Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has handled increased box volumes for 2018 over the previous year, thanks to higher trade activities.
Singapore shipyard group Sembcorp Marine (Sembmarine) is set to cease operation its Tanjong Kling Shipyard at year end, formerly Jurong Shipyard, as it consolidates business at its Tuas Boulevard mega-yard.
Hutchison Port Holdings Trust (HPH) Trust has recorded a marginal dip in total throughput for 2018 over 2017, though volumes for Yantian International Container Terminals (YICT) posted growth on the back of higher US and transhipment cargoes.
Cosco Shipping International has warned of a significant decrease in revenue amid an alleged fraud involving debts owed by its indirect wholly-owned subsidiary to embattled bunker supplier Coastal Oil Singapore.
The Baltic Dry Index (BDI) will continue to stay under pressure as shipowners are not scrapping enough vessels even as demand has grown, pointing to a slow market recovery up until 2020, warned Khalid Hashim, managing director of Precious Shipping.
China’s Yangzijiang Shipbuilding has stayed profitable amid the weak shipbuilding market, as it looks to healthy yard utilisation up to 2020 backed by an orderbook of 114 vessels valued at $4.1bn.
AP Moller-Maersk Group is expecting to take a $200-300m hit for its full year earnings in 2017 due mainly to lost revenue in July as a result of a crippling cyber-attack.
Maersk Line has delivered a first half profit of $273m, erasing the loss of $114m in the year-ago period, due in part to the continued recovery in the container shipping market.