James Welch: Focusing on LTL Basics Senior Editor Bill Cassidy interviews YRC Worldwide CEO James Welch, who is getting closer to his goal of returning the troubled less-than-truckload operator to profitability. Welch is aiming for an operating profit at YRC Worldwide in 2013; last year the company reported its first quarterly operating profit since 2008. The...
India's Concor Revises Cochin-Bangalore Intermodal Rates Container Corporation of India has announced a "special intermodal rate scheme" for the movement of empty containers between the Vallarpadam International Container Transshipment Terminal at Cochin port and Bangalore, a southern hinterland destination, following requests from terminal operator DP World. From the Vallarpadam terminal to Bangalore, the new hauling rates would...
YRC's Welch Aims for 2013 Operating Profit James Welch is aiming for an operating profit at YRC Worldwide in 2013, following a $24.1 million operating profit in 2012, as he approaches his third year as CEO of the less-than-truckload operator. In 2012, the LTL holding company reported a net loss of $140.4 million, a 60 percent improvement from...
13,208-TEU NYK Hercules Christened in South Korea OOCL celebrated the delivery of its fourth 13,208-TEU ship on April 29. At a ceremony held on Geoje Island in South Korea, the ship, which is leased to Japan's NYK Line, was named NYK Hercules by sponsor Anita Hung. The 366.5-meter vessel is the latest of 10 13,208-TEU container ships OOCL has...
Cargo Tonnage Climbs at Amsterdam Airport Schiphol Cargo through Amsterdam Airport Schiphol rose slightly in the first quarter of 2013 to 366,269 metric tons, up 2.3 percent year-over-year. Freighter movements grew as well, up from 3,765 in 2012 to 3,780. "The figures so far are encouraging," said Enno Osinga, Schiphol Cargo senior vice president. "Recent experiences teach us all...
NC Mayor Tapped for US Transportation Secretary Anthony Foxx, mayor of Charlotte, N.C., has been selected by President Barack Obama to be the new head of the Department of Transportation, NBC News reports. Current Secretary of Transportation Ray LaHood had planned to leave for the president's second term, and NBC News said he is expected to stay until...
Drewry: Demise of Small Carriers Cuts Competition The increasing dominance of super-post-Panamax ships in the major east-west trades is forcing smaller, niche carriers out of business on those lanes and raising the barrier to further entries. This means shippers will have less choice on the major trade lanes and will see less price competition, according to Drewry Maritime...
The Journal of Commerce Expands Asian Editorial Coverage and Event Programming NEWARK, N.J. - The Journal of Commerce has announced the addition of Annie Zhu, Asia editor, to the JOC editorial and event programming team. Based in Shanghai, Zhu will contribute editorial coverage for The Journal of Commerce magazine and JOC.com and contribute to expansion of its Asia conference programming, as...
Microsoft Exec to Join Maersk as Chief Commercial Officer Maersk Line has hired Microsoft's head of global retail sales and marketing as chief commercial officer of the world's largest ocean carrier. Stephen Schuler, a 46-year-old U.S. citizen, will assume his position on May 27, replacing Lucas Vos who is leaving the job on May 1. Schuler, who worked at Microsoft in...
TNT Express First Quarter Revenue Shrank TNT Express's first quarter revenue shrank 4.5 percent to 1.67 billion euros ($2.2 billion) as the Dutch parcel delivery company scaled back international operations to focus on its core European market in the wake of a collapsed takeover bid by its larger U.S. rival United Parcel Service. Operating profit grew to...
Shenzhen, Guangzhou Volumes Down in March Shenzhen and Guangzhou, the second and fourth highest ranked Chinese ports in 2012, showed declining year-over-year numbers in March 2013. The other eight ports of 2012's top 10 had fair to significant growth in March. Month-to-month growth was seen for all ports, as shipments rebounded from the holiday-suppressed levels of...
Little Movement in Rotterdam Bunker Fuel Prices Bunker fuel prices - Rotterdam Full-size image Spot rates for high and low sulfur bunker fuel showed little movement during the week of April 26, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services, Inc. This followed two weeks of significant declines, which were due to...
Rotterdam's Container Volume Grows, But So Do Empties Rotterdam handled 4 percent more ocean containers in the first quarter than a year ago, but an increasing number were empty because of the continuing economic downturn across Europe. The increase, to 2.9 million 20-foot-equivalent units from 2.78 million TEUs in the first three months of 2012, restores traffic to the...
