Just two bidders left in race to take over HMM
Widespread reports in South Korea suggest the battle to take over HMM, the country’s flagship line, now has just two parties interested with logistics group LX Group dropping out of the race. HMM’s creditors, including state-run Korea Development Bank and Korea Ocean Business Corp, have put up for sale a stake of about 58% in […]
Chaotic scenes in the Red Sea as Israeli-linked ships are targeted
In chaotic scenes not seen since the 2011 peak of the Horn of Africa piracy crisis, global merchant shipping faced a weekend of terror wrought by Houthis, Iranians and the reemergence of pirates off Somalia. At the centre of all attacks have been ships with links to Israel, and the incidents of the past 72 […]
MSC Slaps Surcharge on Boxes Through Restricted Panama Canal
MSC has slapped a bumper $297 per teu surcharge on shipments transiting the Panama Canal in response to the increasing capacity reductions. It followed the announcement on Tuesday by CMA CGM of a $150 per teu ‘Panama Adjustment Factor’, valid from 1 January. MSC’s surcharge, almost double that of the French carrier, will begin two weeks earlier, on […]
Alex Saverys becomes CEO at Euronav as CMB takes back control
The Saverys family-controlled Compagnie Maritime Belge (CMB) officially took control of Euronav yesterday with John Fredriksen selling his stake in the tanker giant in return for 24 Euronav VLCCs. Now with 49.05% of the shares in Euronav, CMB unveiled a brand new management yesterday with Alexander Saverys taking over from Lieve Logghe as CEO, to […]
Products from Thailand are soon to be on their way by rail to Europe
The first official rail freight service between China and Thailand is a fact. The inaugural train departed on 17 November from Chengdu, and by now, it should already have reached its destination in Map Ta Phut, Thailand. This is the first official link launched between the two countries using the China-Laos railway. Since the service […]
DB presents Germany’s longest rail tunnel to Czech Republic
Deutsche Bahn (DB) recently unveiled a new project proposal for a better connection between Germany and the Czech Republic. It entails the construction of Germany’s longest railway tunnel, which will stretch through the Ore Mountains for 30 kilometres between Heidenau (GER) and Ústí nad Labem (CZ). The new planned infrastructure is expected to offer an […]
Scheduled capacity on main box tradelanes still at ‘unsustainable levels’
With less than six weeks to go before the end of 2023, scheduled capacity post-Golden Week on both the transpacific and Asia-Europe container is currently at “unsustainable levels”, according to new analysis from Danish liner consultancy Sea-Intelligence. Asia-North America west coast scheduled capacity is up 24.9 percentage points compared to 2019, Asia-North America east coast […]
ICAO conference kicks off in Dubai to accelerate global aviation’s transition towards cleaner energy sources.
Well over a hundred countries and one thousand delegates are convening in Dubai this week to firm up their collective commitments to boost global aviation’s transition towards Sustainable Aviation Fuels (SAF), Lower Carbon Aviation Fuels (LCAF), and other cleaner energy sources. “CAAF/3 convenes just over a year after States’ landmark decision on the long-term global […]
The Apollo Global Experts is welcoming a new member in Manila, Philippines
We are excited to announce that the Apollo Global Experts is adding a new strategic partnership in the following location: Manila, Philippines Consult our online member directory for more details about this company.
Boeing: Southeast Asia fleet will nearly quadruple over the next 20 years
Boeing says Southeast Asia’s commercial airplane fleet will nearly quadruple to more than 4,000 jets by 2042, becoming one of the global leaders in air traffic and fleet growth. As low-cost carriers (LCCs) become the dominant business model and expand networks across the vast region, Southeast Asia will be the world’s fastest-growing single-aisle airplane market through the 20-year forecast period. These projections are included in Boeing’s 2023 Commercial […]
