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21 August 2025 - Year XXIX
Independent journal on economy and transport policy
10:26 GMT+2
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(The Korea Times)
February 14, 2003

Kim Apologizes for Summit Scandal

By Oh Young-jin
Staff Reporter
The Korea Times

President Kim Dae-jung yesterday admitted approving Hyundai Merchant Marine's (HMM) transfer of more than $200 million to North Korea just before the historic inter-Korean summit in June, 2000, although he knew the payment was illegal.

In a nationally televised news conference, Kim said, "The government allowed ......
Read more on The Korea Times
›››File
FROM THE HOME PAGE
ZIM's quarterly economic and operating performance declines
SHIPPING
ZIM's quarterly economic and operating performance declines
Haifa
In the period April-June the average value of freight rates fell by -11.6%
SHIPPING
Interferry's Entry/Exit System risks delaying ferry operations at European ports.
Victoria
The system will come into force on October 12th
SHIPPING
Ammonia and methanol are ready to decarbonize shipping, but some obstacles to their use must be removed.
Copenhagen
COMPANIES
DFDS closes second quarter with a loss
Copenhagen
In the period April-June 2025 the fleet transported 10.6 million linear meters of rolling stock (-0.4%)
New record quarterly results for the American cruise group Viking
CRUISES
New record quarterly results for the American cruise group Viking
Los Angeles
The April-June period closed with a net profit of 439.2 million dollars (+182.2%)
PORTS
Container traffic in the port of Barcelona grew by 1.8% last month.
Barcelona
202,321 TEUs handled at loading and unloading (+10.4%) and 142,492 TEUs in transit (-8.3%)
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
PORTS
In the second quarter of 2025, freight traffic in the Port of Hamburg grew by +4%
Hamburg
Sharp increase in transshipment container volumes (+26%)
PORTS
In the April-June quarter, freight traffic in Tunisian ports decreased by -3.8%
La Goulette
In the first six months of 2025, 13.8 million tonnes were handled (-3.2%)
COMPANIES
Norway's Xeneta has bought Denmark's eeSea
Oslo
PORTS
Port of Koper sets new quarterly records for containers and rolling stock
Ljubljana
In the period April-June, 5.6 million tons of goods were moved (-4.1%)
PORTS
Port of Los Angeles hits record monthly container traffic
Los Angeles
Over one million TEUs were handled in July (+8.5%)
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
SHIPPING
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
Hamburg
Net profit fell by -39.4%
SHIPPING
Evergreen reports an 18.7% drop in quarterly revenues
Taipei
The April-June period closed with a net profit decrease of -62.9%
SHIPPING
South Korean company HMM's revenues fell by 1.5% in the second quarter.
Seoul
SHIPPING
Trump announces rejection of IMO's shipping decarbonization program
Washington
The proposed framework - it is denounced - is in effect a global carbon tax that affects Americans and is imposed by an irresponsible United Nations organization.
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
SHIPPING
Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
Keelung/Taipei
In the period April-June, revenues decreased by -26.5% and -8.7% respectively
PORTS
Cruise traffic at Global Ports Holding terminals grew by 6.0% in the second quarter
Istanbul
In the first six months of 2025, an increase of +16.7% was recorded
PORTS
In the period April-June, cargo traffic in Croatian ports decreased by -4.0%
Zagreb
Cruise passengers grow by +5.4%
PORTS
Container traffic at US ports is expected to plummet in the second half of this year.
Washington/Long Beach
In July, the Port of Long Beach handled 944,000 TEUs (+7.0%)
SHIPYARDS
ThyssenKrupp shareholders approve spin-off of ThyssenKrupp Marine Systems
Eat
The company will be listed on the Frankfurt Stock Exchange
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
TRADE
WTO: Measured responses have cushioned the impact of tariffs in 2025, but risks remain high for 2026.