China Shipping to Order 18,000-TEU Ships China Shipping Container Lines plans to order five 18,000 20-foot-equivalent unit container ships, the world's largest, becoming the first carrier to challenge Maersk Line, which will deploy the first vessel of this size in the Asia-Europe trade in June. The new vessels, to be built in South Korea, will raise the...
Container Traffic Declines at Port of Antwerp Antwerp's container traffic declined 2.8 percent in the first quarter from a year ago even as total throughput was up 1.4 percent on sharply higher liquid bulk shipments. Europe's third-largest box hub handled 2.126 million 20-foot-equivalent units in the opening three months of the year, down from 2.188 million TEUs in...
Lambert-St. Louis Airport's Cargo Volume on the Rise Lambert-St. Louis International Airport's reports strong cargo volume in the first quarter.Lambert-St. Louis International Airport reported its total cargo and mail volume for the first three months of 2013 was 37.3 million pounds, increasing 3.5 percent from the same period in 2012. It is the best first quarter cargo results in...
Old Dominion Freight Line's Profit Jumped in First Quarter Old Dominion Freight Line reported net income in the first quarter of 2013 of $40.6 million, increasing 30.4 percent from $31.1 million in the first quarter of 2012. Quarterly revenue for ODFL, No. 5 on JOC's list of Top 25 Less-Than-Truckload Carriers, was $532.6 million, rising 7.1 percent from $497.1 million...
TAL International Showed 'Solid Start' in First Quarter TAL International reported net income in the first quarter of 2013 was $37.5 million, increasing 14.0 percent from $32.9 million in the first quarter of 2012. Quarterly leasing revenue for the intermodal freight container and chassis lessor rose 11.4 percent from $123.2 million in 2012 to $137.2 million in 2013. TAL has...
Danaos on the up Danaos surprised Wall Street Monday after posting a profit that beat analysts' consensus estimate.
Proceed with caution A leading equity analyst is urging clients not to jump the gun when it comes to investments in US-listed tanker stocks.
Time to buy? If you've been thinking about buying a tanker it might be time to pull the trigger.
Weco eyes dry Weco has already conquered the product tanker sector and now the diversified Danish operator has its sights set on dry-bulk.
TEN lines up fundraiser Tsakos Energy Navigation of Greece is putting the power of its pedigree to the test in the capital markets.
Handy for Atlantska Croatia's Atlantska Plovidba has signed for up to four new handysize bulkers in China.
Eco ships shine for Scorpio Eco ship cheerleader Scorpio Tankers has produced more evidence to support its investment in the new breed of vessels.
Maersk's Microsoft coup Maersk Line is bringing in Microsoft's global sale and marketing chief Stephen Schueler as its new COO.
NY raises the roof A long-awaited contract has been awarded that will pave the way for post-panamax containerships to call at the key US East Coast port of New York after the widening of the Panama Canal.
Farstad extends Brazil trip Norwegian owner Farstad has stretched a charter contract on a platform supply vessel in Brazil.
Kuma orders PSVs Norway's Ulstein has won a contract to design two smaller eco platform supply ships (PSVs).
Scorpio shifts up a gear Scorpio Tankers moved into the black in the opening three months of 2013 with the promise of more lofty figures ahead given its huge newbuilding activity during the period.
Ultra replaces Hoskinson Ultrapetrol has drafted in Cecilia Yad to replace company veteran Leonard Hoskinson in the CFO's chair.
Cancellation gains Precious Shipping makes first quarter profit after banking cash from scrapped bulker orders.
V-Marine adds another Vitol's bunker division, V-Marine has added a new tanker to its ranks to boost services in the Thames estuary and the English Channel.
Braemar takes Clarksons pair Braemar Seascope has made its first foray into the Oslo shipbroking scene after picking up two brokers from rival Clarksons.
Limarko posts loss Lithuanian reefer owner Limarko has fallen into the red for the first quarter as revenue slid.
RABT seals steel deal Struggling Swedish owner Rederi AB TransAtlantic has bagged a two-year contract with a Finland-based metal producer.
Uljanik starts with loss Croatian shipyard Uljanik has fallen to a first quarter loss as revenue slumped.
ALG: more staff leaving UK cruise group All Leisure (ALG) is expecting to make more cost savings than originally forecast, but more staff will lose their jobs.
Three quarter fight China Cosco's battle to avoid a third successive loss and dodge a delisting from its home exchange hangs in the balance after a disappointing first quarter performance.
Five seized from boxship Five officers have reportedly been snatched by pirates from a Maersk-chartered boxship off Nigeria, in the second kidnapping incident in the last week.
