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Yang Ming Opens Subsidiary in Thailand
Taiwanese shipping company Yang Ming Marine Transport Corporation is establishing a subsidiary in Thailand — Yang Ming Line (Thailand).
As informed, the new company will start to provide services on January 1, 2018. Derek Chen has been appointed as its president.
Yang Ming said it has upgraded vessel size for Southeast Asia services in order to optimize its service network. The inauguration of Yang Ming Line (Thailand) may provide “a more comprehensive and intensive logistics network by integrating regional business,” the shipping company explained.
Yang Ming currently offers several weekly direct-calling options at the country’s major ports. It also provides shuttle services between Laem Chabang and Bangkok, Singapore and Kaohsiung as transshipment hubs.
Earlier this month, the company revealed plans to expand throughout Asia. Yang Ming said the plans are consistent with Taiwan’s New Southbound Policy, a proposal of the
government of Taiwan to develop and strengthen its role and ties to the economies in Southeast Asia, South Asia and Australia.
Thailand is strategically located in the middle of Southeast Asia and its economy has been growing steadily over the years. The country is expected to see a more rapid expansion of the market in the near future.
Shipping Firms Strengthen Fight against Cyber Crime
During the last year, the majority of shipping companies has been exposed to cyber attacks and has intensified the fight against cyber crime, according to a survey in Danish Shipping’s CEO Panel.
The survey shows that cyber crime has become more important on the shipping companies’ agenda. Out of the 26 senior executives who took part in the survey, 42 percent indicated that they are “very worried or extremely worried that their company will be attacked or that their data will be lost in the coming 12 months.”
Danish Shipping said that the concern is based on a concrete threat as around 69 percent of the companies have been subject to cyber crime over the last year, according to the responses to the panel.
“Cyber threats must certainly be taken very seriously,” Maria Skipper Schwenn, Executive Director in Danish Shipping, said, adding that it is positive that 69 percent of the companies have increased their IT security budgets the past year.
Hyundai Merchant Marine plans to double vessel capacity by 2022
HYUNDAI Merchant Marine (HMM) plans to double vessel capacity by launching mega ships by 2022, CEO Yoo Chang-Keun told employees in a New Year's address.
HMM is the latest of several carriers to announce plans for increased capacity and mega containerships. Maersk Line, CMA CGM, MSC and MOL have already put vessels of 22,000 TEU or more into service.
Mr Yoo said HMM hit the four million TEU mark in 2017 from three million TEU lifted in 2016, reported American Shipper.
Industry experts have predicted protectionism and instability, said Mr Yoo, and in order to meet capacity goals, he issued several directives, including the launch of competitive products in the east-west trade lanes with expanded coverage in Asia via the K2 cooperation.
The K2 consortium was formed earlier in 2017 with two smaller South Korean carriers - Heung-A Shipping and Sinokor Merchant Marine - for moving cargo within Asia.
In 2017, HMM ordered two 11,000-TEU vessels and announced plans to issue rights to raise $620 million in October to add ships to its fleet and buy stakes in shipping terminals in North America and elsewhere.
Vinafreight (VNF) received the transfer of 10 million shares of Mipec Port
Vinafreight Joint Stock Co (VNF - HNX) has approved the transfer of 10 million shares, representing 20% of charter capital at Mipec Port JSC.
Accordingly, Vinafreight held Mr. Nguyen Bich Lan, Chairman and General Director of the Company to represent the above mentioned shares and exercise the rights and obligations of the Company at mipec port.
Previously, on December 22, Board of Transportation Foreign Trade Transportation (VNT - HNX) has also unanimously approved the policy of selling 12.5 million shares, equivalent to 25% of charter capital at Mipec Port.
Vinafreight is currently holding 1.32 million shares of VNT, 15.47% and 120.890 shares of Vinalink Logistics JSC (VNL), at 1.34%.
On December 20th, VNF paid the first dividend of 1/2017 in cash to existing shareholders at the rate of 10%, each share will receive 1,000 dong. Also in December, the company has
completed the list of shareholders to get written opinions through the plan to issue shares to existing shareholders.
After staying unchanged yesterday (27/12), VNF was quite volatile today although liquidity continued to drip. Specifically, VNF opened down nearly 10% but then recovered and regained its 55,000 dong / share correlation with trading volume reached only 200 units.
Source: World Maritime News
