ON the back of record container volumes, lower fuel costs and administrative expenses, Malaysia's Westports Holdings has posted a profit before tax of MYR650 million (US$153 million) for 2015, an increase of 12 per cent compared to the previous financial year.
SHIPPING volume is up on Europe-Middle East-South Asia trade lane allowing carriers to increase capacity to meet rising demand, reports London's Drewry Maritime Research.
In the early morning of Feb 8 the tug "Fairmount Expedition" (IMO:9358943) as the last ship involved in the salvage of the near Wedel reached the Elbe estuary after Smit Salvage was contracted with the refloating of the ship.
Yildırım Holding will invest in the construction of a port in Ecuador, and the framework agreement for the $750 million project was signed in Ecuador’s capital, Quito, during President Recep Tayyip Erdoğan’s visit to Ecuador.
LONG BEACH saw a big rebound last year in container throughput in 2015, handling 7.2 million TEU , the third time in its 105-year history that it exceeded seven million TEU.
THE container shipping will continue in choppy waters this year with the growing lack of demand coupled with excess capacity, according to New York's Seeking Alpha's Container Shipping Market Macro Outlook for 2016.
FRENCH container shipping giant, CMA CGM has signed a long-term agreement with the Russia's Port Bronka, on the outskirts of St Petersburg, for handling and storage of container cargo.
BILATERAL trade between North Korea and China declined by 14.8 per cent from January to November 2015 compared to the same period a year ago, to US$4.9 billion, according to a report by the Korea Development Institute (KDI) in South Korea.