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Evergreen’s Penultimate L-type is Named

June 30, 2015

Evergreen Group today held the naming ceremony for EVER LOVELY, the ninth of its L-type vessels to be built by CSBC Corporation in Taiwan and the penultimate vessel in the thirty strong series. The ceremony took place at CSBC’s Kaohsiung shipyard and was officiated by Mr. Bronson Hsieh, Evergreen’s Second Vice Group Chairman. The official rope-cutting of the new 8,508 TEU vessel was performed by Mrs. Anna U. Obermeier, the wife of Mr. Pier Luigi Maneschi, Chairman of Evergreen Shipping Agency (Italy) S.p.A.

150630 Ever Lovely Naming Ceremony

Caption : (from left to right) Mr. Sun-Quae Lai, CSBC Chairman, Mr. Pier Luigi Maneschi, Chairman of Evergreen Shipping Agency (Italy) S.p.A., his wife Mrs. Anna U. Obermeier and Mr. Bronson Hsieh, Evergreen Second Vice Group Chairman

EVER LOVELY is owned by Evergreen Marine (Singapore) Pte Ltd. The ship is 334.8 meters in length, 45.8 meters wide, and has a draft of 14.2 meters. In common with its L-type sister ships, it can cruise at speeds up to 24.5 knots. With delivery immediately after the event, the vessel joins Evergreen Line’s Far East –South America route and replaces an older unit on the trade.

As a refinement to their original eco-friendly design, the L-type vessels built by CSBC this year are fitted with a brand new energy-saving bow. This improvement enables the ships to further enhance fuel-efficiency and reduce emissions. In light of the success of this design adaptation, Evergreen is conducting a bow refitting program. By the end of this year, fifteen of its L-type ships will be equipped with the improved feature.

As a core value of its corporate policy, Evergreen is dedicated to environmental protection and makes every effort to further cut its carbon emissions. In addition to building a fleet of eco-friendly ships, Evergreen also adopts carbon-cutting concepts throughout its service chain. In a recent development, the carrier introduced an innovative green transport service featuring Eco-trucks in Finland through its agent Greencarrier Liner Agency Oy. The 33-meter long truck can carry two 40’ containers simultaneously on permitted sections of roads, thereby cutting greenhouse gases by 40% compared to the alternative of using two individual trucks.

RTG cranes from Konecranes for the new Baltic port of Bronka

Saint-Petersburg, 15 June 2015

IMG_7413On 11 June the freighter “Meri” was the first vessel handled in the new Russian Baltic port of Bronka. She delivered the first three of a total of ten RTG cranes from Konecranes in Finland. The firm is among the world’s leading manufacturers of cranes and lifting gear. Arriving from Hanko in Finland, the “Meri” was the first merchant ship to transit the new, recently constructed canal providing access to Bronka, then making fast at the already operational Berth 3. Discharge of the three RTG cranes constituted a dress rehearsal for clearance of a vessel at the new terminal in Bronka, in advance of the official start of operations in Bronka in September. Delivered in a state of operational readiness, the RTG cranes rolled ashore from the “Meri” on their own wheels and will in future be deployed at the Port of Bronka container terminal. A second batch of three RTG cranes will be delivered by Konecranes in mid-August.

“We are extremely satisfied with the mutually agreed fitting-out of the RTG cranes ordered from Konecranes, and their punctual delivery. At our new Port of Bronka, we are installing highly efficient, state-of-the-art equipment. We are convinced that with these RTG cranes from Konecranes, we shall achieve high operating reliability and productivity in container handling at our new multi-purpose port,” says Alexei Shukletsov, CEO of the Port of Bronka.

Konecranes possesses immense knowhow in designing port solutions. The rubber-tyred gantry cranes (RTG) supplied for container handling at the Port of Bronka not only fulfil normal performance specifications but also feature numerous standard innovative functions. While cutting maintenance costs, these also boost performance and reliability. This both enhances operational dependability and minimizes costs for maintenance and spares. In the tough operating conditions in the Russian Baltic port of Bronka, that will be a distinct advantage.

