linking Asia and the Middle East Gulf with Umm Qasr call replacing Bandar Abbas as from Shanghai ETA on August 6th, 2018.With CIMEX 6, CMA CGM will offer a direct service from Asia to Umm Qasr, Iraq.The new features will be the following: Rotation: Shanghai-Ningbo-Taipei-Shekou-Tanjung Pelepas-Port Kelang-Jebel Ali-Umm Qasr-Jebel Ali-Port Kelang-Hong Kong-ShanghaiService commencement: August 6th, 2018 (ETA Shanghai) with m/v EVER USEFUL voy.0GN13W1MA.Transit times references: Shanghai to Umm Qasr in 24 days…
APL Extends Eagle GO. Guaranteed to Trans-Atlantic and Oceania Network
APL has announced the extension of Eagle GO. Guaranteed to its Trans-Atlantic and Oceania services networks. Shippers who opt for the premium offering will be guaranteed equipment and vessel space on board six US-bound services from 17 European ports, and seven services destined for Australia and New Zealand from 15 Asian ports. Calvin Leong, Chief Trade Officer of APL, said, “In our continued drive to address our customers’ expanding needs, I am pleased to announce the extension of our warmly received Eagle GO.
APL's Eagle GO Service Extended
APL today announced the extension of Eagle GO. Guaranteed to its Trans-Atlantic and Oceania services networks. Shippers who opt for the premium offering will be guaranteed equipment and vessel space on board six US-bound services from 17 European ports, and seven services destined for Australia and New Zealand from 15 Asian ports. Calvin Leong, Chief Trade Officer of APL, said, “In our continued drive to address our customers’ expanding needs, I am pleased to announce the extension of our warmly received Eagle GO.
Ocean Alliance Launches Day Two Product
The Ocean Alliance has launched its new Day Two Product with an estimated 3.6 million TEU carrying capacity provided by approximately 340 containerships deployed on 41 services. The new offering will commence in April 2018. Alliance partners CMA CGM, COSCO, Evergreen and OOCL will offer 20 Transpacific services, six Asia-Europe services, four Asia-Mediterranean services, four Transatlantic services, five Asia-Middle East services and two Asia-Red Sea services. “Ocean Alliance…
Hong Kong: Impressive Destination, Unfinished Journey
A truly global hub and still arguably the center of Asian trade and logistics, Hong Kong nevertheless faces many challenges. … the Port of Hong Kong saw in 2016 its lowest TEU throughput for more than a decade. Not even a late surge in throughput in December could prevent the less-than-rosy results. By the numbers, Hong Kong saw a monthly 1.8 million TEU, 14 percent increase from the same period just one year ago. But, 2016’s totals (19.6 million TEU) represented an annual drop of 2.5 percent.
Sri Lanka, China Ink Deal to Develop Southern Port
Sri Lanka will take part in a joint venture with China Merchants Port Holdings Company Limited to develop a port in its south, where China has also been offered an investment zone. The cabinet approved a plan under which Sri Lanka will lease 80 percent of the Hambantota port to Hong Kong-based China Merchants Port Holdings Company for 99 years for $1.12 billion, a government document showed on Wednesday. China Merchants Port Holdings Company will make a $5 million payment as a security deposit upon signing the agreement, which the government expects to do on Jan.
Port Of Hong Kong Volumes Down
Hong Kong port recorded a 16% overall throughput drop in February to 1.2m teu from 1.4m teu in previous corresponding period, accelerating from the 9.6% drop seen in the first month of the year. The container turnover at port since the beginning of 2016 decrease by 12.5% yoy and amounted to 2.86 million TEU. The negative container throughput into the port happened on the background of Chinese economy delay and bad economic environment in the region. Throughput at the main Kwai Tsing terminals was especially hard hit during the holiday-shortened and traditionally slow month…
MOL Launches Additional Indian Run
Mitsui O.S.K. Lines (MOL) announced launch of the new China/West Coast India service (CIS). This new service is in addition to MOL’s existing Nhava Sheva Karachi Express (NKX) service which together will enhance coverage between ports in India and China, Singapore, Malaysia and Sri Lanka.
DP World, Emirates Shipping Launch GLX
DP World and Emirates Shipping Line (ESL) today announced the launch of a new shipping service GALEX (GLX), a consortium of four vessel operators – ESL, KMTC, RCL and Hanjin. GALEX consists of seven vessels with a capacity of 6,500 TEUs each and reinforces Cochin Port’s position as a transshipment hub with state-of-the-art facilities available to customers. The announcement coincides with the maiden call of a GALEX service at the International Container Transshipment Terminal (ICTT), Cochin today.
No Signs of Improvement in Container Rent Seen: Cosco Pacific
Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level. The rent level in the first quarter saw a slight decrease as compared to the same period of last quarter, and no signs of improvement have been sen so far. A turnaround of the down trend is hard to be seen in the short term, Feng predicted.
Hong Kong Container Terminal Strike Latest
The High Court in Hong Kong has ruled in favour of extending the temporary injunction, but acknowledges the workers' right to strike. According to the ITF, the injunction against the Union of Hong Kong Dockers (HKDU) aims to halt action at the Kwai Tsing Container Terminal in the Port of Hong Kong, where the Industrial action began on 30, March 2013. The strike is seen as a last resort measure by the union in their attempts to secure transparent, good faith dialogue with their employer Hong Kong International Terminals (HIT)…
ITFShow Support for Striking Hong Kong Dockers
The ITF (International Transport Workers' Federation) spoke out against a temporary injunction that throws out striking dockers from Kwai Tsing Container Terminals, Port of Hong Kong. On January 30, the ITF Hong Kong Dockers Coordinating Committee comprised of Hong Kong Storehouses, Transportation and Logistics Staff Association (HKSTLSA), the Union of Hong Kong Dockers (UHKD) and the Hong Kong Docks and Ports Industry Unions (HKDPIU) called for dialogue with Hong Kong International…
Bunker Supplier Aegean Expands to Hong Kong
Greek-based Aegean Marine Petroleum Network Inchas to offer oil fuel bunker supply service in Hong Kong. New York-listed interntaional bunker supplier Aegean Marine Petroleum Network Inchas announce plans to expand its global network for the physical supply of marine fuel by establishing operations in Hong Kong. Aegean says that it expects to initially deploy one double-hull bunkering tanker to its new service centre in Hong Kong, from Singapore, by 30 September, noting that Hong Kong generates about 5-million tonnes in annual marine fuel sales.
MOL Announces Launch of New Asia-USEC Service
MOL Liner Ltd. (MOL) announced a new service to expedite cargo moving from major Asian ports to key destinations on the U.S. East Coast, via the Suez Canal. From 2 June, the “SVS” (South China/Vietnam – the US South East Coast) service will be jointly operated by MOL and Evergreen. MOL will provide nine ships and Evergreen one ship, with the capacity range of 4,500-5,600 TEU per ship. The introduction of the new service will enable MOL to offer direct connections from Vietnam/South China/Singapore to the U.S.
MOL Announces Launch of New Asia-USEC Service
MOL announced a new service to transport cargo from major Asian ports to key destinations on the U.S. East coast, via the Suez Canal. The service is a direct result of MOL’s ongoing efforts to develop products with competitive transit times and industry-leading on-time performance. From June 2, the “SVS” (South China/Vietnam – the U.S. South East Coast) service will be jointly operated by MOL and Evergreen. MOL will provide nine ships and Evergreen one ship, with the capacity range of 4,500-5,600 TEU per ship.