A foreign shipping firm has decided to throw its hat into the Philippine domestic shipping arena, which has been plagued for decades with the high cost of doing business, lack of economies of scale and poor port infrastructure.
This has made the cost of domestic shipping much higher than shipping from abroad.
Friday last week, CNC, the intra-Asia short sea specialist of the CMA CGM Group, announced the launch of a new legal entity named CMA CGM Philippines Shipping, making it the first 100 percent foreign-owned international shipping line to register and operate a domestic service in the Philippines following the government's expanded regulations permitting foreign shipping lines to venture into domestic shipping.
Headquartered in Singapore, CNC is regionally represented by an extensive agency network throughout Asia. CNC is the sole brand of the CMA CGM Group in intra-Asia. It currently offers over 50 services, continually strengthening its service network according to market demands and shifts.
The new domestic service will be launched with the Philippines-flagged vessel CNC PILIPINAS, a 1,037 twentyfoot equivalent unit vessel. The CNC PILIPINAS will sail on the Luzon Visayas Mindanao Express (LVMX) shipping service, with weekly port calls rotating between Manila, Cagayan de Oro, Cebu, and back to Manila.
The service, according to CNC, will support the establishment of new maritime routes, improving connectivity from major ports in the Philippines to the group's global network, reducing transit times, lowering logistics costs and fostering stronger economic ties and trade flows across the region.
هذه القصة مأخوذة من طبعة October 03, 2024 من The Philippine Star.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 03, 2024 من The Philippine Star.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
BINI's 'Born to Win' docu chronicles girl group's struggles and rise to stardom
Mikha, Colet, Maloi and Jhoanna of the P-pop girl group BINI got emotional after watching their docuseries, \"Chapter 1: Born to Win.
THIRD-GENERATION NIEVERA IN MARTIN'S 42ND ANNIVERSARY CONCERT
THERE WERE undoubtedly thrilling, exciting, funny, surprising and memorable moments when Concert King Martin Nievera staged his major concert, \"The King 4Ever,\" Friday night at the Araneta Coliseum.
SPICES, TEARS AND CHEERS
People gather together around a table of food for many reasons.
EMPOWER YOUR LIFESTYLE WITH THE CHINABANK VELVET VISA SIGNATURE
In a significant move towards improving financial services and expanding market reach, Chinabank and Visa have officially entered into a strategic partnership marking the beginning of a promising collaboration aimed at leveraging each company's strengths to deliver innovative banking solutions.
A CULINARY ADVENTURE AT 22 GRAMS
I got to 22 Grams in Poblacion, Makati and was a bit apprehensive to enter as it looked like a place for cakes and desserts.
Gov't to lose P10 B from vape smuggling
Lost revenues from the continued smuggling and illegal selling of vape products will likely double to P10 billion this year as misdeclaration worsens.
After parking, new NAIA operator hikes airline fees
After first hiking parking rates, the new operator of Ninoy Aquino International Airport (NAIA) has this time started charging airlines higher takeoff and landing fees, a cost hike that could push airfares up.
Foreign competition to perk up domestic shipping
It has finally happened.
Power stability, WESM and cheap electricity
Three of several important energy development in the country recently are related to our energy security, distribution continuity, and power stability.
First end-of-life vehicle dismantling facility launched
The country's first end-oflife (ELV) vehicle dismantling facility has been launched in Pampanga with support from the Japan International Cooperation Agency (JICA) as part of the push for responsible management of waste in the automotive industry.