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OOCL reports revenue, volume growth for Q3
Oct. 24 | Overall volume rose 9.5% and revenue jumped 16.3%, boosted largely by a strong east-west trade All four key trade lanes registered higher liftings and earnings Orient Overseas Container Line (OOCL) registered a strong third quarter as volume rose...
Box shipping forecast raised as industry resilience shines
Oct. 24 | 2020 container shipping market outlook upgraded to -3.3%, up from -7.3% after smaller-than-expected decrease in Q2 port throughput Container trade resilience during pandemic rested on surprisingly high consumer confidence on the back of government...
PPA seeks up to P250M fund to aid domestic shipping lines
Oct. 23 | Domestic shipping lines won’t have to pay dockage and layup fees, if fund is approved Fund will be taken from Department of Transportation P9.5-billion standby allocation The Philippine Ports Authority (PPA) is asking for a P230 million to 250-million...
Cebu Port activated as fourth crew change hub
Oct. 19 | Disembarking seafarers at the Port of Cebu observe health and safety protocols such as disinfection and wearing of full personal protective equipment. | Photo from Cebu Port Authority The Port of Cebu was activated on October 16 as the Philippines’...
LNG container ship carries record 20,723 full containers
Oct. 19 | CMA CGM Jacques Saade carries a record number of containers on leaving Singapore. The CMA CGM Jacques Saade, the first liquefied natural gas (LNG)-powered container ship with a capacity of 23,000 containers, has set a world record for the number of full...
Asia-US freight rates jump as volumes rebound
Oct. 18 | Long-term Far East-US container freight rates are now experiencing a boost, in line with the current strength seen in the short-term market, according to the Baltic and International Maritime Council (BIMCO). Long-term rates from Asia to the US West Coast...
Hapag-Lloyd earnings forecast upgraded on strong Q3 demand
Oct. 16 | German container carrier Hapag-Lloyd raised its earnings forecast after a better-than-expected third-quarter performance. Hapag-Lloyd said earnings before interest and taxes (EBIT) for the third quarter 2020 significantly increased to around EUR350 million...
ICTSI steps up investment in Ecuador port
Oct. 15 | Port of Guayaquil | Photo from ICTSI Contecon Guayaquil S.A. (CGSA), a subsidiary of port operator International Container Terminal Services, Inc. (ICTSI), is investing US$18 million to further strengthen and develop the Port of Guayaquil in Ecuador. With...
10 Chinese ports reactivate foreign crew change operations
Oct. 14 | Port of Shenzhen, China China has eased crew change restrictions by allowing 10 ports to resume foreign crew change operations, while also introducing a “circuit-breaker mechanism” in case some of a ship’s crew test positive for the coronavirus,...
