When Hapag-Lloyd unveiled its ‘Strategy 2023’ towards the end of last year, it was based on the premise that the container shipping market’s rush of consolidation is over.
The Southeast Asia region is poised for strong economic growth over the next few decades and container shipping can expect to benefit from increased volume demand, according to SS Teo, managing director of Pacific International Lines (PIL).
Hong Kong-based China Merchants Port Holdings announced that the company will increase capital to its joint venture Djibouti Asset Company for its development of commercial and infrastructure projects at the port of Djibouti.
The removal of trade barriers is key to improving economic development in Africa, according to DP World, which has reaffirmed its commitment to infrastructure investments in Africa.
Bunker supplier Monjasa has opened a new supply location in Djibouti, Northeast Africa to provide a bunkering alternative to the traditional Suez and Jeddah markets.
The Seatrade Maritime Awards, the largest and longest awards body for the maritime sector in the Middle East, Indian subcontinent, and African regions, recently announced the introduction of several new award categories to showcase the outstanding achievements within the maritime and shipping industries and across regions.
The Nigerian authorities are stepping up measures to ensure compliance with the country's cabotage laws.
CMA CGM has launched a second service linking the Middle East, India and southern and western Africa.
For Pacific International Lines (PIL) 2017 is a significant year marking the 50th year in operation of the Singapore-owned and headquartered shipowner. Established on 16 March 1967 with four coastal geared cargoships, today the company ranks as one of the world’s top 20 container lines, and a combination of consolidation in the sector and PIL’s own fleet growth could see it in the top 10 in the next few years.