Shipping

Boat Show Sri Lanka 2010

The Boat Show Sri Lanka 2010, organized by the Boat Building Technology Improvement Institute Lanka (Gte) Ltd (BTI), will be held from April 24 - 26, 2010 at the BMICH.

The Ministry of Industrial Development has accepted the invitation to be the main sponsor of the Boat show recognizing the potential of the industry to become a multi-billion rupee industry concentrating on exports.

BTI is currently negotiating with the Ministry of Fisheries, Ministry of Investment Promotion and Ministry of Export Development and International Trade for their support and patronage.

The Sri Lanka Export Development Board and Sri Lanka Tourism are expected to be the co-sponsors.

The first ever Boat Show in Sri Lanka was held from June 8 - 10, 2008 at the BMICH and attracted buyers and sellers from the leisure, marine, tourism, fishing and other related industries.

This venture had the support from the State and the commercial sector. Support was extended by the Ministry of Industrial Development, Ministry of Export Development and International Trade, Sri Lanka Tourism, National Chamber of Exporters, Sri Lanka Export Development Board, Morex Lanka, American waters and Hilton Hotels.

The Boat Show Sri Lanka 2008 exhibition opened new frontiers of leisure boating, marine, industrial and commercial vessels where leading boat manufacturers secured orders which are being currently executed.

Following the success of the first ever international boat show in Sri Lanka "Boat show Sri Lanka 2008", the Boat Show Sri Lanka 2010 drives its way towards its second spectacular year by showcasing and offering a variety of leisure, marine, tourism, fishing boats and modern technology enabled marine products and allied services.

The intention of the organizers is to provide a forum for all the related business sectors involved directly and indirectly with the boating industry to display and promote their respective sectors to their potential clients.

The sectors include suppliers of leisure, pleasure, industrial and commercial, fishing vessels, material, engines, interior fixtures, fittings, electrical and electronic devices, navigation equipment, on board safety equipment, water sports gear and equipment, credit insurance, providers of service to industry such as investment promotion, marketing and export facilitation, repairs to boats hull, engines and other equipment and training providers in boat building, sailing, navigation and seamen training.

Evergreen posts fourth loss on freight rates

Evergreen Marine Corp., Asia's biggest container-shipping line, posted a fourth consecutive quarterly loss as slumping world trade and overcapacity cut freight rates.

Evergreen fell 2.7 percent to NT$16.20 in Taipei trading

The NT$2.58 billion net loss in the three months ended September compared with a profit of NT$291 million a year earlier. It was worse than the NT$286 million loss median of six analyst estimates compiled by Bloomberg. The number was derived from nine-month results announced by the Taipei-based company yesterday.

Third-quarter sales plunged 36 percent as European and US consumers pared spending and transportation fees declined. Container lines globally have parked ships and cut sailings as the biggest financial crisis since the great depression threatens to push the industry to at least US$20 billion of losses this year, according to Drewry Shipping Consultants Ltd.

"The container shipping industry is quite weak," said Peter Tzeng, an analyst at Polaris Securities Co. in Taipei. "Global trade may have bottomed, but volumes aren't improving."

China Cosco Holdings Co., and Neptune Orient Lines Ltd., Asia's second- and third-biggest container lines, also reported fourth straight losses last week. Neptune Orient said that "significant losses" would likely continue through the first half of next year at least.

Evergreen fell 2.7 percent to NT$16.20 in Taipei trading before the earnings announcement.

The company has gained 4.9 percent this year. Six of the 11 analysts covering the company tracked by Bloomberg have a "buy" rating on the stock. Three recommend "hold" and two say "sell."

The container line's third-quarter sales plunged to NT$3.61 billion, according to monthly filings to the Taiwan Stock Exchange. Revenue from affiliates and subsidiaries is counted separately.

The group operates 168 ships with a combined capacity of 614,000 standard 20-foot boxes. The China Post

Taiwan and China to improve freight trade

Container freight companies are looking towards the proposed Economic Cooperation Framework Agreement (ECFA) which is being discussed with officials from China in Beijing. The agreement is designed to strengthen trade ties between the two nations after the establishment of direct transport links in late 2008.

After a week which produced disappointing results for Taiwan's big three container carriers, Evergreen, Wan Hai Lines and the Yang Ming Marine Transport Corporation, all of whom have turned in far from impressive Q3 figures, hopes are raised that the negotiations will induce a rapid increase in trade.

The three shipping lines, all of whom cooperated in the private development of the new Taipei Port Container Terminal by investing over $615 million hope they will directly benefit in the increase in traffic of all types.

The new development is in a region that sees 60 percent of Taiwanese container traffic pass through and is expected to cut road miles and produce savings to shippers of around $100 million annually. The shipping lines will have responsible for the port for fifty years when ownership will pass to the Keelung Harbour Board.

The new talks with China have a sense of urgency following the ASEAN agreement to introduce a Free Trade Agreement in the region from 2010. The zero tariff levels China will receive as a result is liable to seriously impact on Taiwanese trade and it may be supposed that in the latest meetings representatives will push for the matter to be discussed further at the highest level during next month's discussions between the two countries.

Logistics is one industry that the Ministry of Economic Affairs intends to request receives tariff concessions when proposing a limited Free Trade Association between the two states. Handy shipping guide