Yang Ming Marine Transportation Corp has announced a reorganisation of its Asian service network in view of the “rising global trade tensions”.
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’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.
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.
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.