This article explains common terms in international shipping, specifically CY/FO, CY/CY, and CY/LO. By clarifying these terms, exporters and importers can better understand the allocation of costs, allowing for more effective management of expenses and risks. Mastering these terms will enhance trading efficiency and financial management capabilities.
The world's largest container ship, HMM GDANSK, embarked on its maiden voyage to Hong Kong on July 12, showcasing its exceptional cargo capacity and smart technology. This event highlights Hong Kong's crucial position in the global shipping industry and instills confidence for future development.
The Ministry of Transport has issued an announcement to strengthen macro-control over the transportation of bulk liquid dangerous goods by vessels across coastal provinces. The new regulations aim to optimize market entry management and introduce new capacity policies, promoting transportation safety and green development while enhancing the market's standardization and efficiency.
The trade agreement between the EU and the US will impose a 15% tariff on 70% of imported goods. While this eases trade friction, shipping companies are hoping for more specific details to ensure smooth execution and a stable supply chain.
This article provides an in-depth overview of the working principles, advantages, and broad applications of vessel tracking platforms. It explores how this technology enhances the efficiency and safety of modern shipping, particularly highlighting the unique features and services of the Tomorrow's Data Navigation platform.
The merger between global shipping giants China COSCO Shipping Group and China Shipping is gaining approval and may reshape the shipping market landscape. Meanwhile, France's CMA CGM is planning to acquire Neptune Orient Lines, seeking regulatory approval. As the dynamics among the four major shipping alliances change, market competition is expected to intensify, especially on Asia-Europe routes. Overall, the shipping industry remains in a downturn, and the outlook is not optimistic.
South Korea has established a $1.2 billion shipping fund to support the recovery of its shipping companies, emphasizing the need to control debt ratios. The relevant legislation must be approved by the National Assembly.
COSCO Shipping and China Shipping are expected to receive merger approval by January, officially forming "China Ocean Shipping Group Co., Ltd." This merger will create the world's fourth-largest container shipping company. The complexity of the merger involves integrating overlapping departments and maintaining employee stability, with a total deal value potentially exceeding $20 billion. This merger will reshape the shipping markets of China and the world.
Welly International Enterprise provides LCL shipping services from Taipei to Guangzhou, specializing in cross-strait logistics. We offer cost-effective and efficient logistics solutions for businesses, leveraging competitive pricing, a professional team, quality service, and robust security. Even without import/export licenses, you can easily transport goods. Our focus is on providing a seamless and reliable shipping experience between Taiwan and mainland China, ensuring your cargo arrives safely and on time. Contact us for a quote today!
Pacific Shipping Company reported a net profit of $30.8 million for the first half of 2023, a significant improvement from last year's losses. The company noted that the recovery of the bulk carrier market and high operational load factors contributed to the positive performance. Looking ahead, the company remains optimistic about the recovery of the shipping market and plans to continue exploring investment opportunities in second-hand vessels. Additionally, in response to the 2020 low-sulfur regulations, the company is assessing compliance strategies.
