Philippine shipping line Chelsea Logistics Corp. (CLC) has signed a $220-million bridge loan agreement with Bank of China, intending to use the borrowed money…
Chelsea Logistics secures $220M China loan for 32% stake in 2GO
The Latest
Higher growth for APEC economies in the near term
New trade and growth data offer positive signs for the Asia-Pacific region, where forecasts for the near term have climbed up slightly from last…
PH economy posts slower-than-expected Q1 growth of 6.4%
The Philippine economy grew 6.4% in the first quarter of 2017 and remains one of the strongest performers among major emerging economies in Asia.…
PPA earmarks P950M to improve 10 ports
The Philippine Ports Authority (PPA) will be spending almost a billion pesos to develop and dredge 10 ports in different areas of the country.…
2GO carves 8% income hike on 82% jump in e-commerce sales
Integrated transport services provider 2GO Group, Inc. posted an 8% increase in first quarter 2017 net income to P267.6 million from P290.9 million year-on-year…
Lorenzo Shipping registers first-quarter loss amid volume expansion
Philippine carrier Lorenzo Shipping Corporation (LSC) has reported a net loss of P64.38 million in the first quarter of 2017, slightly lower than the…
EU court issues ruling on Singapore free trade pact
In a closely watched decision, the Court of Justice of the European Union (CJEU) said the EU’s free trade agreement (FTA) with Singapore cannot…
‘K’ Line consolidates 2 subsidiaries, outlines recovery plan
Kawasaki Kisen Kaisha Ltd. (“K” Line) announced it will merge two of its subsidiaries as it seeks a return to profitability and strives to…
The Evolving Role of Customs
Traditional Role of Customs Historically, customs administrations all over the world have served as state “gatekeepers”, taking jurisdiction on anything and everything that move…
A Fortunate Alignment
For some, the Prosperity for All Summit—the ASEAN Business Advisory Council conference held last April 28—may seem similar to a supply chain conference. The…
Customer Visibility Enabled by Logistics Technology
New technologies are changing the way freight and logistics companies operate. Sensors, Internet of Thing, and cloud-based enterprise resource planning systems have permeated every…
BOC on alert as ransomware infects IT systems worldwide
The Bureau of Customs (BOC) assured stakeholders it is taking the necessary precautions to avoid being hit by the recently released global “ransomware” virus…
HK airlines carry higher cargo volumes in April
Sister air carriers Cathay Pacific and Cathay Dragon showed an increase in both the number of passengers carried and the volume of cargo and…
Panalpina expands warehousing footprint in Singapore
Supply chain company Panalpina is constructing a new warehousing facility in Singapore, its largest such investment outside of Europe, as the logistics firm moves…
PAL Q1 income plunges to P904.7M
Philippine Airlines (PAL) reported a total comprehensive income of P904.7 million for the first quarter of 2017, a significant downturn from P2.707 billion registered…
Q1 cargo volume at PH ports up but at a slower pace
Cargo volume handled by Philippine ports sustained its growth in the first quarter of 2017 but at a slower pace due to a significant…
PPA approves 11% hike in cargo handling rates at Batangas port
The Philippine Ports Authority (PPA) has approved an 11% increase in cargo-handling rates at Batangas Port Phase 1, to take effect on May 28.…
ICTSI registers 27.8% income in first quarter
Port operator International Container Terminal Services, Inc. (ICTSI) reported a net income of US$57.584 million in the first quarter of 2017, 27.8% higher than…
ATI Q1 income up 28.4% on higher Manila, Batangas volumes
Strong trade volumes handled at Manila South Harbor and Batangas Port have lifted Asian Terminals Inc.’s (ATI) first-quarter results, reflecting growing imports and exports…
Draft order draws up rules for PH customs service fee collection
The Philippine Department of Finance (DOF) and Bureau of Customs (BOC) have proposed rules covering the process of collecting customs service fees from stakeholders.…
