Capital gains tax: More than expected KUALA LUMPUR (Jan 13): Beginning Jan 1, the capital gains tax (CGT) took effect. Many were under the impression that it would be limited to gains or profits from the disposal of unlisted shares in Malaysia based on the Budget 2024 announcement. However, when the draft Finance (No 2) Bill 2023 was tabled in [...]
14/01/2024
BYD is now using purpose-built EV cargo ships to send its cars to Europe. The first one, with room for 7,000, just set sail BYD Co.’s first chartered cargo ship has set sail as the automaker ramps up exports of electric vehicles. The BYD Explorer No. 1, capable of carrying 7,000 cars, is bound for Europe after making a stop [...]
14/01/2024
Panama Canal drought forces Maersk to start using ‘land bridge’ for Oceania cargo KEY POINTS In an advisory to clients, Maersk informed shipping customers that vessels that use the Panama Canal will no longer be traversing the canal with freight from Oceania (Australia and New Zealand) because of the ongoing water situation. The latest water level issues for the canal [...]
14/01/2024
Air cargo eyes a year of uncertainty and opportunity Geopolitical uncertainty and unpredictability could fuel demand for air cargo as shippers move to benefit from the stability of services. Figures from data provider Xeneta show that air cargo demand increased by 9% year on year in December – although this is partly a reflection of a weak end to 2022 [...]
08/01/2024
Update: Maersk Ship Hit by Missile, Avoids Boarding in the Red Sea A Maersk containership has been hit by a missile in the Red Sea, the U.S. has reported. Hours later, the same ship was swarmed by Houthi boats, but the ship avoided the attempted boarding with help from U.S. Navy and its own embarked security team. The incident marks [...]
08/01/2024
Red Sea attacks see exporters turn to China-Europe Railway Express ahead of Lunar New Year Many shipping companies have pulled their vessels from the Suez Canal route as Houthi rebels in Yemen continue to fire at cargo ships Some exporters are now using the overland rail route between China and Europe, with enquiries doubling since the Red Sea attacks began [...]
08/01/2024
Airbus is revolutionizing sea transportation by transforming its Atlantic-based fleet: ‘This demonstrates our determination’. Airbus is taking the power of the wind from wing to sail as the plane builder plans to transform its chartered Atlantic-based transportation fleet, reducing annual air pollution by up to 75,000 tons by 2030. To achieve the goal, the company reported that it has commissioned [...]
01/01/2024
The Maritime Stories That Made 2023 [Part II]. Panama Canal Drought A bulk carrier transits the Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File Photo The Panama Canal faced its worst drought in more than 70 years in 2023 thanks in part to the ongoing El Nino phenomenon, leading to a water [...]
31/12/2023
The Maritime Stories That Made 2023 [Part I]. This year proved once again that the maritime industry is one of the most important and exciting industries on the planet. As 2023 comes to a close, we’re taking a look back at some of the biggest maritime stories that dominated the headlines over the last twelve months, as selected by gCaptain’s [...]
31/12/2023
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