Geneva
Global trade in goods is expected to grow by 0.9% this year
INTERMODAL TRANSPORT
Hupac will increase the number of weekly rotations between Busto Arsizio and Basel from five to eight
Noise
Increase in attendance from September 1st
PORTS
From January 1st, new bunkering regulations will apply in the ports of Rotterdam and Antwerp.
Rotterdam
The barges must be equipped with flow meters
SHIPPING
Maersk reports higher quarterly revenue, lower earnings
Maersk reports higher quarterly revenue, lower earnings
Copenhagen
Terminals and logistics have made a positive contribution. Container shipping benefits from demurrage revenues.
INFRASTRUCTURE
The CIPESS has approved the final project for the bridge over the Strait of Messina.
Rome
Construction will begin this year and the project will be completed in 2032.
DHL Group revenues fell by 3.9% in the second quarter
LOGISTICS
DHL Group revenues fell by 3.9% in the second quarter
Bonn
Significant reduction in shipments from China and Hong Kong to the US due to Trump's abolition of the de minimis regime
The Grendi group has acquired 70% of Dario Perioli Spa
COMPANIES
The Grendi group has acquired 70% of Dario Perioli Spa
Milan
The remaining 30% will remain with Fingiro, owned by Michele Giromini, the company's CEO.
SHIPPING
HMM announces failure of SK Shipping acquisition talks
Seoul
The operation reportedly fell through due to a disagreement on the transaction price.
PORTS
In the second quarter, freight traffic in the port of Taranto increased by +22.8%
Taranto
Containers stopped at just 4,000 TEUs (-27.4%)
RAILWAY TRANSPORT
In the first half of the year, the operating revenues of the Ferrovie dello Stato Italiane group grew by +2.3%
Rome
In the goods segment alone, an increase of +6.9% was recorded
ENVIRONMENT
Pacific Environment calls on IMO to adopt binding measures to reduce the impact of shipping on the Arctic
Anchorage
PORTS
In the first half of 2025, freight traffic in the port of Palermo increased by +0.5%
Palermo
Rolling stock is growing. Other freight is declining.
In the second quarter, ship traffic in the Panama Canal increased by +16.3%
SHIPPING
In the second quarter, ship traffic in the Panama Canal increased by +16.3%
Panama
Panama Ports Company says it is ready to confront the Panamanian government, but "at the appropriate time."
TRADE
The National Retail Federation has strongly condemned Trump's tariff policy.
Washington
New tariffs will impact goods in the coming weeks
PORTS
Mulino proposes the Panamanian state's entry into the consortium interested in acquiring Panama Ports Company.
Panama
Supreme Court verdict on concession contract pending
Container shipping company ONE's quarterly results worsen
SHIPPING
Container shipping company ONE's quarterly results worsen
Singapore
In the April-June period, revenues decreased by -4% and net profit dropped by -89%.
ACCIDENTS
Accidents to dock workers occur equally frequently on board ships as on land.
London
ICHCA report on nearly 500 accidents over the past 25 years
Norwegian Cruise Line Holdings reports record performance for the April-June quarter
CRUISES
Norwegian Cruise Line Holdings reports record performance for the April-June quarter
Miami
Bookings reached an unprecedented level
PORTS
Paolo Piacenza has been appointed extraordinary commissioner of the Port Authority of the Southern Tyrrhenian and Ionian Seas.
Rome/Genoa/Gioia Tauro
RAILWAY TRANSPORT
DB Cargo records declines in turnover and rail freight volumes
Berlin
In the first six months of this year, shipments totaled 82.9 million tons (-10.8%)
PORTS
In the second quarter, container traffic in the port of Genoa fell by -2.8% while in Savona-Vado it grew by +76.3%
Genoa
In the Ligurian capital, the transhipment share decreased, while the Savona port benefited.
SHIPYARDS
Fincantieri records strong growth in half-year financial performance and new orders
Rome
In the first six months of 2025, orders totaled 14.7 billion euros (+93.5%)
In the second quarter, naval traffic through the Suez Canal decreased by -6.2%
SHIPPING
In the second quarter, naval traffic through the Suez Canal decreased by -6.2%
Cairo
1,248 tankers (-2.7%) and 1,826 other types of vessels (-8.5%) passed through
SHIPPING
CMA CGM's net profit fell by 140% in the second quarter.
