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ZIM buys seven secondhand boxships for $320m
ZIM has acquired seven containerships of between 12 and 14 years old for $320m since the start of October. Marcus Hand | Oct 22, 2021 The vessels purchased are five traditional panamax sized 4,250 teu boxships and two 1,100 teu. The prices of secondhand...
Exporters snap-up capacity as CargoGulf targets stranded freight for Asia
Correction: The Loadstar wishes to make some corrections to the article below that appeared in Tuesday’s edition: Contrary to the article, The Loadstar wishes to make it clear that CargoGulf is not the operator of the panamax vessel Guenther...
Amazon, IKEA and Unilver among shippers make 2040 zero carbon shipping pledge
Amazon, IKEA, and Unilever, are among nine major shippers that have united in a new coalition with an ambition for zero carbon shipping by 2040. Marcus Hand | Oct 20, 2021 The Cargo Owners for Zero Emission Vessels (coZEV) coalition brings together Amazon, Brooks...
President Biden challenges private sector to tackle supply chain logjams
US president Joe Biden has hailed a new 24-hour working system, which he says will help to shift bottlenecks in US supply chains bringing products to market for Christmas. But some industry observers do not share his optimism, believing the shift cannot be made so...
Missing port calls improves liner scheduling, but still delays final cargo delivery
Asia-North Europe ships are taking up to 54 extra days to complete round-trip voyages, due to chronic port congestion at their European hub ports. According to an Alphaliner survey, based on current schedule delays on the services, at least 44 extra ships of...
‘It’s a crazy market out there’ – shipping contract rates jump by 90%
With container spot rates from Asia appearing to have reached a plateau as China begins its Golden Week holiday, the attention has turned to contract rate inflation which, according to Xeneta’s XSI index, is showing a 91% year-on-year gain. The September edition of...
Complaints spark US FMC probe into shipping line bill of lading issues
Maritime regulator the Federal Maritime Commission (FMC) yesterday launched a probe into claims that shipping lines serving the US “may be attempting to hold companies financially responsible for transport services they did not contract for and may not legally be...
Local News
Malaysia and Indonesia Are Links in Iran’s Drone Supply Chain
Companies based in the two countries are part of an “illicit procurement network” that has been targeted by U.S. sanctions. In the early hours of December 16, 2023, a swarm of drones headed toward the USS Carney, a warship patrolling the southern Red Sea. Crew...
Onion prices skyrocket, MEP increased to $1200/tonne
If there is one vegetable that is religiously added to all cuisines across south Asia, it is onions. The staple vegetable holds an extremely important place in the common man’s life. Onions are grown on around 136,000 hectares of land, with the 2020 figures...
Johor state govt proposes Iskandar Malaysia be designated special economic zone with Singapore
KUALA LUMPUR - Johor’s state government has proposed that its business hub Iskandar Malaysia be designated as the special economic zone being planned between Singapore and Malaysia, The Straits Times has learnt. It is not known, though, if Malaysia’s federal...
Amid inflation, Malaysians worry about plan to drop food subsidies for all
The Malaysian government’s plan to remove subsidies this year on food and other basic necessities for all and target them only for needy citizens has many in the low and lower-middle income groups worried. That’s because food prices have been high since the Ukraine...
Northport marks record-breaking feat in conventional cargo segment
PORT KLANG: Northport (Malaysia) Bhd, a member of MMC Group, set a new milestone by handling 11,405,312 freight weight tonnes (fwt) of conventional cargo in 2023. This record-breaking achievement surpassed its previous high of 11,115,670 fwt recorded in 2022....
PPLN Kuala Lumpur receives election logistics ahead of voting day
Kuala Lumpur (ANTARA) - The Overseas Election Committee (PPLN) in Kuala Lumpur, Malaysia, confirmed to have received election logistics for the upcoming parliamentary and presidential elections. Speaking in Kuala Lumpur on Wednesday, Puji Sumarsono, a member of PPLN...
