Filipino seamen at greater risk in Red Sea war zone

THE Filipino seafaring community has garnered significant attention lately, particularly with the recent arrival of survivors from the fatal bulk carrier attack in the Gulf of Aden, reports Singapore’s Splash 247. Additionally, the government has pledged intensified efforts to secure the release of the crew abducted nearly four months ago from a car carrier by the Houthis. Manila authorities are now collaborating with diplomatic representatives from other nations to negotiate the release of 25...

https://www.seanews.com.tr/filipino-seamen-at-greater-risk-in-red-sea-war-zone/199890/

IM Motors raises US$1.1 billion to work on smart cars

IM MOTORS, a premium electric vehicle brand of state-owned Chinese automaker SAIC, said it has raised more than CNY8 billion (US$1.1 billion) to work on new smart car models and technologies, reports Reuters. IM Motors’ Series B round of equity financing was among the biggest investments into Chinese EV brands in the past two years, following Abu Dhabi-based CYVN’s combined $3 billion investments into NIO and Stellantis’ $1.6 billion purchase of a 21 per cent stake in Leapmotor. IM Motors,...

https://www.seanews.com.tr/im-motors-raises-us-1-1-billion-to-work-on-smart-cars/199884/

Philippines forwarders move 17pc less air cargo in ’23

IN 2023, international air freight forwarders managed 302.140 million kilogrammes of cargo, marking a 17 per cent decrease from the previous year, reports Manila’s PortCalls Asia. Nippon Express Philippines led the pack, lifting 44.78 million kilogrammes, constituting 14.82 per cent of the total cargo handled. Various shipment methods, including direct shipments, consolidations, and breakbulking, all experienced declines throughout the year. Conversely, domestic air freight forwarders saw a...

https://www.seanews.com.tr/philippines-forwarders-move-17pc-less-air-cargo-in-23/199895/

Lufthansa Cargo extends its IATA CargoIS deal

THE International Air Transport Association (IATA) announced that Lufthansa Cargo has renewed and expanded the scope of its agreement to utilise CargoIS for its air cargo data needs, extending a partnership that has spanned over a decade. ‘We are pleased to announce the extension of our partnership with IATA through CargoIS,’ said Lufthansa Cargo CEO Ashwin Bhat. ‘The market intelligence IT has played a key role in shaping our planning and improving our operational efficiency,’ he said. As part...

https://www.seanews.com.tr/lufthansa-cargo-extends-its-iata-cargois-deal/199892/

AmCham survey shows foreign firms slowing China expansion

Foreign companies are slowing expansion in China as they weigh its slowing economy and tensions with the US, according to a recent survey, reports Caixin. The American Chamber of Commerce (AmCham) in South China published results of a survey showing that 40 per cent of companies studied polled they are not planning to expand in China over the next three years, a rise of nine per cent from a year ago. Still, the majority retain a positive outlook on China’s long-term economic prospects, a survey...

https://www.seanews.com.tr/amcham-survey-shows-foreign-firms-slowing-china-expansion/199887/

Venture Global building LNG fleet to sell cargoes directly on spot market

U.S. liquefied natural gas exporter Venture Global LNG, which is involved in multiple legal fights with clients, has announced it is building a large fleet of LNG-powered vessels.

Venture Global’s fleet will include nine vessels. Six will have a cargo capacity of 174,000 cubic meters and three a cargo capacity of 200,000 cubic meters. The tankers are under construction in South Korea and will be delivered starting later this year. All nine ships will be primarily fueled by Venture Global’s...

https://www.freightwaves.com/news/venture-global-building-lng-fleet-to-sell-cargoes-directly-on-spot-market

Cosco makes regular Genoa calls with 20,000-TEUers

COSCO Shipping adds four 400-metre-long giants to its Asia Mediterranean Service (AEM1), with Cosco Shipping Aries, first arrival on this week as the first 20,000-TEU vessel to call at Genoa on a regular basis, reports St Petersburg’s PortNews. On its maiden voyage in 2018, the ultra-large Cosco Shipping Aries was already the first 20,000-TEUer from China to call HHLA Container Terminal Tollerort (CTT) in Hamburg. Captain Wang Chunsheng and his crew will be the first to sail the 400-metre-long...

https://www.seanews.com.tr/cosco-makes-regular-genoa-calls-with-20-000-teuers/199883/

China increases transaction limits for foreign visitors

THE People’s Bank of China (PBOC), China’s central bank, is reducing barriers that face foreign visitors using the country’s mobile payment services, reports Caixin, The central bank, to revive the tourism, has guided major payment platforms including Ant Group’s Alipay and Tencent Holdings’ Tenpay – the operator of WeChat Pay – to increase the single transaction limit for foreign users to US$5,000 from $1,000, said PBOC deputy governor Zhang Qingsong. The maximum annual mobile payment limit...

https://www.seanews.com.tr/china-increases-transaction-limits-for-foreign-visitors/199885/

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon