PIL posts US$277.6 million earnings for FY2023, expects to stay profitable in FY2024
SINGAPORE : Container carrier Pacific International Lines (PIL) posted US$277.6 million in net profit for FY2023 – about 10 per cent of its FY2022 earnings of US$3 billion – as freight rates tumbled. PIL’s
Maersk enhances ME2 Service between India and North Europe
MUMBAI : Maersk announces a significant upgrade to its ME2 Ocean Service. As of third week of April, the ME2 service will include port calls to key destinations in North Europe, namely Rotterdam, Felixstowe,
PIL enhances presence in East Coast South America with two revamped direct services- East Coast Service 1 (ES1) and East Coast Service 2 (ES2)
SINGAPORE : With the aim of improving and enhancing our presence in East Coast South America, Pacific International Lines (PIL) is pleased to introduce two revamped weekly direct services, connecting key ports in China,
India delivers 1st batch of BrahMos supersonic cruise missiles to Philippines
NEW DELHI : India on Friday delivered the first batch of BrahMos supersonic cruise missiles and launchers to the Philippines, two years after the two countries signed a deal worth almost $375 million to
Iran-Israel clash may further disrupt the shipping industry
LONDON : The ongoing conflict between Iran and Israel has the potential to further disrupt the shipping industry, raising global concerns about maritime security and increasing the war-risk premium for ships operating in the
Russia builds new Asia trade routes to weaken sanctions over war
MOSCOW : Russia is pressing ahead with the construction of two new transport corridors linking Asia and Europe, seeking to weaken sanctions over its war in Ukraine at the same time as Middle East
Red Sea disruption pushing up container values and rates
Container values have risen significantly across almost all sectors and age categories since the start of the year. Following an extended period of declines, where values fell steadily for this sector after reaching a
Mawani announces a new shipping service by OOCL to Jubail Commercial Port
RIYADH : The Saudi Ports Authority “Mawani” has announced the addition of a new maritime shipping service by Orient Overseas Container Line (OOCL) to Jubail Commercial Port. This move is set to enhance the