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).

Taiwan-based container ship operator TS Lines plans to expand its core business from mainland to Asia and upgrade its fleet.

Taiwan’s carrier Yang Ming Marine Transport Corp has exercised an option to charter four more 11,000-teu newbuild containerships from Japan’s Shoei Kisen Kaisha for a 10-year period.

APL’s intra-Asian container shipping business is being merged under the CNC brand, but with the management of the Taiwan headquartered-line shifted to Singapore.

Japanese container line joint venture Ocean Network Express (ONE) and Hapag-Lloyd concluded a bi-lateral feeder agreement that will initially cover trades in intra-Asia and intra-Europe.

Reefer container freight rates will go up by as soon as the second half of 2019, ONE ceo Jeremy Nixon said at the 4th Cool Logistics Asia in Hong Kong.

Taiwanese-owned Hong Kong-based intra-Asia feeder line is planning an initial public offering in Hong Kong, local media reported.

The container shipping industry is becoming increasingly competitive and complicated and leading terminal operators such as Hutchison Ports are taking steps through the use of technology to serve their customers better as well as cut down inefficiencies.

The vagaries of the increasingly volatile global trading environment were seen in the first half results of container manufacturer Singamas Container Holdings as it revealed its small loss was due partly to hedging-related forex losses as the renminbi rose sharply earlier in the year.

Ocean Network Express (ONE) is gearing up for the high season, investing in its reefer business segment with a new order of 14,000 state of the art, advanced generation refrigerated containers, comprising 13,000 feu and 1,000 teu. 

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