HMM remains in the black for Q4 2023
SEOUL : South Korean shipping company HMM remained profitable in Q4 2023 despite the pressure on container markets. HMM reported a net profit of KRW1.01 trillion for 2023 a 90% drop compared to KRW10.12
How long can Maersk investors tolerate below-par performance, wonders Linerlytica
COPENHAGEN : Maersk blamed overcapacity for its record EBIT losses in the fourth quarter but it failed to mask the fact that it has continuously underperformed the market, according to Linerlytica’s latest report. The
FM Logistic India Inaugurates its 3rd Multi-client, Multi-activity Distribution Centre in Bhiwandi, Mumbai
MUMBAI : Leading French contract logistics provider, FM Logistic India, inaugurated its 3rd state-of-the-art Multi Client Facility in India’s largest logistics hub of Bhiwandi on Thursday in the presence of its customers and partners.
BIMCO calls on IMO to solve legal inconsistencies in ship recycling conventions
LONDON : BIMCO, together with Bangladesh, India, Norway, Pakistan and the ICS, has submitted a paper ahead of the 81st Marine Environment Protection Committee (MEPC) meeting on 18-22 March 2024. The paper highlights the need to
Japan loses its spot as world’s third-largest economy as it slips into recession
TOKYO : Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest
AD Ports Group reports $370.28 million in net profit for 2023
ABU DHABI : AD Ports Group has announced its financial results for the fiscal year ending on December 31, 2023. The company reported a net profit of AED1.36 billion (approximately $370.28 million), representing a
XPO Logistics expands longer semi-trailer fleet in UK and Ireland while reducing carbon emissions by an additional 7.0 million kilograms
LONDON : XPO, a leading provider of innovative and sustainable end-to-end logistics solutions across Europe, has introduced 30 additional longer semi-trailer fleet (LST) vehicles in the UK and Ireland while reducing CO2e emissions by almost
India-UAE Logistics partnership boosts following the implementation of CEPA
DUBAI : The partnership between India and the UAE in the logistics sector has received a substantial boost following the implementation of the Comprehensive Economic Partnership Agreement (CEPA) on May 1, 2022. This groundbreaking
Sonowal will inaugurate Kalughat Terminal and 14 community jetties on Ganga River today
SARAN : Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal will inaugurate the Kalughat Inland Water Transport (IWT) Terminal and community jetties on the River Ganga in Bihar’s Saran district on February 15.
PM Modi lays foundation stone of 100,000sqm Bharat Mart in Dubai to boost exports
DUBAI : The foundation stone of Bharat Mart, which will combine retail, warehousing and logistics facilities at Jebel Ali Free Trade Zone in Dubai, was laid during a virtual ceremony by Prime Minister Shri