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.
This story is from the October 03, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 03, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MQuest Artists Agency offers acting, dance, voice workshops
Those who will participate in the MQuest Artists Agency (MQAA) acting, dance, and voice public workshops will get the chance to be discovered and have exclusive access to auditions and the opportunity to join the MQAA talent pool.
SAM VERZOSA ON GIRLFRIEND RHIAN RAMOS: SHE'S MY LUCKY CHARM
SAM VERZOSA DESCRIBED girlfriend Rhian Ramos his \"lucky charm\" after receiving back-to-back awards this month.
The charmed life of Happy Ongpauco-Tiu
I was recently invited to the birthday lunch of PR guru Susan Joven at Tsokolateria-Pamana restaurant in the new GH (Greenhills) Mall.
FEELING RIZAL HOVER 'IN THE AIR' TONIGHT IN HEIDELBERG
HEIDELBERG, Germany—They say history is not just something we read or study; it is something we walk through. All our movements and moments become, in a sense, historic (with the magnitude of their historicity being relative, of course). History inhabits the air of cities—most especially old, grizzled ones such as Heidelberg in Germany with the hum and thrum of its cobblestones, where we recently echoed the footfalls not only of countless German figures who have shaped history but also of one Dr. Jose Rizal.
New Phl CPF finalized early next year – WB
The World Bank expects to finalize by early next year its new country partnership framework (CPF) that will outline programs to be supported in the Philippines for 2025 until 2028.
Focus on exports
Federation of Filipino Chinese Chamber of Commerce and Industry Inc. (FFCCCII) president Cecilio Pedro hopes that government officials would focus on increasing the country's self-sufficiency next year in the face of possible tariffs threats from the United States with the expected takeover of the government by president-elect Donald Trump.
ERC: EPIRA amendments could bring down power costs
The proposed changes to the Electric Power Industry Reform Act (EPIRA) could deliver the long-awaited solution to soaring electricity costs, according to the country's power regulator.
The bigger problems
\"In the larger scheme of things, Sara is unimportant. So please do not file impeachment complaints. It will only distract us from the work of governance which is to improve the lot of all Filipinos.\"
Phl MSMEs among target beneficiaries of ADB, Mastercard financing in Asia-Pacific
Micro, small and medium enterprises (MSMEs) in the Philippines are among the initial target beneficiaries of financing from the Asian Development Bank (ADB) and Mastercard to support small businesses in Asia-Pacific.
Metro Retail revisiting network expansion plan
Metro Retail Stores Group Inc., the listed retail company of the Gaisano Group, is revisiting its network expansion plan and strategies to adapt to the changing preferences of Filipino consumers.
