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...A version of this article was first published by the Nikkei Asian Review on January 22, 2020. ©2020 Nikkei Inc. All rights reserved....
...Weak earnings at such companies, including Neptune Orient Lines, a shipping company, and Singapore Airlines, contributed to a fall in Temasek’s net profit last year to S$10.7bn, from S$12.7bn....
...Mr Tsao’s father was instrumental in setting up the national shipping lines of Malaysia and Thailand....
...The A6 Alliance will join the Grand Alliance – whose members are Germany’s Hapag-Lloyd, Japan’s NYK Line and Hong Kong’s OOCL – and the New World Alliance – made up of Singapore’s Neptune Orient Lines, Korea...
...Maersk Line, the largest container shipping line, made a $322m net loss in the third quarter of the year....
...Sydney’s S&P/ASX 200 ticked 0.2 per cent higher to 4,605.04, helped by stronger resource stocks in line with robust commodities markets....
...Neptune Orient Lines, the Singapore-based shipping group, also blamed fuel costs for a quarterly loss of $10m....
...But some other shipping lines – particularly Singapore’s Neptune Orient Lines and Taiwan’s Evergreen Marine – have been sceptical that it would be possible to find enough cargo to fill such ships profitably...
...“At this moment we have plenty of inventory, but if the Japanese side cannot export for the next two months we will have to stop some lines of production,” Mr Ota said....
...An introductory sale of 45 per cent for $14bn, say, would value AIA at $31.1bn, equivalent to 1.5 times the unit’s disclosed embedded value – not absurdly out of line with Korea’s Samsung Life, which has...
...Nippon Yusen rose 3.2 per cent to Y322 and Mitsui OSK Lines jumped 5 per cent to Y630....
...Singapore closed at a 16-month high with Neptune Orient Lines gaining 2.6 per cent to S$1.57 as the Baltic Dry index, a measure of freight shipping costs, halted an eight-day run....
...The Straits Times index in Singapore fell 0.5 per cent to 2,726.24 while the Weighted index in Taipei finished flat at 7,670.93....
...One of Hanjin’s biggest customers is French shipping line CMA CGM, which this week said it would try to renegotiate orders as it began an emergency restructuring....
...The TSA represents the leading transpacific container lines including APL, China Shipping Container, CMA-CGM, Cosco Container Lines, Evergreen, Hanjin Shipping and Hapag-Lloyd....
...In Taiwan, Evergreen Marine lost 7 per cent to T$18.65 and in Korea, Hanjin Shipping fell 7.4 per cent to Won19,550....
...The deal would create the world’s third-largest container shipping line. But the Singapore-based container carrier will take on considerable debt, which is likely to displease minority shareholders....
...If Maersk Line had the same cost structure as APL – the container line owned by Singapore’s Neptune Orient Lines (NOL) – filled its ships as fully and carried the same types of cargo, it would be two-and-a-half...
...ICICI’s managing director, K V Kamath, called the rumours “baseless and malicious”....
...Tokyo Electric, the country’s biggest power producer, gained 1 per cent to Y2,605 as the cost of crude dropped, and the fall also helped shipping lines....
...A merger of Tui’s Hapag-Lloyd unit and Neptune Orient Lines, 68% owned by Temasek, would create a global force in container shipping to rival the likes of Denmark’s Maersk Line....
...A merger of Tui’s Hapag-Lloyd unit and Neptune Orient Lines, 68 per cent owned by Temasek, would create a global force in container shipping to rival the likes of Denmark’s Maersk Line....
...US light sweet crude for delivery in May was 46 cents lower by late afternoon in Singapore at $105.16 a barrel....
...Australia, Hong Kong, mainland China and South Korea were all down....
...China COSCO, the country’s biggest shipping line by market value, surged 8 per cent to HK$22.40 after saying late on Tuesday that profits doubled in 2007 to Rmb19.5bn....
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