Author: Waldo Hoyos

Qatar Ban Results in Suspended Bookings

Steamship lines are declining to accept any cargo bookings to and from Qatar, after the Persian Gulf state leapt into a diplomatic row with some of its Arab neighbors that have terminated land, sea, and air ties to the country. Carriers did not obtain any notice in regards to the shut down, and are now scrambling to find ways to mitigate the impact of a complete break in transport ties between Qatar and Saudi Arabia, the United Arab Emirates (UAE), Bahrain, Egypt, and the Maldives. Maersk Line stated it was affected by Arab countries terminating diplomatic ties with Qatar,...

Read More

Yang Ming Lines Reports Losses Doubled in 2016

Yang Ming Lines, a Taiwanese-origin ocean carrier, almost doubled its losses between 2015 and 2016, reporting a $493.6 million loss last year on reduced revenue due to frailer pricing. The statement of deep losses comes as the Taiwanese government burdens the carrier to reform or face a significant disturbance. Yang Ming Lines is not the only ocean carrier facing losses in 2016, after Maersk Line, CMA-CGM, Hapag Lloyd, and OOCL reported a total loss of $1 billion. The company’s revenue fell 9.5 percent year-over-year in 2016 to $3.8 billion. Turnover was also insufficient in covering Yang Ming’s operating expenditures of...

Read More

Archives

Send this to a friend