Marseille
Revenues stable. The French shipping group is interested in acquiring Hutchison Ports' terminals.
CRUISES
Royal Caribbean closes second quarter with record net profit
Miami
The April-June period was very positive
RAILWAY TRANSPORT
Union Pacific and Norfolk Southern announced a merger agreement today.
Union Pacific and Norfolk Southern announced a merger agreement today.
Omaha/Atlanta
First coast-to-coast cargo rail network
PORTS
Gurrieri resigns as Special Commissioner of the Eastern Adriatic Sea Port Authority
Trieste
LOGISTICS
The atypical reverse charge for the logistics sector will become applicable tomorrow
Milan
Ruggerone (Assologistica): one of the most strategic reforms we helped build is being implemented
SAFETY & SECURITY
Policy brief on cyber threats that pose risks to port infrastructure
Tallinn
It was developed by the NATO Cyber Defence Centre of Excellence
SHIPPING
Interferry urges the EU Commission to harmonize its shipping decarbonization regulations with those of the IMO
Victoria
Failure to align - the association warned - will force shipping companies to pay twice for emissions.
PORTS
In the second quarter of 2025, Chinese seaports handled 79.1 million containers (+6.1%)
Beijing
Total freight traffic was three billion tons (+3.3%), of which 1.3 billion tons were with foreign countries (+1.9%).
PORTS
CK Hutchison announces plans to include a Chinese investor in the consortium to sell Hutchison Ports
Hong Kong
Without the participation of the COSCO shipping group, China would not authorize the sale
Sri Lanka's Supreme Court has awarded compensation of $1 billion over the X-Press Pearl accident.
LAW
Sri Lanka's Supreme Court has awarded compensation of $1 billion over the X-Press Pearl accident.
Columbus
The container ship caught fire and sank near the port of Colombo
The Greek government sends a tugboat to the Red Sea to assist ships that may be attacked by the Houthis.
SAFETY & SECURITY
The Greek government sends a tugboat to the Red Sea to assist ships that may be attacked by the Houthis.
Piraeus
The AHTS "Giant" is leaving
Saipem and Subsea7 have signed a binding merger agreement.
OFFSHORE
Saipem and Subsea7 have signed a binding merger agreement.
Milan/Luxembourg
The transaction is expected to close in the second half of 2026.
PORTS
Container traffic in the port of Algeciras grew by 6.6% in July
Algeciras
In the first seven months of 2025, a decrease of -2.9% was recorded
PORTS
Salvini has appointed Annalisa Tardino as extraordinary commissioner of the Western Sicilian Sea Port Authority.
Rome/Palermo
The President of the Sicilian Region announces the appeal against the provision
PORTS
In July, the port of Valencia handled 488,000 containers (+6.7%)
Valencia
Increase driven by growth in empty containers
PORTS
The materials dredged in the ports of La Spezia and Carrara will be used for the construction of the new breakwater in Genoa.
Genoa/La Spezia
Agreement between the two Ligurian Port System Authorities
ACCIDENTS
X-Press Feeders denounces authorities' failure to acknowledge responsibility in the X-Press Pearl accident
Singapore
According to the company, the Supreme Court ruling ignores international maritime law
PORTS
Cargo traffic in Russian ports remained stable in July
St. Petersburg
In the first seven months of 2025, loads decreased by -4.6%
PORTS
Container traffic in the port of Hong Kong decreased by -6.5% in July
Hong Kong
A decline of -3.7% was recorded in the first seven months of 2025
PORTS
In July, the Port of Singapore set a new all-time record for monthly container traffic with 3.9 million TEUs.
Singapore
In terms of weight, containerized cargo decreased by -3.6%
PORTS
Compensation to be paid by the Civitavecchia Port Authority in the Fincosit case has been set at €1.5 million.