About the Port of Bronka

The deepwater Port of Bronka is being built on the Southern bank of the Gulf of Finland, on the outskirts of St. Petersburg and near the municipality of Lomonossov. The multi-functional cargo handling facility comprises two terminals plus a logistics centre. Covering 107 hectares, the container terminal offers five berths along quays extending 1,176 metres. The Ro-Ro terminal covers 57 hectares, and with a quay length of 630 metres permits simultaneous handling of three ships. At the first stage of construction, handling capacity of the container terminal totals 1.45 million TEU per year, plus 260,000 units at the Ro-Ro terminal. A first-stage water depth of 14.4 metres enables the Port of Bronka to handle post-Panamax vessels. The multifunctional Bronka handling facility is scheduled to enter service in September 2015.

“K” LINE PTE LTD Signs Long-Term Contract with EGA

June 22, 2015

“K” LINE PTE LTD is pleased to announce that agreement has been reached with Emirates Global Aluminium (“EGA”) for ocean transport of bauxite ore. The quantity involved is about 5 million tonnes per year using Cape-size bulk vessels, with the contract to commence in late 2010’s over a long period.

“K” Line has been a business partner of Dubai Aluminium (“DUBAL”), now an operating subsidiary of EGA, since its inception in 1979 and has continuously transported its cargo for the past 35 years.  The bauxite ore contract is for the alumina refinery that EGA plans to build in Al Taweelah, UAE.

“K” Line announced its new medium-term management plan “ Value for our Next Century” in March this year. Under this new plan, “K” Line is expanding its  Cape-size carrier business as one of the company’s core business sectors for achieving consistent growth by securing medium- to long-term contracts.

 

The American Club reports solid progress in 2014 despite challenging business climate

International P&I insurer continues positive trend into 2015

NEW YORK, JUNE 18, 2015: The American Club reported solid progress during 2014 at the annual meeting of its members held in New York today. Despite a challenging economic climate, the Club’s business had developed favorably, and 2015 had started on a positive note.

The American Club

Joe Hughes, Chairman and CEO of the American Club’s managers, Shipowners Claims Bureau, Inc.

Tonnage and revenue grew strongly at the outset of 2014, but faded slightly later in the year as freight markets struggled. However, premium pricing remained firm, despite the enduring effect of “churn” as older, higher-rated vessels continued to be replaced by younger, lower-rated ships.

Claims for the Club’s own account had developed at a moderate pace during 2014, extending the favorable trend of recent years. International Group pool claims were also showing a benign emergence at year-end.

Net premiums earned during 2014 were about 5% higher than the figure for the previous year, although total income was down slightly, to $102.3 million, owing to a lower realized investment gain. Incurred losses, at $65.9 million, were marginally higher than the $65.1 million recorded for the previous year.

After-tax comprehensive income for the year was $1.3 million, generating an increase in total members’ equity to $58.6 million as of December 31, 2014, 1% higher than the figure a year earlier. Statutory surplus grew to $64.8 million at year-end, compared with $63.6 million for 2013.

The Club’s investment earnings provided a solid contribution to its overall results. Its fixed income portfolio performed well during 2014 so that, despite lower stock market returns, an overall gain of just under 4% was achieved, bettering relevant benchmarks.

The trends noted in 2014 were asserting themselves with growing vigor into 2015. As of March 31, 2015, the Club’s statutory surplus had increased by 9% to $71 million, while its GAAP (Generally Accepted Accounting Principles) free reserves were up 11% to $65 million. Statutory free reserves per ton were approximately $4.65 at year-end 2014. A further increase, to $5.03, was recorded by the end of the first quarter this year.

Members were also told that the 2012 policy year was being closed as originally budgeted. The small deficit for the year of just over $3 million would be subvented by the Club’s contingency fund which stood at a record figure of nearly $90 million as of March 31, 2015.

Eagle Ocean Marine (EOM), the American Club’s fixed premium facility, which focuses on the operators of smaller vessels in local and regional trades, was also performing well, making a strong contribution to overall results. EOM continued to expand its market footprint during 2014, particularly in Asia. EOM’s combined ratio to date was less than 70%, testimony to its prudent approach to risk selection. This holds the promise of growing success over the years ahead.

