Taiwan shipping companies are expected to reap the benefits of a decision to raise fuel surcharges on several Asia-Europe routes.
The Far East Freight Conference (FEFC), an arbiter for ocean freights, decided to increase fuel surcharges in the wake of the higher international price of oil.
According to Yangming Marine Transport (
The surcharge rose for the South Africa - South America route was implemented on October 18.
But while the surcharges for many routes are set to rise, they are expected to remain unchanged for US- Pacific routes.
An official at the Evergreen Marine Corp in Taiwan (
Consequently, except for US-Pacific cargo, "The rise will be introduced by all ports around the world and applied to both import and export cargoes," said the executive from Yangming Marine.
Taiwan shipping companies are expected to benefit from the rise in the fuel surcharge as it will reduce their costs.
The executive at Yangming Marine said that the cost of fuel amounted to 5.7 percent of total operating costs at the end of August, up from five percent earlier this year.
Therefore, he said, the rise is expected to boost the company's profitability, though he was unable to divulge by how much.
He also said clients had reacted quite positively to the news of the upcoming rise in the fuel surcharge, as the scale of the rise is not "unbearable."
He added, though, that any subsequent reaction from clients will not be seen in the short term.
Taiwan will prioritize the development of silicon photonics by taking advantage of its strength in the semiconductor industry to build another shield to protect the local economy, National Development Council (NDC) Minister Paul Liu (劉鏡清) said yesterday. Speaking at a meeting of the legislature’s Economics Committee, Liu said Taiwan already has the artificial intelligence (AI) industry as a shield, after the semiconductor industry, to safeguard the country, and is looking at new unique fields to build more economic shields. While Taiwan will further strengthen its existing shields, over the longer term, the country is determined to focus on such potential segments as
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS