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OOCL announces new Chief Executive Officer
Friday, 13 April 2012 01:35
ooclOOCL is pleased to announce that Mr. Andy Tung, currently the Chief Operating Officer of OOCL, will succeed Mr. Philip Chow, as the new Chief Executive Officer of the company effective July 1, 2012.   Mr. Tung will also continue to be an Executive Director and a member of the Executive Committee of Orient Overseas (International) Ltd. (OOIL), the parent company of OOCL, and the Managing Director and a member of the Executive Committee of OOCL.
CMA CGM to Hike Rates on India-Europe Service
Friday, 13 April 2012 01:27
cmaCMA CGM will raise its rates on westbound cargo moving on its Epic service from India to North Europe and the Mediterranean, starting May 1.
The planned increase on dry and refrigerated shipments will be $200 per 20-foot container and $400 per 40-foot/high cube container.
“In a continued effort to provide reliable and efficient services, CMA CGM Group has decided to restore freight rates from India to North Europe, the Mediterranean, Baltic, Black Sea and North Africa to a sustainable level,” CMA CGM India said.
Yangming Marine of Taiwan Struggles to Make Profit in 2012
Wednesday, 11 April 2012 01:32
yang mingYangming Marine Transport Corp., a major container shipper in Taiwan, said the third quarter will decide corporate profitability this year.
Affected by slumping freightage and rising fuel costs, Yangming posted after-tax loss of NT$3.33 per share in 2011.
Taiwan’s second-largest container shipper, Yangming posted NT$9.399 billion in after-tax losses in 2011 due to slumping freightage on European-bound routes.
The company lost NT$4 billion in the fourth quarter of last year, the worst in 2011, but fared well compared with world-class shipper in the fourth quarter of last year.
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