Port Operating Companies

Exporters face delays at U.S. ports

US dockworkers are discussing new contracts. Any strike is seen affecting everyone.Photo: Bloomberg

Exporters face delayed cargo shipments and higher freight charges if dockworkers at US Gulf and east coast ports take industrial action in the coming weeks over new labour contracts.

Friday, 14 September, 2012, 9:30am

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

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

Bank rescue, China data buoy shipping

Shares in a raft of shipping firms soared yesterday amid upbeat investor sentiment following the release of sharply higher mainland export and import figures for May and optimism about a bailout of Spanish banks.

12 Jun 2012 - 12:00am

Container volumes up despite fears

Container volumes through southern Chinese ports are continuing to grow, despite concerns about the outlook for trade, especially with Europe facing a fresh crisis.

David Skov, head of Southern China for Maersk Line, said that based on feedback from exporters and cargo owners 'growth in general is strong out of South China'.

24 May 2012 - 12:00am

Lai See

SFC chief not trying to win friends at Hong Kong Club

23 May 2012 - 12:00am

Expansion at greek container terminal

Cosco Pacific, the marine terminals subsidiary of China's largest shipping company, is going ahead with a Euro120 million (HK$1.18 billion) expansion of Piraeus Container Terminal in Greece months earlier than planned.

18 May 2012 - 12:00am

Shipping lines to receive low-sulphur fuel rebates

Shipping lines voluntarily using costly low-sulphur fuel to reduce air pollution in Hong Kong will finally get government help to offset their higher fuel bills.

But soaring fuel costs and a lack of government action to force all shipping firms to use low-sulphur fuel in Hong Kong may see some operators switch back to oil with a higher sulphur content.

7 May 2015 - 3:07pm

Sailing may get rougher this year for Cosco Pacific

Cosco Pacific, the terminals and shipping-container division of China's largest shipping company, is facing mixed prospects this year after net profit climbed 7.6 per cent to US$388.8 million last year, up from US$366.2 million in 2010.

28 Mar 2012 - 12:00am

Container lines freeze bookings

European exporters face having their shipments to Asia disrupted for up to six weeks after a raft of container lines stopped accepting cargo bookings this week in an effort to clear a backlog of freight at European ports.

24 Mar 2012 - 12:00am

Rising fuel prices add to container line's stress

Overcapacity, sluggish cargo growth and high fuel prices are set to make 2012 a difficult year for container shipping lines even though carriers have started to increase freight rates, a senior executive at Orient Overseas (International) said yesterday.

13 Mar 2012 - 12:00am

Port of Shanghai sees a slowdown

In a sign of slowing global trade, the throughput of Shanghai, the world's busiest port, turned out to be weaker than expected in the first two months of this year.

8 Mar 2012 - 12:00am

Maersk warns of turbulent 2012 as profits sink 33pc

AP Moller-Maersk, one of the world's biggest shipping and terminals groups, faces a mixed and challenging year as uncertain global economic prospects coupled with overcapacity in the container shipping sector weigh on the company, the company said.

28 Feb 2012 - 12:00am

Lai See

Tang's follies saddle Beijing with unpleasant choices

23 Feb 2012 - 12:00am