Evergreen Marine, Asia’s Most Dramatic Hot-to-Cold Stock, Slides as China Bet Wanes

By Yu-Huay Sun and Richard Frost (Bloomberg) -- A Taiwanese shipping company is enduring the sharpest swing in fortunes among Asian shares. Evergreen Marine Corp., which operates the region’s second-largest container fleet, surged 39 percent last month in the top performance among members of the MSCI Asia Pacific Index. Behind the euphoria were bets that rising … [Read more...]

More Shipping Lines Suspend Qatar Services

By Jonathan Saul LONDON, June 7 (Reuters) - Taiwan's Evergreen and Hong Kong's OOCL said on Wednesday they had suspended shipping services to Qatar after Arab countries severed diplomatic ties with the Gulf state and imposed port restrictions this week. Saudi Arabia, Egypt and the United Arab Emirates (UAE) are among those to have cut ties with Qatar over its alleged support … [Read more...]

Taiwan Shipping’s Perilous Straits Call for Marriage

By David Fickling (Bloomberg Gadfly) -- While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, many of Asia's shipping lines have remained proudly single. Of the top 15 lines, soon there'll be: 9 Conscious of their status as national champions and contemptuous of rivals' business prowess, Taiwan's Evergreen … [Read more...]

Taiwan Offers to Lend Local Shipping Lines $1.9 Billion

TAIPEI, Nov 16 (Reuters) - Taiwan's government said on Wednesday it will offer to lend struggling local shippers NT$60 billion ($1.9 billion) at below-market interest rates, to help them cope with the industry's worst downturn. "The global shipping industry is going through a tough time. These loans are part of the government's efforts to help local shippers," said Yeh … [Read more...]

Ocean Alliance Toe Hits Water with Early Publication of Service Network

By Mike Wackett (The Loadstar) - The Ocean Alliance, which next April will be the biggest of the three vessel-sharing alliances, has published its pro-forma network, including port rotations for each service loop. “The signing of the ‘Day One Product’ marks an important step forward to show just how committed we are in developing the most competitive products to market … [Read more...]