Chelsea Logistics eyes IPO

Philippine passenger and cargo carrier Chelsea Logistics Corporation plans to raise up to P8 billion through an initial public offering (IPO) in July to…

Trump ‘biggest risk’ to trade: port magnate

US President Donald Trump, Jr. is today’s biggest risk to global trade, according to port and casino tycoon Enrique Razon, Jr. “Trump is the…

World seaborne trade sustaining robust volume growth

Seaborne trade in 2016 jumped to more significant volumes after the slight growth recorded in 2015, as the shipping industry remains “a strong and…

Harbor Star 2016 profit jumps 49% on strong earnings from most services

Marine services provider Harbor Star Shipping Services, Inc. (HSSI) reported a 49% surge in net income for 2016 as a result of stronger operating…

Freight rates dip on East-West trade lanes

The World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to and from the U.S., Europe, and…

Survey: shippers not happy with service of box carriers

Clients of container shipping lines have expressed dissatisfaction with the service these carriers provide, saying that service quality has deteriorated in the past year,…

Evergreen starts direct Subic-Taiwan-Korea service

Taiwanese carrier Evergreen Marine Corporation is launching a new weekly direct service next week that will connect Subic port with Taiwan and South Korea,…

PH ports security tightened in time for summer break

The Philippine Ports Authority (PPA) has tightened security at all its ports as it expects a busy summer this year. PPA directed over the…

European exporters assail ‘unexplained’ capacity crunch

The European Shippers’ Council (ESC) has expressed concern about the capacity crunch in liner shipping and the way ship owners are handling it. In…

Harbor Star 2016 profit jumps 49% on strong earnings from most services

Marine services provider Harbor Star Shipping Services, Inc. (HSSI) reported a 49% surge in net income for 2016 as a result of stronger operating…

PPA consults stakeholders on 25-year port roadmap

The Philippine Ports Authority (PPA) recently conducted a national ports summit to get recommendations from stakeholders and port managers for the first 25-year roadmap…

Maersk Line looking at digital booking to cut costs

The Maersk group is eyeing increased digitalization that will see booking with the giant liner company taking place in mere seconds, saving time and…

APL offers new insurance options against cargo-in-transit risks

Global box line APL is extending cargo assurance to shippers who want protection against risks of loss or damage to their cargo in transit.…

Shipping expert sees two scenarios in lifting of PH cabotage

Considering the cost of operating ships in the Philippines, a shipping executive sees only two options if the government is to revoke the cabotage…

Marina revenue overshoots 2016 target by 43%

The Philippines’ Maritime Industry Authority (Marina) has generated P1.14 billion in revenue in 2016, higher by 15.8% than the P983.728 million achieved in 2015…

Lower House reps conclude 10-day port and ro-ro tour

Some members of the Philippine Lower House conducted a 10-day port tour and inspection of the country’s Western and Eastern Nautical Highways that are…

APL expands intra-Asia network with new SEA loops

Container shipping line APL is launching next month two new intra-Asia lanes, one of which connects China to Southeast Asia while the other connects…

Hapag-Lloyd banks on alliance and UASC merger to boost 2017 earnings

After recording a net income of EUR113.9 million in 2015, German box line Hapag-Lloyd suffered a loss of EUR93.1 million (US$100.9 million) in 2016…

Vietnam orders foreign box lines to publicize fees

Global container carriers calling Vietnam will have to publicize freight charges and surcharges as well as port service charges from July 1, 2017. This…

PH carriers, Marina fight exemption of transport from Public Service Act

The Maritime Industry Authority (Marina) and shipping operators in the Philippines are opposing bills that propose to exempt transportation services from being a public…