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Hyundai Merchant Marine plans to double vessel capacity by 2022
Monday, 15 January 2018 02:08

HYUNDAI Merchant Marine (HMM) plans to double vessel capacity by launching mega ships by 2022, CEO Yoo Chang-Keun told employees in a New Year's address.

HMM is the latest of several carriers to announce plans for increased capacity and mega containerships. Maersk Line, CMA CGM, MSC and MOL have already put vessels of 22,000 TEU or more into service.

Mr Yoo said HMM hit the four million TEU mark in 2017 from three million TEU lifted in 2016, reported American Shipper.

"I am convinced that these achievements have laid a solid foundation for our long-term plan where we continue to consider ways of doubling our vessel capacity by 2022 including the launching of mega containerships as we deem the environmental regulations in 2020 as a golden opportunity for our resurgence," he said.

Industry experts have predicted protectionism and instability, said Mr Yoo, and in order to meet capacity goals, he issued several directives, including the launch of competitive products in the east-west trade lanes with expanded coverage in Asia via the K2 cooperation.

The K2 consortium was formed earlier in 2017 with two smaller South Korean carriers - Heung-A Shipping and Sinokor Merchant Marine - for moving cargo within Asia.

In 2017, HMM ordered two 11,000-TEU vessels and announced plans to issue rights to raise $620 million in October to add ships to its fleet and buy stakes in shipping terminals in North America and elsewhere.

The CMA CGM Corporate Foundation presents its 2017 award in Lebanon to the SESOBEL association
Wednesday, 10 January 2018 04:34

Tanya Saadé Zeenny, Vice-President of the CMA CGM Corporate Foundation and Executive Officer of the CMA CGM Group, presented today the Foundation’s 2017 Prize to the SESOBEL association. This award recognizes the work done by SESOBEL for children with disabilities and their families.

On this occasion, Naïla Saadé, President of the CMA CGM Foundation, said: “The work done by SESOBEL for more than 40 years is absolutely remarkable and we have been particularly touched by its commitment to children and young people with disabilities. SESOBEL has become an institution in Lebanon in the field of disability management through a global and humane approach. Each child is given special attention to help him develop, along with his family, his autonomy and lead a happy and fulfilling life.

Founded in 1976, SESOBEL helps children and adolescents with physical, mental or invasive disorders and works with their families for better support. A multidisciplinary team of professionals, specialized educators as well as hundreds of volunteers supervise daily these children and young people from all over of Lebanon, for medical follow-up, rehabilitation and an educational program aiming to develop their capacities and to make them autonomous.

Thus, a help center through work allows these young people to find jobs according to their abilities. In addition, a large center for children and young people with autism has been under construction since 2015.

Each year, the CMA CGM Foundation Prize recognizes, in Lebanon and France, two associations for their commitment in the social and humanitarian field. In France, the SOS Children’s Villages association received the 2017 Foundation Prize. In addition, the CMA CGM Corporate Foundation has rewarded, as part of its 2017 call for projects, 13 Lebanese and French associations working to improve the living conditions, well-being and development of children who are ill or victims of trauma. Since 2012, the Foundation has also been running the Containers of Hope operation, which enables French non-governmental Organizations to deliver humanitarian material free of charge thanks to the CMA CGM Group’s shipping services.


Vinafreight (VNF) received the transfer of 10 million shares of Mipec Port
Monday, 08 January 2018 01:41
Vinafreight Joint Stock Co (VNF - HNX) has approved the transfer of 10 million shares, representing 20% ​​of charter capital at Mipec Port JSC.
Accordingly, Vinafreight held Mr. Nguyen Bich Lan, Chairman and General Director of the Company to represent the above mentioned shares and exercise the rights and obligations of the Company at mipec port.
Previously, on December 22, Board of Transportation Foreign Trade Transportation (VNT - HNX) has also unanimously approved the policy of selling 12.5 million shares, equivalent to 25% of charter capital at Mipec Port.
Vinafreight is currently holding 1.32 million shares of VNT, 15.47% and 120.890 shares of Vinalink Logistics JSC (VNL), at 1.34%.
On December 20th, VNF paid the first dividend of 1/2017 in cash to existing shareholders at the rate of 10%, each share will receive 1,000 dong. Also in December, the company has completed the list of shareholders to get written opinions through the plan to issue shares to existing shareholders.
After staying unchanged yesterday (27/12), VNF was quite volatile today although liquidity continued to drip. Specifically, VNF opened down nearly 10% but then recovered and regained its 55,000 dong / share correlation with trading volume reached only 200 units.
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