CIMB boosts Yangzijiang CIMB Securities has raised its outlook on Yangzijiang Shipbuilding after the Chinese company delivered a better than expected set of first quarter earnings.
CSCL pens mega-order Loss-making China Shipping Container Lines has joined Maresk Line in the container shipping big league after ordering a series of 18,000-teu ships in South Korea.
Greek crash kills two Bodies of two seafarers have been pulled from the water off Greece following a crash between a German container vessel and a Turkish bulker this morning.
Vosco loss widens Vietnam Ocean Shipping (Vosco) has posted a bigger loss in the first quarter as revenue fell.
Phoenix to wield axe Jobs and ships could go at Chinese bulker owner CSC Phoenix as it tries to cut losses.
China deliveries fall Ship deliveries have slumped in the first quarter at 39 major Chinese shipyards.
Weak yen drives orders Newbuilding orders secured by Japanese shipbuilders more than doubled last month thanks in part to the weaker yen.
Textainer renews revolver Textainer, the world's largest container lessor based on fleet size, has secured a $170m three-year revolving credit facility.
Petredec orders VLGCs LPG player Petredec has returned to Hyundai Heavy Industries to order up to four VLGC newbuildings.
CSG and MOL book six China Shipping Group and Mitsui OSK Lines (MOL) have formally signed contracts to order six LNG carriers in a $1.5bn deal.
NEWSFLASH: Obama taps Charlotte mayor as DOT head President Obama has named Charlotte Mayor Anthony Foxx to succeed Ray LaHood as secretary of transportation
Another freight payment vendor in trouble The automotive supplier division of the U.S. conglomerate Johnson Controls, Inc. (JCI) has filed a lawsuit in U.S. District Court against its long-time freight payment and audit vendor, TransVantage Solutions.
China Shipping ordering five 18,000-TEU ships It's not clear how the company will deploy the ships. Maersk and most large shipping companies have deployed their largest ships in the Asia-Europe trade lane, but such strings generally require about 10 vessels.
NA railroads show mixed results so far
Sequester cuts hamper outreach on export reform
Analysis: Florida's deep-dredge projects face new hurdles Cargo interests worry the Army Corps of Engineers' slow bureaucracy and the paucity of congressional appropriations for increasing the depth and width of entrances to key commercial ports is increasing the cost of shipping goods.
FAA ends furloughs, blame game begins The U.S. Federal Aviation Administration suspended all employee furloughs and said air traffic control facilities returned to regular staffing levels by Sunday evening after Congress passed legislation Friday giving the agency flexibility.
Revenue drop for TNT Express in 1Q
Chinese air cargo a mixed bag in 2013
MOL's on-time arrival percentages mostly drop in 1Q
Big variance in EU state sulphur reporting EMSA has found many reports 'incomplete and vague' making it difficult to judge compliance.
Back to black for Scorpio Scorpio Tankers books first quarter profit.
IFO prices firm in Rotterdam Bunker prices continue last week's upward trend.
MGO prices show losses in Fujairah Cape Town remains dry.
US ECA: Three detentions and 750 'FONARs' so far No civil penalties or fines issued to around 750 ships that could not find ECA-compliant fuel in time.
CSCL follows Maersk with triple-E order Liner company says vessels will 'raise its core competitiveness.'
HMS up for sale Stake in US company could go for $100 million.
Supplier adds tanker and eyes expansion Second tanker for UK-based V-Marine Fuels.
Fuel oil prices: 'Upward pressure' in second half of May Fuel oil arbitrage arrivals in Singapore could be lower than initially expected.
IFO prices show little movement in Singapore Tokyo Bay was closed for a public holiday.
Goldenport Holdings reports a net loss Voyage expenses increased by $2.9 million.
Hong Kong: Port strike 'to end soon' Agreement to end strike possible within two weeks.
Signs of deteriorating compliance with ECA sulphur limit DNVPS data show very mixed share of samples testing above 1.00% in various ports during 2012.
Fuel tank of fishing vessel ruptured off New Zealand Sureste 700 was carrying up to 23,000 litres of diesel in tank at time of accident.
'Unusually high number' of UAE bunker spills, says P&I club Spillage 'in most cases' occurred when bunkering using road tankers, says West of England P&I club.
'Record scrapping' for less fuel efficient ships in 2012 Navios Partners likely to match 2012 figure.
Brightoil Chairman increases shareholding of group further Buys 30,169,000 shares from open market between March 11 and April 24.
Hong Kong terminals losing HK$5 million daily Cargo is being diverted in month-long dispute.
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