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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...
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
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
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...
PPA adds more ports to its integrated management network
Jun. 11 | The Philippine Ports Authority (PPA) has rolled out its integrated management system (IMS) in more ports in the country to facilitate vessel entrance and clearance (VEC) processes. PPA Memorandum Circular (MC) No. 04-2018, No. 05-2018, No. 06-2018, and...
Marina’s 2017 revenues below 2016 figure by 21%
Jun. 11 | The Philippines’ Maritime Industry Authority (Marina) recorded revenues of P901.121 million in 2017, 21% lower than the P1.14 billion generated in 2016 but 3% higher than the P872.098 million target for the period. Tonnage fees collected last year...
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...
SoKor commits $172M loan for planned Cebu box terminal
Jun. 7 | The Philippines and South Korea have signed a US$172.64-million loan agreement for the construction of a new international container port in Cebu that will free up the existing seaport in the province and provide a more efficient and reliable transport...
CMA CGM taps startup to embed AI on board its ships
Jun. 6 | French container shipping line CMA CGM announced its collaboration, since the beginning of the year, with Shone, a San Francisco-based startup that specializes in the use of artificial intelligence (AI) for maritime transportation. This collaboration...