Civitavecchia
Latrofa: The ruling allows the release of set-aside sums that have frozen the budget for years.
PORTS
Germany's HHLA posts record quarterly revenue
Hamburg
In the second quarter, the group's port terminals handled 3.2 million containers (+7.9%)
PORTS
In the first half of 2025, CK Hutchison's port terminals handled 44 million containers (+4.0%)
Hong Kong
SHIPPING
In the quarter April-June the Wallenius Wilhelmsen fleet transported 14.8 million cubic meters of rolling stock (-0.5%)
Lysaker
Revenues down by -0.7%
PORTS
In the second quarter, Montenegro's ports handled 670 thousand tons of goods (+0.6%)
Podgorica
Volumes with Italy amounted to 154 thousand tons (+53.1%)
PORTS
With the arrival of the first container ship, the testing of operational procedures at the Rijeka Gateway begins.
The Hague
The first commercial ship is expected on September 12th
PORTS
A proposal to bring the port of Taranto back onto global container routes? Start a discussion table.
Taranto
Meeting on the status of freight traffic
PORTS
Port of Ancona: Tender for demolition of fire-damaged Tubimar warehouses
Ancona
The expected duration of the works is four and a half months
SHIPPING
Merger of the German MACS and Hugo Stinnes, both active in the MPP vessel segment
Hamburg/Rostock
Stinnes headquarters in Rostock to close by December 31
PORTS
In the second quarter, freight traffic in Albanian ports grew by +2.9%
Tirana
There were 331 thousand passengers (+13.6%)
CUSTOMS
A.SPE.DO, operationalizing the Smart Terminal to increase the competitiveness of the port of La Spezia.
La Spezia
FINANCING
ING loans to Premuda for over 100 million dollars
Milan
Funds for the management buyout and the purchase of two product tankers
SHIPPING
Sallaum Lines has taken delivery of the first of six Ocean-class dual-fuel PCTCs
Rotterdam
The ship was completed four months ahead of schedule
PORTS
First meeting of the new Management Committee of the Western Ligurian Sea Port Authority
Genoa
Several measures approved, including those for CULMV and CULP staff
PORTS
Euroports to operate a new liquid bulk terminal in the French port of Port-La Nouvelle
Beveren-Kruibeke-Zwijndrecht
It is expected to become operational in 2026
SAILING LIST
Visual Sailing List
Departure ports
Arrival ports by:
- alphabetical order
- country
- geographical areas
PORTS
In the second quarter, freight traffic in the port of Ravenna increased by +2.6%
Ravenna
Growth of 0.6% was recorded in June. An increase of 4.8% is expected in July.
PUBLICATIONS
OsserMare presents five reports on the marine economy
Rome
They focus on a specific sector supply chain or aspect of it
PORTS
Port of Naples: Road haulage operations resume
Naples
Resolution meeting between institutions, operators and trade associations
PORTS
ICTSI again reports record quarterly financial and operating results
Manila
SHIPPING
Global Ship Lease Reports Record Quarterly Revenue
Athens
In the April-June period, net profit was 95.4 million dollars (+8.4%)
SHIPYARDS
Vard receives new order from North Star for two hybrid SOVs
Trieste
Contract worth between 100 and 200 million euros
SHIPPING
The Panama Shipping Registry will no longer accept the registration of oil tankers and bulk carriers over 15 years old.
Panama
Measure to counter the use of the shadow fleet
SHIPPING
Danaos Corporation reports record quarterly revenue
Athens
The April-June period closed with a net profit of 130.9 million (-7.3%)
FREIGHT TERMINALS
New customs fast corridor between the port of La Spezia and Interporto Padova
Padua
It adds to the other three already active on the same route
PORTS
ICTSI to operate Indonesia's Batu Ampar Container Terminal
Manila
It is located on Batam Island
COMPANIES
Pino Musolino has been appointed CEO of the Alilauro shipping company.
Naples
He replaces the resigning Eliseo Cuccaro
SHIPPING
In the second quarter, DIS' time charter revenues fell by -37.1%.
