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Japanese farmers protest against the Trans-Pacific Partnership in Tokyo. Their banner reads: ‘We absolutely oppose Japan’s participation to TPP.’ Farmers in the US are pushing for Japan to join the 11-nation Trans-Pacific Partnership as a way to gain access to the world’s third-largest economy as automakers seek to exclude the Asian nation until it [...] 
Transparency has become an issue of the Pacific-region talks, with consumer, labor and environmental groups siding with some U.S. lawmakers who want participants to make their positions public. Dozens of groups including the U.S. Chamber of Commerce and International Brotherhood of Teamsters met with negotiators during Pacific-region trade talks in Leesburg, Virginia, as protesters called [...] A proposed Pacific trade region may capture an additional $3 trillion in economic output after Canada and Mexico were invited to take part in talks with nine other nations. A final deal that includes Canada and Mexico would create the U.S.’s largest trade accord, linking its North American Free Trade Agreement partners with eight Pacific-region [...]
A decision on whether to relocate the 500 people who work in the 26-story tower, or continue in the building as a tenant, will be made after a buyer is found. Singapore-based box shipping and logistics firm Neptune Orient Lines Limited (NOL) today announced their intention to sell the company’s Alexandra Road headquarters building. The [...] APM Terminals Shanghai APM Terminals will open a new regional headquarters in Singapore in September to oversee its operations in Southeast Asia and the Indian subcontinent and free its Shanghai office to focus on China and Japan. A.P. Moller-Maersk’s port operating arm said the new headquarters will drive its effort to strengthen operations and [...] The Obama administration hasn’t made a decision about adding Japan, Mexico and Canada to a Pacific-region trade accord being negotiated by nine nations, a top economic adviser to President Barack Obama said. The Pacific agreement, a trade priority for Obama, includes Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, the U.S. and Vietnam. Japan, Mexico, [...] Global terminal giants such as APM Terminals of Denmark, DP World of Dubai and Port of Singapore Authority (PSA) have continued to spurn India’s tariff fixing. Their complaint has been that the guidelines set by the government needs a review and the port regulator – Tariff Authority of Major Ports (Tamp) is creating a difficult [...] A shipping alliance will begin calling on the Port of Charleston in June, linking the port to countries in Asia and North Africa, the S.C. State Ports Authority announced recently. For the new service, the New World Alliance and Evergreen will call weekly on Charleston, the last port of call for the outbound service. The [...] Cosco has announced the biggest loss for 2011 so far reported in the shipping sector, and predicted another tough year ahead. The Chinese conglomerate saw a 2010 Rmb6.78 billion (US$1.07bn) profit turn into a Rmb10.5 billion ($1.66bn) loss, with group revenue plunging 12.3% to Rmb84.64 billion. However, as the container shipping business sailed into the [...] APM Terminals said opening an office in Hong Kong will help A.P. Moller-Maersk’s port operating unit to expand partnerships with Asia-based customers when making global decisions on port calls and inland routings. Thirteen of APM Terminals 20 largest customers are based in Asia, said Christiansen, a former CEO of APM Terminals in the Asia Pacific [...]
AJC reports that ‘Manufacturers have moved some production overseas to avoid the damage inflicted by the strong yen, a trend that has accelerated in recent years. Some economists say the trade balance will be in the black again within two years, but the era of very large surpluses that allowed Japan to build a [...] International Container Terminal Services Inc., the country’s biggest port operator, is rethinking its plan to acquire a Singapore-based port operator after a Japanese trading company, Mitsui & Co. Ltd., made a higher offer.An ICTSI executive said part of the options include giving up its plans to fully acquire Portek and keep its current 16.79 percent [...] Portek operates and manages ports in Indonesia, Algeria, Malta, Gabon and Rwanda. Japanese trading house Mitsui & Co said on Wednesday it had an agreement to acquire majority control of Singapore’s Portek International after launching a S$221 million ($180 million) bid for the port operator. Portek operates and manages ports in Indonesia, Algeria, Malta, [...] Crew management of the Maersk Gateshead has been contracted out, as has the management of several other Maersk ships. Maersk has said it will shift more management functions from Europe to Asia in order to save money. AP Moller-Maersk is contracting out the full crew management of six Maersk Line containerships to Norwegian shipmanager [...] Singapore’s securities watchdog has asked a potential bidder referred by Portek International to confirm whether it intends to make an offer for the Singapore-listed port operator. Last week, Singapore-listed Portek announced that it was in discussions with an unnamed potential bidder that had expressed interest to make an offer for all the shares in the [...] |
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