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Shipping stocks surge on high freight rates | Hellenic Shipping News Worldwide


Shipping stocks surge on high freight rates
Shares of shipping companies jumped strongly on Thursday after freight rates hit a 10-year high, led by Precious Shipping (PSL) soaring 10.83 per cent to 17.40 baht per share at the mid-day break.
Precious Shipping peaked at 17.70 baht at 12.21 pm, up 12.74 per cent from its closing price on Wednesday. Transaction value in the morning session was 1.16 billion baht.
The Baltic Dry Index (BDI) climbed 9.6 per cent to close at 2,710 points on Wednesday, the highest since October 2010, gaining for a sixth straight session as shipping demand and supply continued to mismatch, according to UOB Kayhian Securities. ....

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PHIVIDEC services to emerge Misamis Oriental as agro-industrial powerhouse


MANILA, Jan. 31 PHIVIDEC Industrial Authority Administrator and CEO Jose Gabriel “Pompee” La Viña on Saturday, 30 January 2021, said that with the launch of the new shipment service at the Mindanao Container Terminal (MCT), Misamis Oriental can become an agro-industrial powerhouse.
On December 18, 2020, international shipping line and feeder operator Regional Container Lines (RCL) launched its weekly service connecting Cebu, Misamis Oriental, and Zamboanga to international markets in China, South Korea, Southeast Asia, the Indian subcontinent, and the Middle East.
La Viña noted that this new service is part of a value chain that can give producers, industries and Small and Medium Enterprises in Cagayan de Oro and Misamis Oriental the ability to export products in a reliable transit time and reduced inventory cost. ....

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