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Global News
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 is next best bet – Country can position itself as viable alternative to S’pore
PETALING JAYA: With some Japanese multinational corporations (MNCs) looking beyond Singapore to base their regional headquarters due to the rising cost there, Malaysia has what it takes to position itself as a viable destination, say economists. Sunway University...
Escalating tension in Middle East could result in supply chain disruption, higher insurance premiums for shipping, say Malaysia industry associations.
KUALA LUMPUR, April 13 — Escalated tension in the Middle East with the latest Israel-linked container ship seized by Iran’s Islamic Revolutionary Guard Corps (IRGC) earlier today could result in supply chain disruption and higher insurance premiums, said shipping...
Malaysia’s Sales and Service Tax Increase: What Industries are Impacted?
The Malaysian government officially increased the sales and services tax (SST) rate from six percent to eight percent, effective from March 1, 2024, across several sectors such as finance and leisure. Finance Minister Datuk Seri Hamzah Azizan stated that this was part...
Port Of Tanjung Pelepas Adds Five ULCV Quay Cranes from Shanghai Zhenhua Heavy Industries
Port of Tanjung Pelepas SdnBhd (PTP), a joint venture between the MMC Group and APM Terminals, announced today a recent signing of an agreement with Shanghai Zhenhua Heavy Industries Co. Ltd (ZPMC) for the purchase of five (5) Ultra Large Container Vessel (ULCV) Quay...
Global Trade Compliance: How to Play by the RulesGlobal air cargo demand increases 11.9% to 19.7bil CTKs in Feb – IATA
KUALA LUMPUR: The global air cargo industry registered a total of 19.7 billion cargo tonne-kilometres (CTKs) in February 2024, representing an increase of 11.9 per cent year-on-year (y-o-y), according to the International Air Transport Association (IATA). The...
Kenanga raises Bintulu Port profit forecast for FY2025 on ‘stronger prospects’ for tariff hike
KUALA LUMPUR, April 5 ― Kenanga Investment Bank Bhd (Kenanga IB) has raised its financial year 2025 (FY2025) net profit forecast for Bintulu Port Holdings Bhd by 14 per cent on “stronger prospects” of a hike in tariffs for the port. It also lifted the port operator’s...
Transport minister: Govt drawing up strategy to enhance competitiveness of country’s ports
KUALA LUMPUR, March 27 — The government has drawn up short and long-term strategies to strengthen the competitiveness of the country’s main ports, namely Port Klang and Port of Tanjung Pelepas. Transport Minister Anthony Loke said the strategy covers aspects of...
Service tax exemption for logistics sector, maintenance services
KUALA LUMPUR: The Finance Ministry has refined the scope of Service Tax to benefit the logistics sector and maintenance services, offering service tax exemptions for both. The ministry said the objective was to alleviate the direct impact on the rakyat’s living cost...
Logistics, a magic bullet for sustainable trade?
B ATTLES are won with tactics. Wars are won with logistics, Tesla chief executive officer Elon Musk said. Indeed, improving performance of logistics helps organisations and economies further engage in local and international trade. This makes logistics a powerful...
MMAG banking on aviation arm to boost competitive edge in logistics industry.
KUALA LUMPUR: MMAG Holdings Bhd (MMAG) is banking on its aviation arm, MMAG Aviation Consortium Sdn Bhd (MAC), to unlock its next growth phase and play a key role in unleashing Malaysia’s potential as a regional air cargo hub. MMAG said this followed the...
Transport minister: Malaysia open to extending China-led rail project to Thai border
KUALA LUMPUR, March 28 ― Malaysia's government has said it would consider extending a US$10 billion (RM47.3 billion) China-led rail project to its border with Thailand to boost economic ties between the Southeast Asian neighbours. Part of China's Belt and Road...
Senator: Govt should balance assistance between B40, M40 groups
KUALA LUMPUR (March 20): The government has been urged to balance assistance between the B40 and M40 groups in helping them face the current economic challenges. Senator Datuk Lim Pay Hen said the action was necessary as the M40 group was the most affected by the...
Asia feels the pinch of growing ‘food chokepoints’
In recent years, global food security has suffered from overlapping crises caused by conflicts, geopolitical tensions, climate change, and the Covid-19 pandemic, resulting in severe food supply disruptions. These disruptions have been accentuated by several “food...
Foreign investments worth RM281.5b approved in 2022-2023 to create 98,725 jobs in Malaysia, says deputy minister
KUALA LUMPUR, March 20 — A total of 898 foreign investment projects valued at RM281.5 billion have been approved in the manufacturing and services sectors from 2022 to 2023, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong. He said the approved...
Call made on Malaysia, Japan govts to reject carbon capture, storage
MIRI (March 21): Sahabat Alam Malaysia (SAM) and Friends of the Earth (FoE) Japan had called on the Malaysian and Japanese governments to reject Carbon Capture and Storage (CCS). In a joint statement, they said this technology only delays real climate action and the...
New service tax increase is rational, says analyst
PETALING JAYA: On March 1, Malaysia’s service tax rose from 6% to 8%, sparking concerns about price increases during the 2024/2025 school term and Ramadan.The Madani government, led by Prime Minister Anwar Ibrahim, assured that essential items like food, beverages,...
Johor-Singapore Special Economic Zone deal set for year-end signing
KUALA LUMPUR, MALAYSIA: The Ministry of Economy of Malaysia announced that the joint agreement for the Johor-Singapore Special Economic Zone (JS–SEZ) is anticipated to be finalized by year-end. According to a report from Malaysia’s state media Bernama, the agreement...
Loke: Contractors need not curry favour with ministers under this govt, just required to get job done
KUALA LUMPUR, March 16 — Transport Minister Anthony Loke has vowed that contractors do not need to cultivate a relationship with Cabinet members to be awarded contracts. The DAP secretary-general said it is enough for those awarded contracts to carry out their...
Ports kick off 2024 on a good note
KUALA LUMPUR: The ports segment started the year on a positive note as the export volume index rose five per cent to 156.5 points in January 2024 from 148.5 points in January 2023, said AmInvestment Bank Bhd. In a note, the research house has maintained its overweight...
Expert says efforts to enhance Malaysia-China ties the right move
Business Expert says efforts to enhance Malaysia-China ties the right move Hayatun Razak 18-03- 2024 07:15 AM From left: Loh, Lim and Hairil Yahri. PETALING JAYA: Prime Minister Datuk Seri Anwar Ibrahim’s administration has set its sights rightly on furthering...