Newsletter – August 13, 2018

OCEAN FREIGHT UPDATES

Yang Ming the latest carrier to see its bottom line sink into the depths

source: theloadstar.co.uk

Taiwanese ocean carrier Yang Ming has become the latest container line to report a heavy loss in the second quarter of the year, posting a net deficit of $129m.

It means that all three members of THE Alliance vessel-sharing agreement have now posted negative results for the period. Read more here (login required).

Growth in reefer traffic outpacing dry boxes as global demand for perishables rises

source: theloadstar.co.uk

Growth of reefer traffic is outpacing that of the overall container trade, thanks to growing worldwide demand for perishables and a modal shift from specialised reefer vessels.

Drewry director and head of research products Martin Dixon told The Loadstar he expected the trend to continue, enabling reefer container rates to continue outperforming dry rates. Read more here (login required)

Battle with rising fuel prices pushes Hapag-Lloyd deeper into the red

source: theloadstar.co.uk

Hapag-Lloyd lost $80m in the second quarter, taking its net loss after six months to $122m. It blamed what it called a “disappointing” result on “intense competition” and “higher operational costs”. Read more here (login required).

TRUCKING & RAIL FREIGHT UPDATES

Traffic jam in Dhaka eats up 3.2m working hrs everyday: WB

source: thedailystar.net

Many residents in Dhaka often lack access to basic services and in the last 10 years, average traffic speed has dropped from 21 km to 7 km (hour), only slightly above the average walking speed, said a new World Bank (WB) analysis.

“Congestion in Dhaka eats up 3.2 million working hours per day,” said the analysis shared at a high-level international conference here today. Read more here.