In assessing the performance, the Club’s Chairman, Arnold Witte of Donjon Marine Co., Inc., said: “2014 was a difficult year, not least for the shipping community itself. Nevertheless, the American Club made excellent progress. This is being sustained into 2015.”

He continued: “Many challenges lie ahead. The slump in the dry bulk markets continues to cause concern. It is to be hoped that freight rates will rise decently, at least over the medium term, as the global economy improves. The Board remains optimistic about the future and the Club will remain committed to an exceptional level of solidarity with its members.”

Joe Hughes, Chairman and CEO of the American Club’s managers, Shipowners Claims Bureau, Inc., added: “Notwithstanding a difficult business environment, 2014 was a good year. Claims exposures continued to develop favorably, premium pricing stayed firm and investments performed well. In addition EOM saw its profits rise, the Club’s surpluses increased and free reserves per ton strengthened considerably. Our loss prevention and ERM (Enterprise Risk Management) initiatives advanced energetically and our service capabilities were expanded. These positive trends have continued into 2015. It is especially encouraging to see a further increase in the Club’s surplus during the first quarter.”

Mr. Hughes concluded: “The Club’s recent progress will provide a firm foundation for the further development of our agenda over the years ahead. Its business plan anticipates a range of exciting opportunities to expand its outreach further throughout the global maritime community. In this, as in everything else it does, the American Club stands ready to embrace the challenges of a changing world and growing competitive pressures.”

Summary of Annual Results – 2014 Financial Year

  • Net premium income rises by 5% to $94.2 million
  • Total income down marginally to $102.3 million
  • Losses almost static at $65.9 million
  • After tax comprehensive income $1.3 million
  • Members’ equity at $58.6 million
  • Statutory surplus up 2% at $64.8 million

Other Highlights:

  • Statutory surplus up 9% to $71 million as of end Q1 2015
  • 2015 year-to-date retained claims developing modestly
  • Average 5 year pure loss ratio of business renewed at February 20, 2015 improves to 53% compared with 57% a year earlier
  • 2012 yet another policy year being closed as originally budgeted
  • Eagle Ocean Marine grows market footprint with solid profitability

ENDS

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong and Shanghai, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

For more information, please visit the Club’s website http://www.american-club.com/

The full Annual Report 2014 for the American Club can be accessed on its website – http://www.american-club.com/page/annual-report
P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations.

Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

 

“K” Line Honors First “K” Line Group Recipients with Environmental Awards

On June 15, “K” Line honored first “K” Line Group recipients with its Environmental Award.

Under the direction of ““K” Line Environmental Vision 2050,” as our long-term environmental management vision toward 2050, we founded “K” Line Group Environmental Award in order to recognize group-wide efforts for environmental conservation and biological diversity to assure sustainable operations for all executives and employees of both “K” Line and “K” Line Group.

As a result of the wide range of participation by the national and international in-house divisions and the group companies, there were many applicants. Activities that were judged as the finalists and who were selected as recipients in the first awards ceremony are as summarized below.

 150616 K Line Environmental Awards

Special Excellence Award

・Company Sustainability Report (“K” Line (Nederland) B.V.)

(Outline) “K” Line (Nederland) B.V. issued its own Sustainability Report that gives clear and detailed information about their environmental preservation efforts and activities.

Special Awards

White Sand Beach – Lembeh Island – Beach cleaning (LNG Carrier Tangguh Palung)

(Outline) The ship’s officers and crew are involved in volunteer activities for beach cleaning on Lembeh Island in Indonesia while the ship is anchored at the harbor.

・Voluntary cleaning activities around container terminals, warehouses and offices(Nitto Total Logistics Ltd)

(Outline) Voluntary cleaning up activities are being done in collaboration with partner companies at lunch time and before office opening hour. So far the activities have been carried out 48 times with participation of 600 people in total.

・Participating Ecocap recycling movement (Daito Corporation )

(Outline) They have been continuously implementing this program from 2009, collecting PET bottle caps in their offices in order to contribute to resources recycling, as well as sending infection vaccines to developing countries from the profit earned in selling the caps.

・Promotion of Eco-drive by digital tachographs (NAIGAIRIKUUN Co., Ltd. )

(Outline) They introduced online digital tachographs to their trucks, allowing them to know the operation status in real time, and achieve reduction in fuel consumption.

