Hutchison net profit up 31pc to US$115.7 million as sales fall 6pc

SINGAPORE listed global port operator Hutchison Port Holdings Trust (HPHT) saw first half net profit attributable to shareholders increase 31 per cent year on year to HK$897.6 million (US$115.7 million), drawn on revenues of HK$5.68 billion, down six per cent.

OOCL adds intra-Asia loop for China, Vietnam and Thailand

HONG KONG's Orient Overseas Container Line (OOCL) is to upgrade its existing service between China and Ho Chi Minh/ Laem Chabang with wider port coverage and by offering customers with more comprehensive connections shorter transits.

Latest Maersk-MSC 'back to the future' move favours Panama over Suez

2M MEMBERS Maersk and MSC have made a strategic move in their Far East-US east coast loops, dropping the Suez priority and returning the headhaul to Panama in a new 'round-the-world service.

Hapag-USAC merger deal done and dusted, now up to regulators

GERMANY's Hapag-Lloyd and the United Arab Shipping Company (UASC) have officially signed the agreement that will see the Dubai company merged with the Hamburg shipping giant.

CMA CGM, Hamburg Sud, UASC withdraw joint Far East-USEC service

CMA CGM, Hamburg Sud and UASC have removed their joint Far East-USEC Vespucci/APNE/NEU 1 service owing to weak demand. The transatlantic leg of this pendulum service is to be replaced by a new North Europe-USEC service.

DP World signs MoU to develop container terminal at Kaohsiung

GLOBAL container terminal operator DP World has signed a Memorandum of Understanding (MoU) with the state-run Taiwan International Ports Corporation (TIPC) for the development of Kaohsiung Port's Terminal 7.

Winter storm closes South African Port of Durban for a day

THE Port of Durban was closed for a day this week due to high swells and strong winds after heavy rains and snow fell over much of KwaZulu-Natal.

Hanjin's debts cast a bad light on South Korea: Gerry Wang

HONG KONG's Gerry Wang, the Seaspan CEO, warned the South Korean government that its otherwise sound reputation is at risk because of Hanjin Shipping's enormous debt load, and its begging for charter rate reductions.

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