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SINGAPORE: Swim or sink: That’s the message shipping executives in Asia are taking into the new year.
PETALING JAYA: The country’s shipping industry risks seeing a decrease in tonnage and losing its top 20 ranking in the world due to the current lack of supportive policy measures, said Malaysia Shipowners’ Association (Masa).
SEOUL: The chairman of Hanjin Group transferred 40 billion won (US$36mil) to Hanjin Shipping to help unload cargo stranded on the troubled shipper’s vessels, a spokesman said, but regulators warned securing further funds could take “considerable time”.
KUCHING: Shipping firm Hubline Bhd has met the expectation of its dry bulk shipping business which it is now concentrating on after exiting the container shipping business, according to its chairman, Richard Wee Liang Chiat.
The Malaysia Competition Commission (MyCC) is planning to propose a block exemption order (BEO) for liner shipping agreements that are inked in Malaysia or that affect the liner shipping services market here.
The Federation of Malaysian Freight Forwarders wants the Federal Government to formulate regulations to prevent international shipping lines from crippling them with expensive deposits.
SINGAPORE: US private equity and investment funds are betting Asia’s shipping industry, hit by a restructuring wave that has already swept Europe and the United States, is the best spot to ride a recovery from the industry’s worst downturn in three decades.