・Realization of energy saving by new second warehouse of BANGKOK COLD STORAGE SERVICE, LTD. (K Line (Thailand) Ltd.)

(Outline) They largely reduced electric power consumption by use of renewable energy and introduction of innovative energy-saving technology in their newly-constructed refrigerated warehouse.

The “K” Line Group is positively committed to continuous engagement in worldwide environmental conservation and contributing to marine and global environmental protection in order to hand on this blue and beautiful ocean to the next generation, set up in “K” Line Environmental Vision 2050” with the goal of achieving consistent growth and corporate value improvement that are incorporated as part of the “K” Line Group’s new medium-term management plan “ Value for our Next Century.”

TT Club Calls for ‘Utmost Good Faith’ in the Container Supply Chain

Speaking at the TOC Container Supply Chain Conference in Rotterdam last week, freight insurance specialist TT Club’s Kevin King called for all parties to take responsibility for minimising the risks inherent in container freight transportation.

London 16 June 2015

As a leading provider of liability, property and cargo insurance to the global freight industry, TT Club has long championed a variety of measures designed to increase safety throughout the container supply chain.  In Rotterdam last week, Kevin King, the Club’s Regional Director EMEA took the opportunity to address an audience of container operators, port and terminal executives and logistics professionals to highlight the crucial importance of an  under lying principle of best practice, which would improve the industry’s safety record.

Kevin King, Regional Director EMEA, TT Club

Kevin King, Regional Director EMEA, TT Club

“As articulated in the UK MAIB’s report into the loss of MSC Napoli, safety margins are being eroded or eliminated,” said King.  “In the context of international trade, all should take up their responsibilities and perhaps abide by the legal doctrine known as ‘utmost good faith’, meaning that all parties must make a full declaration of the material facts.”

King’s speech detailed the issues that impinge on container safety and that are currently being addressed in various ways by regulatory bodies and the industry as a whole.  The Code of Practice for Packing Cargo Transport Units (CTU Code), which was prepared by three UN bodies (ILO/IMO/UNECE) and approved by the IMO at the end of last year, provides guidelines for all aspects of loading and securing CTUs (including trailers, swap bodies and railcars as well as containers).  Although the Code doesn’t have the force of law at this point it can be brought into litigation as describing industry good practice.  “Once a unit is packed there is less scope to correct things,” highlighted King.

Details within the SOLAS Convention (Safety of Life at Sea) concerning verification of gross mass for containers has now been adopted and will become mandatory in July 2016. This relatively modest amendment in essence reiterates the shippers’ responsibility to declare gross mass accurately.  King also pointed out, “It is to be noted that if the ship or terminal loads a container without having required a verified gross mass, they assume the liability in addition to the shipper.”

Additionally, King spoke of the ISO standards to which container manufacturing and maintenance integrity must be adhered and further advised that there is on-going work relating to the design and operation of twistlocks, as well as other ship lashing equipment.

He concluded, “Bringing all issues together concerning the interactions between ship, lashing, container and cargo are vital for safety and profitability in the maritime supply chain and help enhance the understanding of the responsibilities held by all parties in that supply chain.  Whatever is in the ‘box’, how it has been placed there and how it is handled on its journey is so much a matter of trust – each party must act with utmost good faith.”

ENDS

Notes to editors:

TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services.  As a mutual insurer, TT Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

Customers include some of the world’s largest shipping lines, busiest ports, biggest freight forwarders and cargo handling terminals, to companies operating on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.

www.ttclub.com

About Thomas Miller

Thomas Miller is an independent and international provider of insurance, professional and investment services.

Founded in 1885, Thomas Miller’s origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services
  • Building defects insurance

www.thomasmiller.com

‘Few Incidents in Terminals are Unpreventable,’ says TT Club Executive

Speaking at the Trans Middle East Conference in Doha, Qatar last month, Julien Horn, TT Club’s Middle East Regional Executive and Director of TTMS (Gulf), the Network Partner based in Dubai, lay particular emphasis on the role human error plays in creating damaging incidents at cargo handling terminals and other facilities. 

