Container rates drop to unsustainable levels : Maersk CEO
COPENHAGEN : The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk, CEO Mr. Vincent Clerc told the group’s annual meeting
Hapag-Lloyd records third-highest group profit in history despite significant financial declines
HAMBURG : Hapag-Lloyd has reported revenues of US$19.4 billion and profit of US$3.2 billion in 2023, translating to massive year-on-year drops from US$36.4 billion and US$18 billion, respectively. Additionally, the company’s earnings before interest
Mawani records growth in Imported Containers by 16.88% and Cargo Throughput Tonnage by 1.44% in February 2024
RIYADH : The ports supervised by the Saudi Ports Authority ‘Mawani’ have recorded a growth in the statistics of imported containers by 16.88%, reaching 266,672 TEUs, compared to 193,937 TEUs in 2023. They also
Bangladesh opens land port, no infrastructure across the border
DHAKA : The construction of Balla land port infrastructure has been completed in the Kedara court area near the Bangladesh-India border in Chunarughat of Habiganj at a cost of about Tk 490 million. But
Red Sea crisis spurs demand for rail transport through Russia from Asia to Europe
MOSCOW : Logistics companies and rail operators have reported a surge in demand for rail transport through Russia from Asia to Europe, following the disruption to sea lanes caused by the recent Houthi attacks
Cabinet approves IGFA of India and UAE on cooperation for the empowerment and operation of the IMEEC
NEW DELHI : The Union Cabinet chaired by Prime Minister Shri Narendra Modi gave its Ex-post facto approval on Wednesday to the Inter-Governmental Framework Agreement (IGFA) that was signed on 13th February, 2024 during
67th Meeting of Network Planning Group under PM GatiShakti evaluates five infrastructure projects
NEW DELHI : The 67th meeting of Network Planning Group (NPG) was held on 12 March 2024 here, under the Chairpersonship of Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Sh. Rajeev Singh
FFFAI celebrates International Women’s Day initiating on-job training for underprivileged
MUMBAI : The International Women’s Day celebrated on 8th March 2024 at the headquarters of the Federation of Freight Forwarders’ Associations in India (FFFAI) would be another milestone achieved thanks to its Women’s Wing.