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Zim Kingston vessel fire was caused by container collapse
A fire which broke out aboard the Zim Kingston was caused by a container collapse that damaged boxes containing dangerous cargo, a spokesperson for vessel owner Danaos Shipping confirmed today. The 4,253 teu vessel, on charter from the Greek owner, was at an...
APM Terminals places ZPMC order, establishes strategic alliance
APM Terminals and Shanghai Zhenhua Heavy Industries (ZPMC) signed a large equipment purchasing order and formed a strategic alliance to focus on automation. Katherine Si | Oct 25, 2021 To have more access to adequate, state-of-the-art automated...
Maersk makes changes to WCSA services to/from Northern Europe
Maersk announced major changes to its connecting services between the West Coast of South America (WCSA), the Caribbean and Central America to/from Northern Europe that will take effect from January 2022. Michele Labrut | Oct 25, 2021 This includes the closure of...
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
Port of Tanjung Pelepas inks deals for 11 ULCV capacity quay cranes
Port of Tanjung Pelepas SdnBhd (PTP), a joint venture between the MMC Group and APM Terminals in Malaysia, has signed an agreement with Shanghai Zhenhua Heavy Industries Co Ltd (ZPMC) for the purchase of five ultra large container vessel (ULCV) Quay Cranes. This...
Sudden container crunch sends ocean freight rates soaring, setting off global trade alarm bells
A perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates. The beginning of peak shipping season, coupled with the longer transits to avoid the Red Sea, and bad weather in...
Northport receives the largest ever container vessel to berth at its terminal
Northport (Malaysia) Bhd (“Northport”), a member of MMC Group, celebrated a historic milestone as it welcomed MV OOCL Japan on 20 May 2024, the largest ever container vessel to berth at its facilities. Owned by Orient Overseas Container Line (“OOCL”) Limited, MV OOCL...
Dry days coming with south-west monsoon, possible water shortages, says Zahid
PETALING JAYA: The incoming south-west monsoon is expected to bring back hot and dry weather with water shortages a possibility, says Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister and National Disaster Management Committee (Nadma) chairman said in a...
PM Anwar: Malaysia, Uzbekistan to transform joint committee on trade into joint commission
TASHKENT, May 17 — Malaysia and Uzbekistan have agreed to activate the work of the intergovernmental Joint Committee on Trade and transform the committee into the Intergovernmental Joint Commission. In a joint statement today, Prime Minister Datuk Seri Anwar Ibrahim...
Transport minister: Official HSR project discussions only after Cabinet approval
PUTRAJAYA, May 17 ― Any official discussion with Singapore on the Kuala Lumpur-Singapore High Speed Rail (HSR) will only be held after obtaining approval from the Cabinet, Transport Minister Anthony Loke said. He added that the working paper on the suggested project...
Insights into Malaysia’s Standing in the 2024 Emerging Asia Manufacturing Index
The Malaysian state of Selangor is positioning itself to be the gateway to business in Southeast Asia, as the region aims to become the fourth-largest economy by 2030. The Association of Southeast Asian Nations (Asean), which currently trails the economies of the US,...
Saifuddin Nasution: Home Ministry signs 14 contracts with local firms worth over RM2b
KUALA LUMPUR, May 8 — The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition & Conference 2024 and National Security (Natsec) Asia 2024. Home Minister Datuk Seri...
Iran is using Malaysian providers to move sanctioned oil
ran’s capacity to transport its oil is reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, a senior US Treasury official told Reuters on Tuesday. The US Treasury is scrutinising the financing...
Transport minister: Ship allegedly owned by Israeli firm has changed ownership to HK company
PUTRAJAYA, May 9 — Transport Minister Anthony Loke today said the ship claimed to be owned by an Israeli company while using the port in this country has actually changed ownership to another company based in Hong Kong. He insisted that his ministry had inspected and...
Miti: Semiconductor industry offers Malaysia chance for exponential growth
BATU KAWAN: The semiconductor industry presents Malaysia with a 'once-in-a-generation' opportunity for exponential economic growth and industry players are advised to capitalise on this billion-dollar sector. Deputy Investment, Trade and Industry Minister (MITI) Liew...
Maybank IB: Johor-Singapore SEZ has competitive advantage in attracting fresh FDI
KUALA LUMPUR, May 10 — The Johor-Singapore Special Economic Zone (SEZ) could be a formidable competitive advantage in attracting fresh foreign direct investment (FDI) from multinational companies (MNCs). This can be achieved by integrating Singapore’s global...
Rail route connects China, Laos, Thailand, Malaysia
(KPL/VNA)The first China - Laos - Thailand - Malaysia express freight train recently departed from Chengdu, the capital of China’s southwestern Sichuan province, marking a significant milestone in regional trade connectivity. The train, carrying 30 containers of LCD...
Seizing Malaysia’s economic momentum
The drastic depreciation of the Malaysian ringgit, comparable in magnitude to the 1998 Asian Financial Crisis, has spooked many and triggered debates on the nation’s economic performance. External headwinds such as persistent high inflation in the United States,...
Malaysia makes its stand on waste | #AsiaNewsNetwork
PORT KLANG (The Star) - Even Bangladesh is sending its contaminated plastic waste to Malaysia. The government will be sending 450 metric tonnes of contaminated plastic waste in 10 containers back to their countries of origin immediately. Besides the one container from...
Malaysian supplier bunkers containership with ISCC-certified biofuel
Tumpuan Megah supplied approximately 4,500 metric tonnes of ISCC EU-certified B24 marine biofuel to a containership operated by Danish container shipping giant Maersk. The bunkering operation took place at the Port of Tanjung Pelepas in the state of Johor on April 25,...
Product innovation drives sales of local plastic packaging
KUALA LUMPUR: The adoption of new product innovations is giving local plastic packaging manufacturers an edge over their global peers as they vie for market share amid a period of inventory restocking. Two new products - nano stretch film and mono film - are gaining...
Expert: Introduction of EPF Account 3 can help contributors in times of emergency
KUALA LUMPUR: The introduction of the Employee Provident Fund's (EPF) Account 3 or Flexible Account is seen as one of the institution's alternatives to meeting the emergency needs and funds of its contributors in tackling life's challenges before retiring. Bank...
DP World and Sabah Ports to expand East Malaysia terminal
Under the agreement, DP World will support efforts currently underway to increase SBCP’s container handling capacity from 500,000 teu to 1.25 million teu by 2025. Investments will also be made to optimise terminal workflows, accelerate digitalisation for greater...
Finance Ministry seeks logistics industry’s views on targeted diesel subsidies
KUALA LUMPUR, April 20 — Treasury secretary-general Datuk Johan Mahmood Merican held a discussion yesterday with the logistics industry on the implementation of the proposed targeted diesel subsidies. “This discussion was held to seek the views of associations and...