China Shipping Container Lines (CSCL) is ending its Mediterranean/US east coast service and withdrawing capacity from the Atlantic. One ship has already gone and four further vessels were due to be taken off the service from February, effectively withdrawing some 100,000 teu of annualised capacity. From March, CSCL will take slots on the Atlantic leg […]
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Taiwan shipping giant Evergreen is to flag out up to 30 container ships to the UK, and operate them under the London-based company Hatsu Marine. Some of the ships are being transferred from Taiwan registry. While the move is partly to cut costs, the deployment of UK flag ships will allow Evergreen to establish direct […]
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NOL sets up office in Shanghai
One of the world’s largest shipping group’s, the Singapore-controlled Neptune Orient Lines, has set up a regional office in Shanghai to oversee operations of its liner shipping fleet. The fleet operates under the name of APL and has emerged as one of the leading carriers involved in the China marketplace. To support the Asian region […]
Domestic and overseas telecoms companies operating in China will be required to pay a surtax to subsidise the improvement of telecoms services in the west of the country. “The State Council will soon issue policies relevant to the tax,” said Wang Lijian, a Ministry of Information Industry spokesman. According to another official at the ministry […]
Foreign investment will soon be allowed in existing profitable railway lines and in railway construction, said railway minister Fu Zhihuan quoted by China Daily. China’s accession to the WTO means that railway cargo joint ventures with minority foreign ownership are already allowed, and majority foreign ownership will be permitted from 2004. The cargo sector will […]