Warning to shippers that transpacific contract rates may be overheating
Transpacific shippers preparing to begin annual contract negotiations with container shipping lines have been warned that the market for contract rates could be around 15% overpriced. According to new analysis from SeaIntelligence Consulting, the
PIL receives support from significant majority of creditors for debt restructuring plan, positioning it for recovery & sustainable long-term growth
Pacific International Lines (PIL) has announced that it has garnered support from a significant majority of its creditors and noteholders for its debt restructuring plan. In the company’s Scheme Meeting held on February 1,
AAL commits long-term to liner service
AAL Shipping (AAL) is marking the one-year anniversary of its ‘Europe – Middle East / India – Asia Monthly Liner Service’ with a long-term commitment to employing six ‘mega size’ (30,000+ DWT) heavy lift
CMA CGM to operate and manage the Port of Alexandria’s Future Terminal
MARSEILLE: During the trip to Egypt of Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, a world leader in shipping and logistics, the Egyptian authorities have confirmed their intention to
‘Win-win’ for shipowners, with charter market rates and vessel values soaring
Containership owners have seen the value of their assets soar in the past few weeks, and they are said to be “raking in the money”. This week, shipbroker Braemar ACM reported the sale of
OOIL announces plans to issue New Shares on the Market
HONG KONG: Orient Overseas (International) Limited (“OOIL”) is pleased to report that the company has entered into a Placing and Subscription Agreement with Faulkner Global Holdings Limited, our immediate parent company and part of
Last mile connectivity & feeder routes of DFCs should be completed simultaneously: Goyal
Mr Piyush Goyal, Minister for Railways and Commerce & Industry, this week again reviewed the progress of various sections under completion of the Dedicated Freight Corridors (DFC), both the East and West sections. Railway
Hapag-Lloyd significantly improves operating result in 2020
HAMBURG: On the basis of preliminary figures, Hapag-Lloyd’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the 2020 financial year increased to more than USD 3 billion (approximately EUR 2.7 billion). Earnings before