Luxembourg
Net income was $19.6 million (-70.5%)
RAILWAY TRANSPORT
Austrian Rail Cargo Group is focusing on the development of the Sommacampagna-Sona intermodal terminal.
Vienna
Ten-year agreement
PORTS
Wista Italy denounces the exclusion of women from the nominations of port authority presidents.
Milan
Musso: The glass ceiling that prevents women from accessing leadership roles remains.
SHIPPING
In the second quarter, maritime traffic in the Bosphorus Strait decreased by -6.0%
Ankara
18.1% decline in ships over 200 metres in length
NEWS
Fifty kilos of cocaine seized at the port of Civitavecchia
Rome
They were hidden inside a reefer container arriving from Ecuador
TRADE
Trump has eliminated tariff exemptions for low-cost goods for all nations.
Washington
Goods with a value of less than $800 will also be subject to the tax.
SHIPYARDS
Viking Mira was launched at Fincantieri's Ancona shipyard
Trieste
The multi-role frigate "Emilio Bianchi" was delivered to the Muggiano shipyard
PORTS
The Port Authority of the Central-Northern Adriatic Sea has obtained EMAS registration
Ravenna
Certifies commitment to environmental management and sustainability
CRUISES
MSC Cruises reduces emissions with the support of an energy transition plan
Geneva
The 2024 Sustainability Report has been presented
LOGISTICS
DSV reports strong growth in financial and operating results thanks to the acquisition of Schenker
Hedehusene
Quarterly record in air and ocean shipment volumes
COMPANIES
In 2024, the Fratelli Cosulich group's revenues increased by +12.8%
Genoa
Operating result down by -31.7%
SHIPPING
In the second quarter of this year, Finnlines' revenues decreased by -5.0%.
Helsinki
Net profit of 26.1 million euros (+7.7%)
PORTS
Container traffic in the Port of New York remained stable in the April-June quarter.
New York
An increase of +4.9% was recorded in the first half of 2025
PORTS
Latrofa appointed extraordinary commissioner of the Port Authority of the Central-Northern Tyrrhenian Sea
Rome
Ministerial decree signed
PORTS
The Chamber of Deputies approves the appointment of the presidents of five Port System Authorities.
Rome
They are Davide Gariglio, Francesco Rizzo, Eliseo Cuccaro, Francesco Benevolo and Giovanni Gugliotti
FREIGHT TERMINALS
The PNRR tender for interports has been reopened.
Rome
Resources available amounting to 2.2 million euros
PORTS
Port of Livorno: Workers are the priority in the LTM crisis
Livorno
LOGISTICS
UPS's quarterly earnings performance declines
Atlanta
Net income in the April-June quarter was $1.28 billion (-8.9%)
PORTS
Approval for the 2025 budget variation of the Southern Tyrrhenian and Ionian Sea Port Authority.
Gioia Tauro
500 thousand euros for the 49% share held by the Port Agency company
COMPANIES
FHP Group acquires the remaining 10% stake in Lotras
Milan/Foggia
The integration between Lotras and CFI Intermodal will begin to create FHP Intermodal.
LOGISTICS
OITAF scientific document on good practices in the logistics and transport of fresh fruit and vegetables
Milan
ASSOCIATIONS
The Northern Tyrrhenian Sea Port Authority has joined the PLIKA
Livorno
Platform dedicated to training, innovation and knowledge sharing in the logistics and port sectors
PORTS
Matteo Paroli's nomination as president of the Western Ligurian Sea Port Authority has been signed.
Rome
He has a degree in law and a specialization in administrative law.
PORTS
Container throughput increases in Haropa Port, while bulk cargo decreases.
Le Havre
In the first half of this year, containers were 1.51 million TEUs (+4%)
COMPANIES
Bureau Veritas reports a 9.8% quarterly increase in revenues in the Marine & Offshore segment
Courbevoie
INDUSTRY
Kalmar and Konecranes increase new orders in the April-June quarter
Helsinki
The turnover of the two Finnish companies is slightly increasing
PORTS
Container traffic in the port of Barcelona fell by 12.2% in the second quarter.
