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Saturday, July 11, 2020

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  • Far East Maritime (3) (X)

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Blues continue for troubled China Cosco

Posted to Far East Maritime (by Greg Knowler) on November 13, 2013

Don’t leave town, police told an executive director at China Cosco Holdings last week. Okay, they probably never said that, but it doesn’t change the fact that Xu Minjie is under investigation in what is widely believed to be part of Beijing’s crackdown on widespread corruption.

Rates riding a new record low on Asia-Europe

Posted to Far East Maritime (by Greg Knowler) on October 5, 2013

Rates on the Asia-Europe trade have fallen to an abysmal level. We are hearing of forwarders securing freight rates of as low as US$900 per container, which is well below any kind of sustainable level as far as shipping lines are concerned.

No frills container carrier lining up for launch

Posted to Far East Maritime (by Greg Knowler) on February 11, 2010

Neptune Orient Lines just reported a loss of US$741 million for 2009. China Shipping Container Lines is expected to soon announce a loss of US$1 billion. Other results will begin to trickle in but no carrier handling containers will have done well last year.