Terminal operator PSA Singapore and Ocean Network Express (ONE) inaugurated their joint venture terminal dubbed the Magenta Singapore Terminal in the Lion City earlier this week.
Hit by losses from cancelled containership and bulk carrier charter contracts K Line reported a massive JPY111.1bn ($1bn) loss for FY18, end 31 March 2019.
The Haiphong International Container Terminal (HICT) has welcomed the maiden call of mother vessel 8,814 teu-Northern Jaguar deployed by Ocean Network Express (ONE) on its PN2 service providing a direct link between Northern Vietnam and the Pacific Northwest.
Four major lines – AP Moller-Maersk, Hapag-Lloyd, MSC and ONE – have jointly established Digital Container Shipping Association (DCSA) to drive standardisation, digitalisation and interoperability in the industry.
An escalating number of typhoons and adverse weather events is playing havoc with carrier schedules, leaving a “major challenge” for the industry to recover from the record-low levels in schedule reliability experienced in 2018.
K Line is taking a JPY50bn ($448m) hit on the cancellation of charter contracts for bulkers and containerships.