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DP World delivers profit of over $1B for first time

DP World delivers profit of over $1B for first time

Mar. 27 | Global port operator DP World’s performance soared in 2016 as profit topped US$1 billion and adjusted EBITDA margin for the full year reached a new high. In a statement, the Dubai-based company said its profit rose in 2016 to $1.127 billion, up 27.6%...

WCO launches counter-terrorism project for SEA, Pacific Islands

WCO launches counter-terrorism project for SEA, Pacific Islands

Mar. 27 | The World Customs Organization has launched the WCO Security Project aimed at supporting administrations in Southeast Asia and the Pacific Islands to respond to security challenges posed by the threat of terrorist attacks. The new security project follows...

Hapag-Lloyd banks on alliance and UASC merger to boost 2017 earnings

Hapag-Lloyd banks on alliance and UASC merger to boost 2017 earnings

Mar. 27 | After recording a net income of EUR113.9 million in 2015, German box line Hapag-Lloyd suffered a loss of EUR93.1 million (US$100.9 million) in 2016 on account of a deep decline in freight rates. Hapag-Lloyd in a statement said it closed the 2016 financial...

Vietnam orders foreign box lines to publicize fees

Vietnam orders foreign box lines to publicize fees

Mar. 24 | Global container carriers calling Vietnam will have to publicize freight charges and surcharges as well as port service charges from July 1, 2017. This is in line with the Vietnamese government’s Decree No. 146/2016/ND-CP, issued November 2 last year,...

ASEAN, NZ set to review, strengthen free trade pact

ASEAN, NZ set to review, strengthen free trade pact

Mar. 24 | The Association of Southeast Asian Nations and New Zealand reaffirmed the importance of strengthening their strategic partnership as they prepare to revisit the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) in June 2017. Senior officials...

Accreditation of VASPs subject of draft BOC order

Accreditation of VASPs subject of draft BOC order

Mar. 22 | As mandated under the Customs Modernization and Tariff Act (CMTA), a new order on the accreditation and regulation of information processors—also known as value-added service providers (VASPs)—has been released by the Department of Finance (DOF) and...

Singapore NODX extend winning run for fourth month

Singapore NODX extend winning run for fourth month

Mar. 22 | Singapore’s non-oil domestic exports (NODX) rose by 21.5% year-on-year in February 2017, extending the growth in the preceding three months as both electronic and non-electronic exports increased, according to International Enterprise Singapore (IE...

Zhengzhou Airport customs shaves inspection time for mails

Zhengzhou Airport customs shaves inspection time for mails

Mar. 22 | A new mode of inspecting outbound mails has been introduced at Zhengzhou Xinzheng International Airport, successfully cutting down significantly inspection time at the principal airport of Zhengzhou, the capital of Henan Province, China. According to...

Global sulfur cap among Asian shipowners’ biggest worries

Global sulfur cap among Asian shipowners’ biggest worries

Mar. 22 | Fair competition, anti-trust immunity, and the global sulfur cap are some of the most pressing concerns of Asian shipowners for this year, according to the Association of Shipowners’ Association (ASA). At the meeting of the ASA Shipping Economics Review...

Hyundai Merchant officially joins 2M

Hyundai Merchant officially joins 2M

Mar. 21 | South Korean shipping line Hyundai Merchant Marine (HMM) said it has signed a deal for a strategic cooperation with 2M Alliance, paving the way for the company to better compete with rivals. HMM recently signed the agreement called “2M+H Strategic...
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