Container throughput at Westports Malaysia is forecast to rise to 7 million 20-foot equivalent units (TEUs) in 2012 despite global economic uncertainties, according to…
Westports Malaysia eyes annual throughput of 7-M TEUs
The Latest
Asean leaders endorse comprehensive regional investment pact
Leaders of the Association of Southeast Asian Nations lauded the entry into force of the Asean Comprehensive Investment Agreement (ACIA). The officials voiced their…
APEC sets down 2012 trade and investment priorities
The Asia-Pacific Economic Cooperation (APEC) Committee on Trade and Investment met for the second time this year to identify initiatives that support intra-Asia-Pacific trade.…
PAL welcomes new investor
The management of Philippine Airlines (PAL) today (04 April 2012) said it was officially informed of the entry of a new investor in the…
PH Customs updates list of prohibited, regulated exports
The Philippine Bureau of Customs (BOC) recently issued a memorandum circular updating the list of prohibited and regulated export products. Under Customs Memorandum Circular…
Kuwaiti company’s Clark project has $3B price tag
A Kuwaiti company is sinking in $3 billion over a period of seven years in a 177-hectare project in Clark freeport, two hours from…
Globalport 900 to raise $200M for PH port projects
PUBLICLY listed Philippine company Globalport 900 Inc is eyeing to raise $200-million through a secondary public offering this year to fund the acquisition of…
PH Jan imports down 3.2%
Philippine imports dipped 3.2% to $5.134 billion in January from $5.302 billion year-on-year, according to the National Statistics Office. But compared to December 2011’s…
Report says emerging SE Asia markets key to industry recovery
After a five-year decline, the sea freight industry in China will once again experience growth, buoyed by growing trade with Southeast Asian nations, forecasts…
Carrier profit uncertain despite successful rate hikes—Drewry
Ocean carriers have successfully implemented a series of general rate increases (GRIs) recently, but a number of threats could still derail their return to…
Airfreight demand rises in February, but outlook still fragile
Global air cargo volume in February 2012 rose 5.2 percent year-on-year, according to the latest traffic results from the International Air Transport Association (IATA).…
ZIM closes 2011 with $397-M net loss
Zim Integrated Shipping Services ended 2011 in the red, reporting a net loss of US$397 million from a net profit of $54 million in…
Singapore port operator’s net profit dips
Singapore’s PSA International reported a net profit of S$1.14 billion (US$909 million) for 2011, a decrease of 3.7 percent year-on-year, even as both volume…
Maersk plans GRIs on Asia-US cargo
Maersk Line, the world’s biggest shipping container line, announced it will implement general rate increases (GRIs) on its Far East-United States service effective May…
Multipurpose shipping market share getting bigger, says Drewry
Last year (2011) saw the multipurpose (MPV) fleet recover some of the optimism seen prior to 2007. Rates have started to firm again and…
13 freight forwarders slapped with $225-M fine for price-fixing
The European Commission fined 13 major logistics companies a total of EUR169 million (US$225 million) for participating in four distinct cartels from 2002 to…
Hapag-Lloyd to impose freight rate hike on Far East-Europe corridor in May
Germany’s Hapag-Lloyd announced a rate increase of US$400 per 20-foot equivalent unit (TEU) on the Far East westbound trade effective May 1. The Hamburg-based…
Vietnam shipping sector facing bleak future?
Vietnamese shipping lines have been losing out to international rivals in recent years, and the industry will remain in distress this year and the…
Changi Airport unveils $12-M cargo incentive package
Singapore’s Changi Airport Group (CAG) has laid down a nearly US$12-million (SGD15 million) cargo incentive package to lift airfreight traffic. The package, part of…
PH truckers seek stop to apprehension of trailers with white plates
The Confederation of Truckers Association of the Philippines (CTAP) is seeking indefinite moratorium on the apprehension of trailers or chassis sporting white plates. Such…
