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August 7, 2009
Asian shipping lines suffer heavy blow
...International, parent of the OOCL shipping line, announced a $232m net loss for the first half, while Korea’s Hanjin Shipping incurred a $516m net loss. The...Korean government agency set up to help shipping lines. Hanjin operates the world’s 10th-largest... By Justine Lau in Hong Kong and Robert Wright in London
November 25, 2008
Shipping groups make major capacity cuts
The world’s two largest container shipping alliances on Tuesday announced major...announcements mark an unprecedented level of co-operation between lines as they struggle...Kawasaki Kisen Kaisha and Korea’s Hanjin – said it was cutting capacity on...the arrangement. Unlike most forms of shipping, container lines run scheduled...containers. Philip Damas, director of liner shipping at London-based Drewry Shipping Consultants... By Robert Wright in London
November 6, 2009
Zim bail-out approved by narrow vote
Shareholders in the owner of one of the world’s fastest-growing shipping lines came within a handful of votes of rejecting a bail-out plan for the company, it emerged on Thursday, when voting...leased ships in return for reduced charter rates and fresh shareholder equity. Korea’s two main container lines – Hanjin and Hyundai Merchant Marine – have raised funds by selling ships to a specially created state shipowning fund. Zim will... By Robert Wright in London
June 4, 2009
New data send Asian markets lower
...Financial rising 1.3 per cent to Y622. Shipping stocks declined in spite of the Baltic...06 in Hong Kong and Pacific Basin Shipping losing 5.9 per cent to HK$5.78...per cent to T$18.65 and in Korea, Hanjin Shipping fell 7.4 per cent to Won19,550... By Lindsay Whipp in Tokyo and Xi Chen in Hong Kong
September 23, 2009
Asian ship lines face threat of seizure
...companies that provide scheduled shipping services, nearly all of which are...follows first-half losses among Asian shipping companies. Hong Kong’s OOCL last...revenue and an operating loss of $197m. Hanjin Shipping, of Korea, incurred a net loss of... By Kevin Brown in Singapore
June 3, 2009
Asian stocks rise on recovery hopes
...25m, due to the delay of one of its commercial projects. Shipping companies and related stocks extended their gains across the...rose 10.1 per cent to HK$36.10. South Korea’s Hanjin Shipping gained 1 per cent to Won21,100 and Hyundai Merchant Marine... By Lindsay Whipp in Tokyo
April 7, 2009
NOL chief says order glut will extend woes for container lines
...Containerisation International’s Global Liner Shipping Conference last week. The conference...the collapsing demand for container shipping and the looming oversupply of ships...would collapse. London-based Drewry Shipping Consultants has forecast container lines...6 per cent expansion, Korea’s Hanjin 71.7 per cent. Alphaliner’s figures...
July 7, 2009
Korean state fund to buy ships
Some of Korea’s best-known shipping companies are offering to sell significant...when conditions improve. Reports said Hanjin Shipping, a leading operator of container ships...according to the reports. Container shipping, the heart of both companies’ businesses... By Song Jung-a in Seoul and Robert Wright in London
July 8, 2009
Container lines to raise Asia-US rates
...executive for South Korea’s Hanjin Shipping, blamed the falling rates on “panic...container lines including APL, China Shipping Container, CMA-CGM, Cosco Container Lines, Evergreen, Hanjin Shipping and Hapag-Lloyd. By John Burton in Singapore
May 5, 2008
Fredriksen’s challenge to Tui
...Fredriksen, one of the most successful shipping entrepreneurs, is partly simple and partly...almost certainly be sold to another shipping line – probably Singapore’s Neptune...become a focused, standalone listed shipping company like those he has founded. The proceeds...Neptune Orient Lines and Korea’s Hanjin to be philosophical. “We will either... By Robert Wright