London & Dubai, 11 June 2015

Horn, Julien Mar 2014 #2

According to TT Club’s analysis some 82% of accidents in the port and terminal sector can be attributed to human error.  The Club strongly urges counter measures, particularly professional training and the installation of safety technology, to combat these risks.

TT Club’s research, covering over 9,500 claims of a value in excess of US$10,000 made over the last seven years, and totally over US$425 million, provides compelling data that pinpoints the areas of concern.  Of claims resulting from operational incidents for example, 20% involved lift-trucks, 18% quay cranes and another 18% yard cranes or straddle carriers.  This analysis in itself can guide operators in where best to concentrate their risk planning. However it is on the root causes of accidents that TT Club urges attention to be made.

“The prime concern is one of culture,” declared Horn, “There must be a ‘safety first’ running through the work ethic of all terminal personnel throughout the Middle East, and indeed the world as whole.”  Through a detailed examination of it historical claims, TT Club has found numerous examples of a lacking in safety awareness among terminal personnel.  This ranges from, little understanding of areas in which lifting machinery operates and from straying into prohibited sectors in vehicles or on foot, to wrongly identified weights or cargoes in containers.

Preventative measures are numerous and many are specific to the type and nature of the equipment operated in individual facilities.  Such measures may include quay crane boom anti-collision devices and adequate crane braking systems, regular equipment maintenance regimes, fire prevention systems, adoption of best practice in packing and handling of cargo, and appropriate processing of dangerous goods.

Horn returned to the human aspect, “We often hear descriptions of incidents as, ‘a freak accident’ or ‘just bad luck’. Inevitably, however it is a preventable humanaction that is the cause of these ‘one in a million’ chance occurrences”.  He concluded, “Good, consistent and diligent training regimes are clearly a fundamental building block in eradicating incidents that can result in serious bodily injury and sadly, in some cases, death. But at the heart of a successful risk management policy is the attitude that safety is everyone’s responsibility.”

ENDS

Notes to editors:

TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services.  As a mutual insurer, TT Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

Customers include some of the world’s largest shipping lines, busiest ports, biggest freight forwarders and cargo handling terminals, to companies operating on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.

www.ttclub.com

About Thomas Miller

Thomas Miller is an independent and international provider of insurance, professional and investment services.

Founded in 1885, Thomas Miller’s origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services
  • Building defects insurance

www.thomasmiller.com

Diebold Recognizes Menlo Logistics with 2014 Platinum Award for Supplier Excellence

Amsterdam – June 08 2015 – Menlo Logistics, the $1.7 billion supply chain management subsidiary of Con-way Inc. (NYSE:CNW) announced today that it has been honored by Diebold, Incorporated, with the 2014 Platinum Award for Supplier Excellence.

Diebold is a global leader in providing innovative financial self-service, security, software and service solutions to financial, commercial, retail and other markets. Menlo was one of only two Diebold suppliers — and the only logistics company — to be awarded the Platinum designation, which is Diebold’s highest accolade for superior performance delivered by their suppliers. More than 100 suppliers attended the awards ceremony.

Menlo has been a global supply chain partner of Diebold since 2007 and had previously won the company’s Silver Award six times. Menlo won the Platinum Award on the strength of its integrated logistics solutions for Diebold, which incorporate strategic 4PL supply chain engineering and network optimization services with functional, day-to-day third party logistics (3PL) services.

These services include transportation procurement and management through three global transportation “control tower” centers in Auburn Hills, Michigan, Budapest, Hungary, and Shanghai, China, as well as traditional 3PL services such as warehouse design, management and fulfillment. The solutions include a Diebold-dedicated warehouse operated by Menlo in the U.S. that supports assembly, staging and distribution of finished products as well as component materials to Diebold plants globally.

“Menlo has consistently provided Diebold with outstanding global logistics solutions that meet our strategic and tactical supply chain operation needs,” said Linda Parcher, Diebold vice president and chief supply chain officer. “During the past eight years, through Menlo’s leadership in Lean continuous improvement methods, we have realized substantial improvements in our supply chain operating systems and process innovations that have elevated supply chain performance. Diebold awarding Menlo with a Platinum Award for Supplier Excellence is reflective of the value Menlo has provided during our partnership.

