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Hanjin Shipping wins court approval to wind down Europe business

By Kyunghee Park Hanjin Shipping Co., South Korea’s largest container line that has put its Asia-US business on sale after filing for bankruptcy protection late August, won approval from a court to wind down its European operations as demand for its services to the continent slumped. The judge overseeing Hanjin’s receivership at the Seoul Central District Court approved the firm’s request, a court spokesman said. Hanjin will close all its 10 branches in Europe, including its regional headquarters in Germany, the container line’s spokeswoman said separately on Monday. The Seoul-based company expects to start the process as early as this week, she said. The decision to shut down its Europe business is part of the breakup process of Hanjin kicked off by the Seoul court, which earlier said it would consider selling the …

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CIAC, Qatar Airways team up to aggressively market Clark airport

Qatar Airways is expanding its market by developing leisure, business and corporate traffic to Europe, the USA and the Gulf countries by tapping into its network in the Philippines, South Africa, North Africa and the Middle East, announced Country Manager Paolo Pausini. At present, the airline is working on an 18-month marketing plan for collaboration with the Clark International Airport Corporation (CIAC) to target upscale travelers going to destinations in Europe, the USA and the Gulf Cooperation Council (GCC) countries. Qatar Airways is a major international carrier at the Clark International Airport (CRK), with regular flights for its Clark-Doha route, servicing mostly overseas Filipino workers (OFW) in Central and Northern Luzon. The other day, officials of CIAC, led by its President and CEO, Alexander Cauguiran, met with Pausini on their joint effort. “Marketing for …

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Shipping alliance of 4 biggest container operators gets US nod

United States regulators have approved a new alliance between four of the world's largest container operators. The US Federal Maritime Commission voted to allow the Ocean Alliance, an agreement among France's CMA CGM, China's Cosco Group, Hong Kong's Orient Overseas Container Line and Taipei-based Evergreen Marine, to become effective as of Monday. The FMC, which governs the US international ocean transportation system, delayed its initial approval citing concerns about fair pricing for shippers moving cargo in and out of the US The FMC announcement Friday said the decision "follows an exhaustive review process" that "thoroughly examined all aspects of the proposed agreement to assure that competition in the ocean transportation industry would not suffer." Commissioner William Doyle of the FMC said in a statement Friday that he approved the alliance after significant changes …

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MICP raises P65 M from non-traditional revenues

Amid its monthly collection shortfall, the Manila International Container Port (MICP), the country’s biggest port, generated P65 million in non-traditional revenues in the first four months of the Duterte administration. MICP raised the amount from the public auctions of forfeited imported goods it conducted from July 1 to Oct. 4. Data culled from the Manila Port showed that 108 container vans filled with assorted items were disposed during the period, in which 30 containers were loaded with automobiles and motorcycles. “This is our way of contributing to the revenues of the agency,” said Gerry Macatangay, chief of the MICP’s Auction and Cargo Disposal Division, said. Just last Oct. 4, he said the proceeds from the sale of various goods in 10 lots were P14.46 million. The MICP were able to auction off stainless steel boilers, …

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London to put Uber drivers through English-proficiency test

Ratcheting up a battle with Uber Technologies, Inc., London’s government transportation agency is requiring drivers to meet an English-language requirement in order to hold a private-hire taxi license. The new rules, which apply to UberX and the company’s black car service, come after Uber successfully sued the city to block the introduction of English requirements that would apply only to drivers from non-English speaking countries. The proposal was considered discriminatory. Rather than backing away from the language-proficiency plan, the city is now requiring all drivers to prove their English skills by March 31, 2017. Uber is facing increased resistance in London, as officials attempt to protect its historic black cab industry, which has been a key part of the city’s transportation system for generations and whose drivers go through intensive training and …

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India launches regional aviation scheme

New Delhi– India's aviation ministry said on Friday the first flights under a scheme to boost air travel between smaller cities should take off in January, after it finalized rules to make flying more affordable in the world's fastest-growing aviation market. Under the "Regional Connectivity Scheme," air fares on routes between towns and cities currently poorly connected will be capped – at 2,500 rupees ($37.4) for every 500 km of travel – and service and fuel taxes reduced. A small levy will be slapped on existing routes to help pay for the scheme, while the government will provide funding to make the project viable and spend 40 billion rupees ($598 million) to reopen 50 disused airports within four years. Some industry executives have expressed reservations about the levy, but the ministry defended the …

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Hanjin Shipping to wind down Europe business as demand slumps

Hanjin Shipping Co., South Korea’s largest container line that has already put its Asia-US business on sale after filing for bankruptcy protection late August, will wind down its European business as demand for its services on the Asia-Europe trade lane slumped. Hanjin will close all its 10 branches in Europe, including its regional headquarters in Germany, the container line’s spokeswoman said Monday. The Seoul-based company expects to start the process as early as this week after obtaining approval from the Seoul Central District Court, she said. The decision to shut down its Europe business is part of the breakup process of Hanjin kicked off by the Seoul court, which earlier said it would consider selling the company entirely. Hanjin is also seeking separate bids from shipping companies to buy its Asia-US network …

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Hanjin Shipping in talks to sell Long Beach Terminal stake to MSC

Seoul – Hanjin Shipping Co. Ltd. is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A. (MSC), a spokesman for the Seoul court overseeing the shipper's receivership said on Friday. Hanjin Shipping owns a 54 percent stake in Total Terminals International LLC, which operates Long Beach Terminal in the US MSC owns the remaining 46 percent. It has appointed an advisor, an overseas firm specializing in shipping industry talks, to help with the negotiations, the court spokesman said. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight rates, put up other assets such as its US-Asia route manpower and logistics systems, five container ships and 10 overseas businesses, for sale earlier this month. Hyundai Merchant Marine …

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VLCC rates to stay firm on high cargo volumes

Singapore – Freight rates for very large crude carriers (VLCCs) could dip but are likely to remain firm next week on buoyant cargo volumes, ship brokers said on Friday. That came after VLCC rates from the Middle East to Japan hit a fresh four-month high on Wednesday, rising to almost 67.75 on the Worldscale measure, equivalent to $47,479 per day, the highest since June 8. “Rates will come off a bit, but it’s difficult to say how much. I don’t think we’ll see the market drop dramatically,” a European supertanker broker said on Friday. The broker estimated there were around 135 Middle East VLCC cargoes fixed for loading in October although other market watchers recorded around 140 fixtures. Supertanker rates were also buoyed by a 50 percent increase in the number of fixtures from …

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China to surpass US as world’s largest aviation market by 2024

China is set to overtake the US to become the world’s largest aviation market by passengers by 2024 as more people take to the skies domestically and internationally, according to the International Air Transport Association (IATA). The number of people flying to, from and within China will almost double to 927 million annually by 2025, from 487 million last year, according to forecasts from IATA made in an e-mailed statement, and reach 1.3 billion by 2035. In comparison, passengers in the US will increase to 904 million by 2025, from 657 million last year, according to the predictions. Global passenger travel is predicted to surge, with most of that growth coming from the Asia-Pacific region as economies expand and more people can afford to fly. India is set to surpass the UK …

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