Evergreen Marine Corp (
The 11-member Westbound Transpacific Stabilization Agreement is seeking to raise its rates by US$50 for a standard 40-foot container and US$40 for standard 20-foot boxes beginning Oct. 1, the group said in an e-mailed statement yesterday.
The shipping lines may make "further rate adjustments" as they try to recover costs from customers, the statement said.
Hapag-Lloyd, Japan's Nippon Yusen K.K. and other shipping
lines have reported smaller profits this year because record oil prices are increasing costs and an oversupply of vessels is causing freight rates to weaken.
"The rate increase is needed for these commodities to help recover rising costs," the group said in the statement.
"Shipments are heavy and at times require special chassis equipment, routing and stowage aboard the ship. Equipment often requires special cleaning and maintenance in Asia," it said.
In Singapore, the price of 380 Centistoke Bunker Fuel used by ships rose to a record US$365 per tonne on May 3, 27 percent more than the price of US$287.50 at the end of last year. Costs have also increased for shipping lines to move cargo on land because truckers and railways are charging more to reflect higher fuel prices.
China Shipping Group (
Other members include Kawasaki Kisen Kaisha Ltd, Nippon Yusen,
Orient Overseas Container Line Inc and Yang Ming Marine Corp (
Shares of Hanjin Shipping, South Korea's largest shipping line, rose 1.4 percent to 21,300 won in Seoul. Shares of Nippon Yusen, Japan's biggest, gained 0.3 percent to ?726 in Tokyo.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
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