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Hapag-Lloyd seals union with UASC

Hapag-Lloyd seals union with UASC

May. 25 | German carrier Hapag-Lloyd and Kuwait-based rival United Arab Shipping Company (UASC) completed their merger on May 24, the union strengthening Hapag-Lloyd’s position as the fifth largest liner shipping company in the world. “This is an important...

ICS asks IMO to set CO2 reduction goals for shipping sector

ICS asks IMO to set CO2 reduction goals for shipping sector

May. 24 | The International Chamber of Shipping (ICS) will urge the International Maritime Organization (IMO) to “adopt some dramatic CO2 reduction objectives—on behalf of the international shipping sector as a whole—in order to match the ambition of the...

Updated version of WCO Data Model in the works

Updated version of WCO Data Model in the works

May. 24 | The World Customs Organization’s Data Model Projects Team (DMPT) met recently as part of its ongoing work to develop the next version of the WCO Data Model Package. The recent meeting by the team consisting of WCO member administrations, representatives...

AEO share in Vietnam’s 2016 I/E revenue reached $94B

AEO share in Vietnam’s 2016 I/E revenue reached $94B

May. 24 | Vietnam’s authorized economic operators (AEOs) contributed US$94 billion to the country’s aggregate import-export turnover in 2016, representing 26.8% of the overall figure of $350.74 billion for the year, according to the General Department of Customs. The...

Optimism high for APAC freight forwarding market—survey

Optimism high for APAC freight forwarding market—survey

May. 24 | Higher ocean and air freight volumes are expected on key lanes to and from the Asia-Pacific (APAC) three months from now, particularly for the Asia-Europe trade, while the outlook for intra-Asia trade is also rosy, according to a new index for Asia forwarding...

CMA CGM delivers $86M profit, brings APL to black

CMA CGM delivers $86M profit, brings APL to black

May. 22 | French shipping group CMA CGM registered a consolidated net income of US$86 million in the first quarter of 2017, a reversal from the $100 million loss it posted in the same period a year ago. “This result demonstrates the Group’s operational efficiency...

Cathay Pacific retrenches hundreds under restructuring plan

Cathay Pacific retrenches hundreds under restructuring plan

May. 22 | Hong Kong flag carrier Cathay Pacific Airways announced May 22 it will be making around 600 people redundant in its head office. “This is part of a transformation programme to make Cathay Pacific and Cathay Dragon more effective by improving the speed...

Asia-Pacific airlines sustained earnings growth in 2016

Asia-Pacific airlines sustained earnings growth in 2016

May. 22 | Regional airlines of Asia-Pacific posted US$6.9 billion in combined net earnings for the full year 2016, driven by healthy travel demand and an improved cargo market, according to figures released by the Association of Asia Pacific Airlines (AAPA). Solid...

Higher growth for APEC economies in the near term

Higher growth for APEC economies in the near term

May. 21 | New trade and growth data offer positive signs for the Asia-Pacific region, where forecasts for the near term have climbed up slightly from last year, supported by expectations of stronger trade and investment activities. Growth for the 21 APEC economies...

EU court issues ruling on Singapore free trade pact

EU court issues ruling on Singapore free trade pact

May. 18 | In a closely watched decision, the Court of Justice of the European Union (CJEU) said the EU’s free trade agreement (FTA) with Singapore cannot be concluded by the EU alone and needs the approval of its member states in order to be finalized. “The...
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