COSCO Group reports strong financial results in 2021

Chinese shipping giant COSCO Group recently announced its 2021 financial report. Profits attributable to equity holders totaled US$14 billion, a year-on-year increase of US$12.51 billion, or nearly 800%.During the same period, COSCO Group's earnings before interest and taxes (EBIT) amounted ...

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Shanghai Port's container throughput hits record high in January

In January this year, container throughput in Shanghai, the world's busiest container port, exceeded 4.35 million TEUs, a new monthly high.The container throughput of Yangshan Phase III and Waigaoqiao Phase IV reached 760,000 teu and 401,000 teu respectively, both hitting a new monthly high ...

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Russia has introduced zero duties on aluminum alloys

On October 28, Russian government approved the abolition of export duties on aluminum alloys. The decision comes into force in 30 days, according to the decree of the Cabinet.The decision will help "strengthen the export potential of manufacturers and maintain employment at large enterprises," the g...

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German companies plan to increase investment in China

The German "Business Daily" quoted a report on the 3rd of the latest survey results that most German companies in China plan to increase investment there.According to the reports, a recent survey by the Federation of German Overseas Chambers of Commerce China shows that 72% of German companies in Ch...

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The world's largest container maker: sales in the first 3 reached 220%

The volume and price of CIMC's container business have risen, and the performance has achieved a substantial increase.A few days ago, CIMC, the world's largest container manufacturer, released its 2021 third quarter performance report.The report shows that operating income in the fir...

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Suez Canal transit cost to rise by 6%

The Suez Canal Authority next year will raise its tolls by 6% for all ships except LNG carriers and cruise ships. This is due to the fact that the tourism sector has been hit hard by the pandemic and it's this sector that has the greatest losses. The new transit fees will take effect from Fe...

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Fesco has expanded its fleet with 9,000 new containers

The total number of TEUs in the fleet of the FESCO transport group exceeded 100 thousand units. This happened thanks to the purchase of 9 thousand new containers.To date, four thousand new containers have already been delivered to the Chinese city of Dalian, where they were registered with FESCO. Th...

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Ocean Network Express launches new service

In addition to the service that ensures economic relations between Russia and Korea, a new express between the countries is being launched.Ocean Network Express (ONE) plans to launch its first shipping line on November 3. Departure point - Busan, destination - Vostochny.The Concerto containership wi...

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