The Japanese shipping group’s third-party logistics arm MOL Logistics said on 17 May that it has entered a tie-up with Omani logistics firm Al Madina Logistics Services.
The carrier becomes the latest container line to report a loss, with Hapag-Lloyd, Yang Ming, and Hyundai Merchant Marine also reporting negative results for the latest quarter.
Digitalisation a key focus going forward, says group executive officer Tanya Saadé Zeenny.
Hyundai Merchant Marine is providing employee incentives amounting to 3% to lift staff morale following heavy cutbacks.
The slowdown has brought the spectacular rise in vessel prices – up by about 60% year-on-year in some size and age classes – to a halt in some corners of the market.
Although much of the UASC integration is already completed, the benefits were not enough for Hapag-Lloyd to maintain profitability during the first quarter, which is always challenging for container lines due to seasonal weakness in global cargo flows.
Carriers say the worst affected ports include Bangkok, Chittagong, Calcutta, and Shanghai, with berthing delays of about a week.
Located in Lach Huyen, HICT is the first terminal in northern Vietnam that can accommodate 14,000 teu container ships.
Volumes are growing, but the carrier is finding it difficult to contract adequate chartered-in tonnage.
Intergis plans to shed half its headcount at Pier 7 at Busan North Port after Sinokor Merchant Marine’s decision to remove 200,000 containers from there.