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Cambodia’s 2 largest ports see remarkable rise in revenue last year

Cambodia’s two state-owned ports, Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP), had seen remarkable growth in revenue in 2019

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Cambodia's 2 largest ports see remarkable rise in revenue last year
Cambodia's 2 largest ports see remarkable rise in revenue last year. Image: Wikimedia/ Dmitry Makeev
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Cambodia’s two state-owned ports, Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP), had seen remarkable growth in revenue in 2019, according to the annual report of the Ministry of Public Works and Transport.

PAS, the kingdom’s largest seaport, made gross revenue of 79.3 million U.S. dollars last year, up 17.5 percent compared to the year before, said the report released at the ministry’s annual conference.

It said the port’s net profit was almost 13 million dollars last year, up 16 percent year-on-year.

The listed seaport handled 633,099 twenty-foot-equivalent units, or TEUs (standard-sized containers), last year, up 17 percent compared to a year earlier, the report said, adding that containerized cargo tonnage rose 22 percent to 6.5 million tons.

Meanwhile, the listed PPAP, the country’s second largest container hub, recorded total revenue of 29.6 million dollars in 2019, up 35 percent compared to 2018, the report said, adding that the port’s net profit was about 10 million dollars last year, up 30 percent year-on-year.

The freshwater port received 275,000 TEUs last year, up 29 percent year-on-year, it said. Containerized cargo tonnage increased 22 percent to 3.8 million tons.

Minister of Public Works and Transport Sun Chanthol attributed the remarkable surge in the ports’ revenue to the country’s good economic performance.

“For the Sihanoukville Autonomous Port, we will build a new container terminal with a depth of 14.5 meters next year in order to accommodate large ship travelling in the Asia-Pacific region,” he said at the ministry’s annual conference.

Work on the new container terminal will be commenced in 2021 and is expected to be completed in 2024, he said, adding that it is estimated to cost roughly 200 million dollars.

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China’s trade with Bulgaria up 5.1 pct in 2019

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China's trade with Bulgaria up 5.1 pct in 2019. Image: Pixabay
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China’s trade with Bulgaria grew by 5.1 percent year on year in 2019 to 2.72 billion U.S. dollars, said an official with the Ministry of Commerce.

Since the establishment of the China-Central and Eastern European Countries cooperation mechanism in 2012, China and Bulgaria have made positive progress in cooperation in trade, investment, agriculture, infrastructure and other fields, said Yu Jianhua, vice commerce minister and deputy China international trade representative, at the China-Bulgaria Business Forum.

So far, China’s investment in the country has amounted to 740 million U.S. dollars.

China is willing to work with Bulgaria to tap the huge potential of the Belt and Road and advance bilateral economic and trade cooperation to a higher level, Yu said.

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Guangdong’s trade with Belt & Road countries up 4.7 pct in 2019

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Guangdong's trade with Belt & Road countries up 4.7 pct in 2019. Image: Wikimedia/ ma luyao
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South China’s Guangdong Province witnessed a 4.7-percent increase in its trade with Belt and Road countries in 2019.

According to the government report delivered at the annual provincial legislative session, the China-Europe freight trains departing from Guangdong saw their annual cargo volume increase by 31.2 percent year on year in 2019.

The province also had five new friendship cities, and its friendship city network covered major countries along the Belt and Road by the end of last year.

According to the report, the province will continue to support its enterprises in participating in infrastructure projects and energy development in Belt and Road countries, and develop more businesses and transport modes for the China-Europe freight trains in 2020.

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Whistl to offer semi tracked import service from 220 countries

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Whistl to offer semi tracked import service from 220 countries. Image: Geograph/ Mark Anderson
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Whistl and One World Express have joined forces to offer eCommerce importers into the UK a tracked postal service, Insight, from 220 countries worldwide.

Under the agreement, eCommerce importers will be able to print one label for an individual item in the country of origin and track it through the various transit stages, including customs clearance. When Whistl receive the item in the UK it will be processed in the network and handed to Royal Mail for delivery to the end consumer.

Established in 1998, the then One World Express Group (OWE) started as a UK-based cross-border express carrier. Today, it has become a data-driven IT platform currently managing 10.000+ tariffs on behalf of its clients to destinations worldwide. In 2016 OWE started to extend its integration library, integrating with marketplaces like Amazon, eBay and Lazada and also various eCommerce platforms such as Magento, allowing its customers to manage orders from all their sales channels using a one-stop-solution through their technology platform “Smarttrack”.

Nick Wells, CEO Whistl, said:
“With the unprecedented expansion of the eCommerce industry globally and the rise of imports into the UK, consumers are looking for greater transparency on the delivery journey from country of origin to their home. Whistl is delighted that we will be working with One World Express to enable eCommerce importers from 220 countries to semi track every item they import into the UK before handover to Royal Mail via Insight.”

Atul Bhakta, CEO One World Express Group, said:
“By collaborating with the leading delivery management company in the UK, global customers who are importing into the UK, now have access to the experts who understand the importance of the customer experience from origin to handover to the consumer. We look forward to building our Insight relationship together.”

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