mai hien

NYK to become 100% owner of forwarder Yusen
Thursday, 16 November 2017 01:43

Japanese shipping and transport company NYK is to acquire the remaining 41% stake of its freight forwarding subsidiary, Yusen Logistics, from minority shareholders. The transaction is expected to be completed by late March, 2018.

In a statement, NYK said the move was part of its strategy to expand beyond its traditional shipping activity and exploit the Group’s technological capabilities.

NYK Group envisages establishing two main pillars of business, namely air and ocean freight forwarding, and contract logistics, to meet demands by its global customers for total logistics solutions.

It would deepen the collaboration of each business and strengthen sales capabilities, promote collaboration through the common use of information, technology and systems and increase investment by sharing NYK’s financial strength and creditworthiness.

On its website, a Yusen statement said: "Recently, since securing cargo space for air freight forwarding in Asia has become difficult due to factors such as increased passenger demand, preferential treatment of passengers by governments and downsizing of aircrafts, reliably securing cargo space has become important for ensuring future profitability.

"Furthermore, global logistics providers are actively consolidating through mergers and acquisitions to enhance profitability and competitiveness. Under the global operating environment, competition with the Company’s competitors is expected to intensify not only with respect to business conditions, market conditions and customer trends but also with respect to securing purchasing power and cargo space."

My Thuy Port might be kicked off in 2018
Monday, 13 November 2017 01:40

With foreign investors lining up, My Thuy International Seaport in the central province of Quang Tri will likely be kicked off in early 2018, according to the Quang Tri Department of Planning and Investment.

The Ministry of Transport (MoT) has green-lighted the development of My Thuy International Seaport project which will take place in three stages to ensure its feasibility.

In a document sent to Quang Tri on October 31, MoT agreed with the plan to first develop four piers by 2020. In the second stage three other piers will be built by 2030, and three more in the third stage.

This adjustment was made following comments from MoT, which said that the earlier-proposed project is too much bigger than the detailed planning for ports of the central region including Quang Tri.

According to a VIR source, the investor, My Thuy International Port Joint Venture Company (MTIP), has finished the feasibility study of the project.

"As many as 14 investors have showed interests in the project. If everything goes smoothly, we plan to kick it off in early 2018," a senior official of the province told VIR.

Getting in-principle approval from the government in April 2017, the project has been stuck since then as Quang Tri and MoT failed to reach a consensus on the capacity of the $630-million project.

MoT suggested that the province carefully consider the volume of goods forecast to be shipped via the port. Particularly, the volume of goods from industrial zones (IZs) in the South East Economic Zone and other IZs in the province, as well as goods in transit for Laos, the East-North region of Thailand in the East-West Economic Corridor.

According to MoT, the volume of goods shipped via My Thuy Port is estimated to be 18.36 million tonnes by 2020 and 35.75 million tonnes by 2030, much higher than the 1.1 million and 1.5 million tonnes projected in the detailed planning for ports of the central region.

Located in Hai Lang district, My Thuy Port will work as a transshipment port for goods in the East-West Economic Corridor, thus creating a driving force to attract more investors to the province.

At present, many projects in the South East EZ are awaiting the project’s approval. About 10 projects have been so far registered in the EZ with a total investment capital sum of VND62.3 trillion ($2.83 billion), focusing on seaport services, thermal power, energy, and infrastructure.
Zim adds Kaohsiung to Asia - US East Coast service
Thursday, 09 November 2017 01:52

Zim has added a call in Kaohsiung, Taiwan to its Asia – US East Coast service.

The Israeli line is adding Kaohsiung to its Seven Stars Express Service from 3 November.

With the addition of the Taiwanese port Zim will be offering a unique product connecting Kaohsiung and Wilmington in the US. It will offer a premium product for Taiwanese exporters to Savannah and Wilmington.

“The new call is part of Zim’s ongoing efforts to improve and enhance our portfolio on the Asia-US East Coast trade and cater for market needs,” the container line said.

The Seven Stars Express Service is operated solely by Zim with eleven 5,000 teu vessels.

The new rotation of the service will be: Kaohsiung – Da Chan Bay – Yantian – Cai Mep – Port Kelang – Colombo – New York- Norfolk – Wilmington – Savannah – Port Kelang – Kaohsiung.

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