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Latest news on transportation and cargo industry

Moody’s predicts stable outlook, 4%-5% earnings for box shipping

Moody’s predicts stable outlook, 4%-5% earnings for box shipping

Jun. 20 | The outlook for the container shipping segment remains stable, with economic and trade growth both supporting demand, although overcapacity may prevent further freight rate increases, says Moody’s Investors Service in a new report. The outlook for the...

Transshipments drive May air cargo growth for HKIA, Cathay Pacific

Transshipments drive May air cargo growth for HKIA, Cathay Pacific

Jun. 20 | A surge in transshipments pushed air freight volumes higher in May year-over-year for both Hong Kong International Airport (HKIA) and national flag carrier Cathay Pacific Group. HKIA recorded continuous growth in cargo and passenger volumes in May, as...

IMO standardizing data for electronic exchange of vessel information

IMO standardizing data for electronic exchange of vessel information

Jun. 18 | The International Maritime Organization’s (IMO) Facilitation (FAL) Committee approved at its 42nd session a completely revised and updated structure for the IMO’s Compendium on Facilitation and Electronic Business, including a new standard reference...

Container liners eye slow steaming amid rising fuel prices

Container liners eye slow steaming amid rising fuel prices

Jun. 18 | Box shipping lines such as industry leaders Mediterranean Shipping Company (MSC) and Maersk Line are now looking at slow steaming on some routes as a viable approach to cutting costs and improving reliability, according to a new analysis from Platts. Platts...

HMM signs LOIs with 3 shipyards to build 20 mega box ships

HMM signs LOIs with 3 shipyards to build 20 mega box ships

Jun. 16 | South Korean leading container shipping liner Hyundai Merchant Marine Co. (HMM) has signed separate letters of intent (LOIs) with the country’s three major shipbuilders to build 20 container carriers by mid-2021. HMM said it has signed LOIs with Hyundai...

Indonesia building more cargo terminal ports to support industry

Indonesia building more cargo terminal ports to support industry

Jun. 13 | Indonesian state-owned port operator Pelindo I is constructing a number of cargo terminal ports in the regions as a strategy to promote local industrial development. “We are developing cargo terminal ports to support local industry such as what...

Contract for logistics center project at HKIA awarded

Contract for logistics center project at HKIA awarded

Jun. 11 | The right to develop and manage a premium logistics center at Kwo Lo Wan in the South Cargo Precinct of Hong Kong International Airport (HKIA) has been awarded, said Airport Authority Hong Kong (AA). The awardee is a joint venture led by Cainiao Network,...

Indonesia junks rule to use local ships for import, export of commodities

Indonesia junks rule to use local ships for import, export of commodities

Jun. 11 | The Indonesian government has scrapped a regulation that requires the use of Indonesian ships to export and import certain commodities. Trade Minister Enggartiasto Lukita said his ministry has revoked Trade Ministerial Regulation No. 82/2017 on the “Terms...

UPS expands ocean LCL service in 130 new trade lanes

UPS expands ocean LCL service in 130 new trade lanes

Jun. 9 | Atlanta-based logistics giant United Parcel Service (UPS) has announced a major expansion to its ocean less-than-container (LCL) service with the addition of direct sailings in 130 lanes. The origin and destination countries cover most of the globe, including...

IATA cautions gov’ts on airport privatization

IATA cautions gov’ts on airport privatization

Jun. 8 | Administrations should be more careful when considering privatizing airports, said the International Air Transport Association (IATA), suggesting they think of the long-term economic and social benefits delivered by an effective airport ahead of the short-term...
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