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Archive for June, 2011

Capacity oversupply hounds Philippine cargo industry

Capacity oversupply hounds Philippine cargo industry

Jun. 27 | OVERSUPPLY of bottoms remains a threat to the Philippine cargo industry, creating stiff competition in a very thin market, according to Magsaysay Transport and Logistics president Roberto Umali. Magsaysay Transport operates cargo carriers NMC Container...

Maersk eyes penalties for no-show cargo

Maersk eyes penalties for no-show cargo

Jun. 24 | Maersk Line will start charging customers who renege on their booked container deliveries. The carrier will in turn pay clients for delivered containers it overlooks to put aboard its vessels. The Danish carrier said it will charge booked dry containers...

Japan’s May exports reel from disasters, fall 10.3 percent

Japan’s May exports reel from disasters, fall 10.3 percent

Jun. 24 | Exports from Japan shrank 10.3 percent in May from the same month last year. The finance ministry reported on June 20 that exports dropped to 4.76 trillion yen ($6 billion) from 5.30 trillion yen month-on-month. Imports in May this year rose 12.3 percent...

CKYH abandons Asia-Europe lane as spot rates drop

CKYH abandons Asia-Europe lane as spot rates drop

Jun. 24 | A container shipping alliance plans to stop its Asia-Europe trade lane service as spot rates fall steadily. The CKYH Alliance, consisting of Cosco, K Line, Yang Ming and Hanjin Shipping, said it will cease its joint NE5 service after all-in spot rates...

Global supply chains must brace for increased attacks – report

Global supply chains must brace for increased attacks – report

Jun. 22 | Cyber, hacker, pirate and terrorist attacks against global supply chains will rise over the next 20 years, and firms should plan now to protect their assets, says a report released June 21, 2011. Eighty executives see a 56 percent probability of increased...

OOCL raises rates on north and east Asia-Australia services

OOCL raises rates on north and east Asia-Australia services

Jun. 22 | OOCL plans to increase its freight rates from north and east Asia (China, Hong Kong, Taiwan and Korea) to Australia starting July 15, 2011. The new rate will be higher by $250 per 20-foot equivalent unit. OOCL said in an announcement published June 21,...

PEZA, freeport zones eye own version of automated export system

PEZA, freeport zones eye own version of automated export system

Jun. 22 | THE Philippine Economic Zone Authority (PEZA) and the freeports of Clark and Subic will test their own automated export declaration system this week in lieu of the system designed by the Bureau of Customs (BOC). A PortCalls source said the zones noted...

Indonesia to construct vital port in Sorong

Indonesia to construct vital port in Sorong

Jun. 22 | Indonesia’s state port operator PT Pelindo II plans to build a $13-billion modern container port in Sorong, Papua province, to function as a domestic hub port to reduce national logistics costs by up to 60 percent. The current steep cost of internal...

High fuel cost dampens Lorenzo Shipping prospects

High fuel cost dampens Lorenzo Shipping prospects

Jun. 22 | THE high cost of fuel will keep growth flat this year at Philippine cargo carrier Lorenzo Shipping Corp (LSC). “It is really hard to forecast better figures for this year,” LSC president Roberto Umali said at the sidelines of the company’s annual...

Philippine importers find GPS cargo seal too expensive

Philippine importers find GPS cargo seal too expensive

Jun. 22 | THE looming mandatory use of electronic global positioning system (GPS)-equipped barrier seals (EGBS) on cargo transported within the Philippines is unacceptable because it demands from businesses huge financial investments. This was the emerging sentiment...