Evergreen Marine Corp

Quickie bills of lading for Taiwan shippers

Evergreen and Yang Ming will work with Taipei Fubon Bank to develop what has been termed “express bills of lading” which can be processed in an hour.

Under this scheme, the bills of lading are to be sent to the bank electronically, after which letters of credit are issued to the shippers. Taipei Fubon is also exploring blockchain technologies for this purpose. The scheme aims to help Taiwanese manufacturers which have seen high demand for exports amid the Covid-19 pandemic.

Taipei Fubon said that...

https://container-news.com/quickie-bills-of-lading-for-taiwan-shippers/

FMC to investigate carriers’ runaway rates success

Following up on last week’s efforts by the Chinese Ministry of Transport to curb runaway spot rates, United States authorities have threatened to take carriers to court if they discover evidence of collusion in the container shipping industry’s highly profitable response to the global pandemic.

The US government’s Federal Maritime Commission (FMC) called a private meeting yesterday (16 September) to discuss what it described as “market trends in trade lanes serving the US and actions taken by...

https://container-news.com/fmc-to-investigate-carriers-runaway-rates-success/

American truckers hit lines with intermodal lawsuit

The American Trucking Associations’ (ATA) Intermodal Motor Carrier Conference (IMCC) has filed a lawsuit against “unlawful actions” by foreign shipping lines that they claim have “cost shippers US$1.8n” in US ports and inland terminals over the last three years.

The legal challenge, lodged with the Federal Maritime Commission (FMC) at the end of last week has been filed against The Ocean Carrier Equipment Management Association (OCEMA) and its members: Maersk, Evergreen, Hapag-Lloyd, HMM, COSCO,...

https://container-news.com/american-truckers-hit-lines-with-intermodal-lawsuit/

Evergreen building logistics park in Taiwan

Evergreen Marine Corporation’s logistics park development in Dayuan District in Taoyuan, Taiwan, is progressing well, with the facility set for completion in late 2021.

According to the Taiwanese liner operator’s TW$2.6 billion (US$884.66 million) plan, there will be a four-storey warehouse and a seven-storey office building, with storage space of about 115,710m2 and an office area of 6,215m2.

The warehouse has an area of 1.16 million m2, and the second storey of the warehouse is a mezzanine...

https://container-news.com/evergreen-building-logistics-park-in-taiwan/

Asian lines record Q2 profits as cost-control pays dividends

Liner operators Evergreen Marine Corporation, Wan Hai Lines and Regional Container Lines (RCL) all reported profits for Q2 as blanked sailings and lower bunker costs mitigated the impact of reduced cargo volumes.

Evergreen recorded a net profit of TW$3.19 billion (US$108.28 million) and Wan Hai made a net profit of TW$1.68 billion (US$56.82 million).

The Covid-19 pandemic tested the liner industry’s ability to practise capacity discipline and route configurations.

Evergreen stated that its net...

https://container-news.com/asian-lines-record-q2-profits-as-cost-control-pays-dividends/

OOCL joins Ocean Alliance’s S. America service

Hong Kong based OOCL, a subsidiary of China’s COSCO has joined the Ocean Alliance’s Westcoast South America service and is booking cargo for its first loading on the 8,500TEU Ever Lissome.

The service operates between Chile, Panama, China and Taiwan. The OOCL service will begin in Hong Kong on 2 August when the 2014 built vessel, arrives in the city. Ever Lissome is one of 11 similar sized ships operating the OOCL named Transpacific Latin Pacific 3 (TLP3) Service, or Evergreen Marine...

https://container-news.com/oocl-joins-ocean-alliances-s-america-service/

Evergreen raises capital in maiden overseas bond issue

Taiwanese liner operator Evergreen Marine Corporation will turn to overseas investors to raise US$300 million in capital to cover the company’s operations.

The company announced on 9 July that it is issuing unsecured convertible bonds to maintain its long-term competitiveness, as well as to secure capital for the future deliveries of newbuildings to modernise its fleet. It is the first time that Evergreen has tapped investors abroad.

Proceeds from the five-year bonds will go towards working...

https://container-news.com/evergreen-raises-capital-in-maiden-overseas-bond-issue/

Taipei distributes shipping industry loans

Taiwan’s Ministry of Transportation and Communications announced on 2 June that it has disbursed loans of TW$16.5 billion (US$550 million) to the shipping industry to offset the effects of the decline in economic activity caused by Covid-19 crisis.

The announcement of government backed loans was first made on 19 May, and, without naming the borrowers, MOTC said three shipping companies had conveyed the need for funding. The loan approval came after the transport minister, Lin Chia-lung, met the...

https://container-news.com/taipei-distributes-shipping-industry-loans/

Express customs clearance warehouse opens at Taipei port

Taipei Port Container Terminal Corporation (TPCT), a joint venture between Evergreen Marine Corporation, Yang Ming Marine Transport and Wan Hai Lines, has launched an express customs clearance warehouse facility at Taipei port as demand for e-commerce grows.

Lockdown has seen many Taiwanese consumers purchasing goods from online Chinese retailers, resulting in more cross-strait container cargoes.

TPCT manages two terminals in Taipei port, which is the primary destination for cross-strait cargoes....

https://container-news.com/express-customs-clearance-warehouse-opens-at-taipei-port/

Wan Hai and Evergreen to swap Kaohsiung terminals

Intra-Asia operator Wan Hai Lines is set to take over the lease and operations of the No. 5 terminal in Taiwan’s Kaohsiung port, swapping places with fellow Taiwanese operator Evergreen Marine Corporation, which is moving to the No. 7 terminal from 2022.

Taiwan International Ports Corporation (TIPC), the government-owned company that runs Taiwan’s ports, announced that Wan Hai will take over from Evergreen in operating Kaohsiung’s terminal 5, which has three berths. Kaohsiung is Taiwan’s busiest...

https://container-news.com/wan-hai-and-evergreen-to-swap-kaohsiung-terminals/

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