Shipowner could be liable for pellet spill

The owner of the ship that spilled plastic pellets that washed up on Hong Kong beaches could be held liable, the government said yesterday.

Wednesday, 15 August, 2012, 11:07pm

OOIL slides as profit goes down 33pc

Shares in Orient Overseas (International) fell almost 4 per cent yesterday after the Tung family shipping and property group reported a 33 per cent drop in net profit to US$116.77 million in the first half of this year.

15 Aug 2012 - 10:58pm

China Cosco shares fall as interim net loss set to grow

China Cosco, the listed subsidiary of the mainland's largest shipping firm, saw its share price fall more than 3.6 per cent yesterday after it warned of a first-half net loss of more than 4.14 billion yuan (HK$5.08 billion).

The firm's stock closed at HK$3.15, down 3.65 per cent, its lowest since October 10, according to Hong Kong stock exchange data.

31 Jul 2012 - 12:00am

Increases in freight rates buoy OOCL revenues

Orient Overseas Container Line saw revenues climb 5 per cent to almost US$2.88 billion in the first half of this year, buoyed by higher freight rates, especially in the second quarter.

14 Jul 2012 - 12:00am

China's helping hand on cargo 'impractical'

The global shipping industry is facing its worst downturn in three decades, but industry experts say that mainland moves to boost Chinese shipping firms' business by allocating more cargo to them could be tricky to implement.

Richard Lidinsky, chairman of the US Federal Maritime Commission, said: 'Some kind of China cargo reservation system [would be] very difficult to do.'

10 Jul 2012 - 12:00am

Transport boost needed to handle Yangtze growth

More investment in road, railway and barge networks along the Yangtze River needs to take place to cope with the swift pace of manufacturing and development in the west of the mainland, logistics experts say.

6 Jul 2012 - 12:00am

Freight rates set to sink again as capacity rises

Moves by container shipping companies such as Orient Overseas Container Line to boost revenues on transpacific services between Asia and North America could be derailed by an increase in shipping capacity that would depress freight rates.

8 Jun 2012 - 12:00am

Shippers demanding big levy to recoup losses

Hong Kong and mainland exporters face a massive increase in the cost of shipping their goods to North America during the summer peak.

10 May 2012 - 12:00am

A homely solution to terminal decline

'Nonetheless, we must also appreciate that the open storage and port back-up operations in the New Territories are providing support for the logistics industry and port operation in Hong Kong.'

Raymond W. M. Wong Deputy director, Planning Department Letters to the Editor, March 27

29 Mar 2012 - 12:00am

Opinion split on need for CT10

Shipping lines and terminal operators are divided over whether Hong Kong will need a tenth container terminal - known as CT10 for short - as manufacturing continues to migrate to China's inland provinces and emerging Asian economies, a conference heard this week.

15 Mar 2012 - 12:00am

Industry braces for time of change

The global shipping industry faces a spate of mergers and corporate failures as a lack of cash and overcapacity weigh on the sector. But Asian banks, including those in Hong Kong and the mainland, are set to increase their funding of the industry, maritime experts said yesterday.

29 Feb 2012 - 12:00am

Troubled shipping lines raise rates on key routes

Exporters and importers face higher shipping costs as loss-making and financially troubled shipping lines raise freight rates on key trade routes to Europe, the Mediterranean and South Asia in the next few months.

4 Feb 2012 - 12:00am

Holiday headaches for exporters

Hong Kong and mainland exporters, already facing uncertainty over trade prospects in North America and Europe, face another, more immediate, difficulty ahead of the Lunar New Year holiday - getting their products shipped in the first place.

13 Jan 2012 - 12:00am

Container lines prepare for trade doldrums

Hard-pressed container lines, which have already seen charter rates sink on key trades routes between Asia and Europe and transpacific, could face further difficulties as a result of changing trade patterns.

9 Jan 2012 - 12:00am

Firms hope for Black Friday order bump-up

With Black Friday yesterday kicking off the pre-Christmas shopping season in the United States, container shipping lines hoped strong retail sales coupled with cuts in shipping capacity would buoy carriers against wintry economic conditions, an industry conference heard in Hong Kong yesterday.

26 Nov 2011 - 12:00am