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Monthly Archives: August 2018

German Shipping Company Hapag-Lloyd Reports $80 Million Loss

 Chennai: Port Wings News Network :  German shipping company Hapag Lloyd said it accelerated cost cuts in the first half of 2018 to offset higher operating costs from fuel costs, charter rates and a slow recovery in freight rates. The Company said that they have implemented additional measures to recover …

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Container Terminal Utilisation Levels Set to Rise: DREWRY

Chennai: Port Wings News Network: While there may be clouds on the horizon in the form of tariff and trade war fears, economic fundamentals are likely to win-out in the long run, according to the Global Container Terminal Operators Annual Review and Forecast 2018 by global shipping consultancy Drewry. Against …

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Maersk, IBM Introduce TradeLens Blockchain Shipping Solution

Chennai: Port Wings News Network: In a follow up to their January announcement, A.P. Moller – Maersk (MAERSKb.CO) and IBM (NYSE: IBM) on 9 August announced the creation of TradeLens, jointly developed by the two companies to apply blockchain to the world’s global supply chain. TradeLens is the result of …

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PSA Makes Crimsonlogic to Embark On Next Growth Phase

Chennai: Port Wings News Network: Following its acquisition of shares from Singapore Telecommunications Limited and Civil Aviation Authority of Singapore earlier this year, PSA International Pte Ltd (“PSA”), an existing shareholder of CrimsonLogic Pte Ltd (“CrimsonLogic”), has taken majority control through an additional subscription of shares and share purchase from …

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