Evergreen Group (長榮集團), Taiwan’s largest shipping company, yesterday said chairman Chang Yung-fa (張榮發) had been named “Newsmaker of the Year” by Lloyd’s List.
Lloyd’s List is a London-based international marine publication which provides information and analysis on the global shipping industry. It was scheduled to hold an awards ceremony in Singapore last night to announce this year’s 17 Lloyd’s List Asia Awards.
Evergreen said the award showed recognition for the impact that Chang had on the development of the global shipping industry and of world trade over the past 12 months.
A recent interview with Chang by CNBC’s Managing Asia showed Chang was one of the most impressive people in the shipping industry, Evergreen said.
In the interview, Chang talked about his efforts to establish Evergreen Marine Corp (長榮海運) and then expand to the airline and hotel businesses, the group said.
In the previous years when the shipping industry was booming, Chang defied the trend of other shippers to order many large container ships. He believed such expansion would only raise operating costs and impact the bottom line, the group said.
As a result, Evergreen, which had very litte debt, has encountered less financial pressure than other firms, the group said.
In 2006, Chang was the first Asian to be awarded the “Lifetime Achievement Award” by Lloyd’s List.
Evergreen Group encompasses shipping, transportation and associated service companies. It was formed in 1975 from the diversification of the original Evergreen Marine Corp.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS