Mr Cheng had earlier announced that Yang Ming had achieved a net profit of $2.12bn in Q1 22, with a margin of 57%, the second-highest among Taiwan’s three major liner operators. Yang Ming’s net profit margin was two percentage points lower than Evergreen, which had a net profit of $3.54bn. ...

Yesterday, the city government relaxed some testing requirements for inbound passengers, providing a glimmer of hope for tourism and increased belly capacity for air cargo. The latest figures from Hong Kong International Airport (HKIA), for example, show a 2.8% year-on-year drop in cargo throughput ...

Shell’s new facility is at its Shell Energy and Chemicals Park Rotterdam refinery, close to Cologne, Germany. It is set to produce 820,000 tonnes of sustainable biofuel a year from hydroprocessed esters and fatty acids (HEFA), used to create both sustainable aviation fuel (SAF) and diesel. K&N...

The sea-route connection began with the MV Hope Seven – a barge owned by Hansa Shipping – which berthed at BMCT on Thursday. “The weekly service between Goa and PSA Mumbai shall benefit the trade and facilitate exim [export-import] movement from/to Goa globally, thus amplifying transhipment vo...

One service, via the Caspian Sea, involves railing cargo from locations in China to the Kazakh port of Aktau. From there, the cargo will be shipped across the Caspian Sea to Baku, Azerbaijan, where the goods are railed to Istanbul. The final leg will see the cargo railed or trucked to European desti...

Lufthansa, with partner MSC, reportedly put in bids last week for 20% and 60%, respectively, no doubt looking to strengthen their market position, especially in the light of CMA CGM’s investment in Air France-KLM. But the French-Dutch group is also looking to extend into Italy with an investment i...

While predictions for freight growth have been scaled back, parcel traffic is expected to grow between 5% and 10% a year through to 2027, according to analysis from global parcel shipping and mailing company Pitney Bowes. The Pitney Bowes Parcel Shipping Index shows parcel volume in the US increased...

In proposals to reduce debt and restructure its shareholdings, EMC proposed a refund on 60% of the share capital, which it said would be “beneficial in enhancing shareholder equity”. EMC member of the board, Chang Kuo-Hua, eldest of the four brothers, has been locked in a battle with his sibling...

And this could result in some carriers walking away from highly inflated time-charter extensions, leaving cargo commitments uncovered. Shipbroker Braemar ACM reports that the 8,814 teu Northern Jasper, which, according to eeSea data, is one of 10 vessels deployed on Zim’s ZCP, Maersk’s TP10 and ...

However, the rate spikes could be shortlived if some reports of cancelled orders prove to be linked to weakening consumer demand in Europe and the US. Ocean carriers have succeeded in managing their capacity during the two-month Covid restrictions in the Shanghai region, and this has mostly prevente...