Aug 14, 2018
— HMM recorded a net loss of $215m in the second quarter, taking the South Korean ocean carrier’s deficit to a massive $371m at the half-year stage. Like many of its peers, the carrier was hit hard by the rising cost of fuel and was unable to recover sufficient bunker surcharges to mitigate the impact of a 27% hike in bunker prices.
Aug 13, 2018
— Taiwanese ocean carrier Yang Ming has become the latest container line to report a heavy loss in the second quarter of the year, posting a net deficit of $129m. It means that all three members of THE Alliance vessel-sharing agreement have now posted negative results for the period.
Aug 2, 2018
— FedEx Express is enhancing its services into and out of the Vietnamese capital, Hanoi, with the introduction of a new flight connecting the city to the FedEx APAC Hub in Guangzhou, China. This new route will significantly improve transit times for all inbound flights to Hanoi, and enable next-business-day delivery within Asia for the first time.
Aug 1, 2018
— As of 1 August 2018, Customs Authorities in China will accept electronic documents (eDocs) at the point of Customs declaration, and will not longer require paper documents as a strict prerequisite for clearance.
Jul 25, 2018
— Oversupply of shipping capacity rather than trade wars caused the recent rationalisation in transpacific and Asia-US east coast container services, with US tariffs on Chinese goods largely hitting non-containerised goods, so far.
Jul 20, 2018
— The waters of South China and Southeast Asia have become the accident hotspot for global shipping, with 30 vessels, making up almost a third of the 94 losses worldwide coming from the region in 2017.
Jul 19, 2018
— The Ocean Alliance and THE Alliance have joined the 2M alliance in cancelling strings on the transpacific. According to analyst Alphaliner the cuts equate to 6.7% of capacity deployed on the trade, or 21,300 teu per week.
Jul 10, 2018
— Panama and China will begin negotiations in June 2018 to sign a free-trade deal, the two countries’ trade ministers said on Thursday, consolidating a relationship that has strengthened after the Central American nation ditched ties with Taiwan.
Jul 5, 2018
— The first deepsea container terminal in north Vietnam has opened for business. Capable of handling 14,000 teu vessels, the Haiphong International Container Terminal (HICT) could see the port serving the booming industrial region receiving mainline calls for the first time. Around 130km from Hanoi, the port of Haiphong has seen average annual growth of 14.6% since 2012 – 2017 throughput was 4.45m teu.
Jun 19, 2018
— The South China Sea averages about 150 piracy incidents per year but can see spikes of activity that push it up to 550. Almost 30 percent of worldwide maritime traffic travels through the area. This includes all of the European goods to China, and almost all of the oil from the Persian Gulf to South East Asia.
Jun 18, 2018
— For nearly 18 months, or even longer, there have been steady gains in United States-bound imports from China, with much of it due to the pending, now actual, tariffs, which have been by viewed by many at protectionist measures.