“True collaboration and commitment to continuous improvement are about recognizing and accepting the need for change . . . and change is hard,” said Robert L. Bianco Jr., Menlo’s president. “What I’m most proud of is that over the eight years we’ve had the privilege of being a Diebold supplier, we still sit down regularly and examine what we do and why, and we have the fortitude to ask the hard questions and not settle for the status quo. Our team is still innovating, still applying Lean methods to find new opportunities to create value and reduce costs.”

ENDS

About Menlo Logistics Europe

In Europe, Menlo Logistics maintains seventeen dedicated and multi-client logistics centres located in the Netherlands, Belgium, Czech Republic, Germany and the United Kingdom. This warehouse network can serve as pan-European distribution solution using one or several facilities.

Supply chain and transport management solutions as well as 3PL, warehousing and distribution services are offered to a variety of vertical industry sectors including: lifestyle, fashion & apparel; healthcare and medtech; e-fulfillment and e-returns; manufacturing support; data center logistics; spare parts and aftermarket supply and high tech. The European headquarters is at the multi-client Amsterdam Distribution Centre in the Netherlands. www.menlologistics.com/europe

Follow Menlo on Twitter: http://twitter.com/MenloLogistics

Menlo Logistics images are available at www.con-way.com/en/about_con_way/newsroom.

About Menlo Logistics

Menlo Logistics, LLC, is a US$1.5 billion global provider of logistics, transportation management and supply chain services with operations in five continents, including North America. As a third-party logistics provider, San Francisco, California-based Menlo Logistics’ services range from dedicated contract logistics to warehouse and distribution management, transportation management, supply chain reengineering and other value-added services including packaging, kitting, order fulfilment and light assembly through a strategic network of multi-client and dedicated facilities.

With nearly 20 million square feet of dedicated warehouse space in North America, the Asia Pacific, Europe and Latin America, and industry-leading technologies, Menlo Logistics creates effective, integrated solutions for the transportation and distribution needs of leading businesses around the world. Menlo Logistics, LLC, is a subsidiary of Con-way Inc. (NYSE: CNW), a $5.5 billion diversified freight transportation and logistics company.

“K” Line Establishes Joint Venture Company for Cold Storage Business in Vietnam

Preparations are being advanced for the establishment of a new joint venture company for cold storage business in Vietnam by Kawasaki Kisen Kaisha, Ltd. (“K” Line), Cool Japan Fund Inc. and Japan Logistic Systems Corp.   A press release was issued on September 25, 2014 giving the initial details of this venture.

It is now confirmed that the new joint venture company has received official approval for the establishment from Vietnamese authorities.

Company outline:

  • Name : CLK COLD STORAGE COMPANY LIMITED
  • Location : Lot B2, Tan Dong Hiep B Industrial Zone, Tan Dong Hiep ward, Di An town, Binh Duong province
  • Representative : Tatsuya Yamada
  • Date of establishment : April 25, 2015
  • Start of Business : July 2016 (Plan)
  • Capital : 15,000,000 USD
  • Business activities : Storage and Warehouse Services and related business
  • Investment ratio :  Japan Logistic Systems Corp.: 26%;  “K” Line : 25%;  Cool Japan Fund Inc.: 49%

Location:

Access to Ho Chi Minh City center, international airport and Cat Lai port is attractive.

Features:

The new joint venture company will contribute to popularization of Japanese food in Vietnam by providing high-quality services.

Bangkok Cold Storage, a member company of the “K” Line Group, has been engaged in cold storage business in Bangkok, Thailand for 26 years since 1989. Bangkok Cold Storage’s experience and expertise will be transferred to the new joint venture company with measures for damage prevention and energy saving to also be performed. The sophisticated marine and air transportation network of the “K” Line Group, as well as the knowledge of Japan Logistic Systems Corp., which has been doing business in Vietnam for more than 20 years, will also be utilized to provide incidental services such as delivery arrangements.

“K” Line Change of Executive Officers’ Responsibilities

June 3, 2015

Kawasaki Kisen Kaisha, Ltd. (“K” Line) has decided on changes to Executive Officers’ responsibilities, effective July 1 2015.

To see the full press release please see attached PDF document or click on the following link : CLICK HERE