Barcelona
PORTS
Assiterminal threatens a new wave of appeals against regulations it believes are damaging to port operations
Genoa
COMPANIES
2M Logistics signs an agreement with Salerno-based Gallozzi
Barendrecht
The Dutch company will represent GF Logistics, a subsidiary of the Italian group, in the Benelux region.
LOGISTICS
Swiss company Kuehne+Nagel's quarterly profits fell
Schindellegi
In the period April-June of this year, net turnover grew by +1.7%
SHIPYARDS
Yang Ming orders three 8,000 TEU container ships from Nihon Shipyard and Imabari Shipbuilding
Keelung/Imabari
Contract valued at $351.3-394.5 million
PORTS
Egypt's first automotive terminal has come into operation at Port Said East.
East Port Said
It can accommodate two car carriers at the same time
PORTS
Italia Nostra reiterates its strong concerns about the construction of the Fiumicino-Isola Sacra port.
Rome
European maritime cities, destinations for cruise tourism - the association highlights - denounce the phenomenon of over-tourism in the cruise sector
PORTS
Tepsa has acquired a liquid bulk terminal in the port of Rotterdam.
Singapore/Rotterdam
It was sold by Global Energy Storage Holdings
COMPANIES
The Spinelli Group has approved its 2024 sustainability report.
Genoa
Of the company's 616 direct employees, 49% are under the age of 50.
PORTS
In the second quarter of this year, cargo traffic in Turkish ports grew by +1.6%
Ankara
Cargoes to and from Italy amounted to 12.7 million tons (+10.1%)
LOGISTICS
Extension of the Simplified Logistics Zone for Genoa Ports and Dry Ports to the Savona, Vado Ligure, and Bergeggi areas.
Genoa
Approval from the ZLS Steering Committee
INDUSTRY
Isotta Fraschini Motori has inaugurated a new production line for hydrogen fuel cell systems in Bari.
Trieste
They will be used for naval and land solutions
SHIPPING
The Grande Shanghai , the Grimaldi Group's first ammonia-ready car carrier, has been christened.
Naples
It has a load capacity of 9,000 CEUs.
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
MEETINGS
Confindustria event on the sea economy in Rome on July 15th
Rome
MEETINGS
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
››› Meetings File
PRESS REVIEW
Why Malta is objecting to a new price cap on Russian oil
(timesofmalta.com)
US has its eye on Greek ports
(Kathimerini)
››› Press Review File
FORUM of Shipping
and Logistics
ASSITERMINAL
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
PORTS
The Port of Genoa, FILT, and UILT have declared a five-day strike at the Bettolo Terminal.
Genoa
Fit Cisl Liguria expressed solidarity with the workers
PORTS
The tender for the dredging of the commercial dock basin at the port of Ancona has been published.
Ancona
The removal of approximately 730 thousand cubic meters of sediment is planned
PORTS
Tender for the restoration and enhancement of docks 32 and 33 in the Deep Sea Zone of the port of Savona
Genoa
An investment of over 6.7 million euros is expected
PORTS
There are 1,100 workers in Palermo directly employed in the seaside tourism sector
Palermo
This year, cruise traffic is expected to grow by 9.4% in the port of the Sicilian capital.
PORTS
Port of Trieste: Special Commissioner Gurrieri under investigation for money laundering
Trieste
I am certain - he declared - that I can demonstrate that I acted legally, in full transparency.
SHIPPING
Six-month growth of +9% in freight on the St. Petersburg-India/China maritime route
Fly
FESCO operates six vessels in the service
SHIPYARDS
Vard signs new contract for the construction of two CSOVs
Trieste
The vessels will be used to support operations in the offshore wind sector
LOGISTICS
UIR welcomes the publication of the tender for the digitalization of the logistics chain.
Rome
Di Caterina (ALIS): a concrete tool that enhances the needs of businesses and strengthens the logistics system
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Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio
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