Tera Projects with shipment for the oil & gas industry
Tera Projects & Shipping (Project Cargo Network members in Malaysia) were engaged by one of their esteemed clients to handle the export of a 'stinger section' from Johor to Abu Dhabi, UAE. The massive unit measures 49.0 x 13.3 x 10.5m with a weight of 430mt. The...
New Kota Kinabalu International Airport terminal only a short-term solution
KOTA KINABALU: Constructing a new terminal at the Kota Kinabalu International Airport (KKIA) is just a short-term solution, said senior aviation consultant Mohd Faizal Malik.He said the offer from The Federal Government, which is aimed at catering to KKIA’s growing...
Marine & General sells vessel for RM27.2mil
KUALA LUMPUR: Marine & General Bhd's indirect wholly-owned subsidiary, TKH Marine (L) Ltd, today disposed of its vessel, JM Sutera 7, for US$5.8 million (RM27.2 million) cash to an external party, Narsimhaa Shipping Inc, Liberia, on a willing buyer and willing...
New LVG tax: Buy now or later?
FOR most of us, the start of a new year means new resolutions and new beginnings. This time round, Jan 1 2024 will also mark the start of the imposition of the sales tax on low-value goods (LVG tax) in Malaysia. The LVG tax was initially announced in Budget 2022 and...
Malaysia Anticipates Start of Fresh Durian Exports to China in 2024
According to Malaysia’s Deputy Minister of Agriculture and Food Security, Chan Foong Hin, exports of fresh durians to China will commence next year. He stated that the beginning of exports would coincide with the 50th anniversary of diplomatic relations between China...
Resorts ride out rough weather and dive into repairs
RESORT and chalet owners on Mersing Island have implemented a three-month temporary shutdown during the monsoon season to repair and improve the amenities at their properties. Lanting Beach Resort owner Sallehuddin Latif said he had allocated RM25,000 to repair the...
Vehicle maintenance may cost more from next year, when service tax increases from 6% to 8% on March 1
During Budget 2024, it was announced that service tax will be increased from the 6% rate at present to 8% next year. This will start from March 1, as indicated by the customs department recently. Exclusions to the new rate include that for food and beverage,...
Consumer spending likely to be affected in 2024
PETALING JAYA: Sustained high inflation, coupled with expected hikes in utility tariffs as well as the impending subsidy rationalisation may result in subdued consumer spending in 2024. Kenanga Research said middle-income earners could be most affected, while the...
Johor’s crowning glory
THERE'S a buzz in Johor Baru these days. After all, Sultan Ibrahim ibni Sultan Iskandar is set to assume the throne as the new king next month. His Majesty will be determined to set things right for Malaysia and certainly, his beloved state of Johor too. No other...
New 10pc tax: What Malaysians need to know when buying products online below RM500 from overseas.
KUALA LUMPUR, Dec 17 — How much more will you need to pay the next time you go shopping online and buy items priced under RM500, once Malaysia starts imposing a new 10 per cent sales tax on such goods delivered from abroad next year? Here’s everything you need to know...
Malaysia must strengthen ports, logistics services to maintain competitive edge, says Transport Minister
PUTRAJAYA: There must be continuous efforts to strengthen Malaysia’s competitive edge in ports and logistics services to attract more trade flow into the country, says Anthony Loke. The Transport Minister said while the country should be mindful of the competition,...
Signs of recovery in the transportation sector
PETALING JAYA: Emerging signs of recovery in China, a further pick-up in tourism activity and a stronger momentum in trade has led RHB Research to upgrade its call on the transportation sector to “overweight”. The research house said in a note that signs of recovery...
Malaysian ports commence future-proof strategies
Consumer demand shock, an increase in e-commerce trade, a shift in trade direction, crude oil price fluctuation, freight rates, and port congestion are some of the issues that ports confront worldwide. Universiti Malaysia Terengganu adjunct professor and distinguished...
‘Time to designate Labuan as full-fledged offshore financial centre’
ABUAN: A group of industry experts and stakeholders are calling for Labuan Island to be designated as a full-fledged offshore financial center and for clear policies for offshore enterprises to be established, aiming to attract international investors with tax...