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New container transport line “Poland-Finland Express” launches operation in the Port of Riga
Thursday, 01 March 2018 01:44

COSCO Shipping Lines, one of the world’s largest container shipping companies, has launched operation of its container shipping line “Poland-Finland Express” at the Port of Riga. The Baltic Sea route of the new line is Gdańsk-Helsinki-Riga-Klaipeda-Gdańsk, returning to the Port of Riga weekly.

The decision of COSCO Shipping Lines to include the Port of Riga in its container transport line route confirms the competitiveness and capacity of the Port of Riga, ensuring high quality and speed of service.

COSCO Shipping Lines is owned by the Chinese shipping holding company COSCO and is engaged in international sea container transport. With a fleet of 361 container vessels (total capacity of 1.84 million container units (TEU)) and the 2.68 million containers owned by the company, COSCO Shipping Lines is currently the fourth largest container carrier in the world.

In 2018, the line “Poland-Finland Express” received the status of a regular shipping line at the Port of Riga, thus, at the moment, six container shipping lines are actively operating at the Port of Riga. Their various routes connect Riga with all the major ports of the Baltic Sea as well as the largest container transit ports in Europe.

“The launching of any new container line and initiating operations of new container carriers at the Port of Riga opens the way for new business activities and opportunities to grow container volumes at the port. In addition, it confirms that the Port of Riga has all the prerequisites for becoming a regional container transit centre in the Baltics – an advantageous location in the centre of the Baltics, high-quality port and terminal services, as well as a constantly growing volume of containers,” says Ansis Zeltins (Ansis Zeltiņš), CEO of the Freeport of Riga.

Last year, a record volume of containerized cargo was transhipped at the Port of Riga – 4.6 million tons of container cargo or 446 thousand container units (TEU) were transhipped through the port, reaching a new container cargo turnover record for the history of the port’s existence (+ 13.5%). The Port of Riga not only recorded one of the largest cargo volume growths in the entire Baltic Sea region, but also managed to increase the port’s market share in the container transportation segment, reaching 9.8% of the total container volume.

FM Logistic expands coverage in Vietnam
Monday, 26 February 2018 09:27

FM Logistic is one of the leading companies in the field of international supply chain (warehousing, transportation and packaging) and has two large leasing and purchasing businesses in the North, under the advice of Cushman & Wakefield.

 Cushman & Wakefield successfully advised FM Logistic to lease the first warehouse located in Bac Ninh. The selected site will provide warehouses with an area of ​​5,000 m2 to serve FM Logistic customers.

Cushman & Wakefield also advised FM Logistic to acquire 50,000 m2 of land in the North to build the first European standard warehouse in Vietnam. This is part of the "Ambition 2022" plan to expand coverage to support the growth of our customers.

Stéphane Descarpentries, FM Logistics's Asia Managing Director, said: "In line with our strategy, our goal is to By 2020, it will become one of the leading warehouse suppliers in the Vietnamese market and develop integrated solutions to create value for customers”.

"The logistics industry in Vietnam is growing rapidly with the expansion of the leading names in the world, many of whom are Cushman & Wakefield's clients. This is a great time for businesses in the real estate industry and warehousing. 2017 is also the record year for our dealings in this field, "said Alex Crane, CEO of Cushman & Wakefield Vietnam.

SITC takes up options for 2,400 teu pair from Yangzijiang
Wednesday, 07 February 2018 09:23

Intra-Asia container line SITC International Holdings has exercised options for two 2,400 teu vessels from Yangzijiang for $50m.

SITC said in a stock market announcement that the options, which were part of a deal signed in November, would be see delivery of the ships in February and April 2020 respectively. They will be built at Yangzijiang’s yards, Jiangsu Yangzijiang Shipbuilding and Jiangsu New Yangzi Shipbuilding.

The initial deal for two similar ships was signed in November for the same price with the option to add another pair. The first two vessels are due for delivery in October and December 2019.

SITC has been actively picking up ships in the sale and purchase as well as newbuilding market recently.

It said the additional orders are to expand the group’s self-owned fleet and meet its operational requirements.

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