|AUGUST 30, 2013|
- CMA CGM posts US$268 million net profit, mostly from Terminal Link sale
- PSA No 1 in top 10 terminal list followed by Hutchison, APMT, DP World
- Danish shipping giant Maersk drops Iceland, Denmark's former colony
- Hong Kong July trade value: Exports rise 10.6pc, imports up 8.3pc
- Indonesian exports will stay robust, despite economic woes: Maersk report
- Korea's HMM, Hanjin under severe stress as debt load mounts: Drewry
- Xiamen starts electronic release pilot run for inbound containers
- South Africa fumbles chance to attract many ships through bad bunkering
- Phnom Penh box terminal's shallows, poor connectivity impedes success
- Jiaxing's two multi-use terminals to put into operation near Shanghai
- LA truckers march back to work at end of 24-hour strike for higher wages
- Indonesia to reduce imports, lift investment to boost local currency
- Dredging at the Port of Santos attracts larger containerships to Brazil
- ICTSI's greenfield Argentine container terminal enlists Cargotec tools
- Polish state railway sets up Warsaw IPO after striking deal with unions
- Chapman Freeborn, Air Libya offer new Tripoli-Benghazi air cargo service
- Chengdu airport rises as important international hub for western China
- Weak Indonesia rupiah appears to pose no problem for air freight growth
- Miami's Centurion Air Cargo gets its first B747-400F from Cargolux fleet
|AUGUST 29, 2013|
- Independent forwarders seen benefiting from carriers focusing on core services
- India conveys strong concerns to Iran over detention of oil tanker
- Maersk's first 18,000-TEU Triple-E receives grand welcome at Rotterdam port on maiden voyage
- Plan formulated to put China s shipbuilding industry back on track
- Tanker rates may recover with fleets biggest expansion coming to an end
- India can enhance tea exports to Iran by 80 pc in FY14: ITA
- India objects to EU's pesticide residue level specifications
- July soyameal exports slump by 36.42 pc
- Harbour Maintenance Tax likely to be replaced to make US ports more competitive
- Vasan asks Major Port Chairmen to take precautionary measures in face of enhanced threat perception
- Depreciating INR a boon for exporters
- Domestic insurance pool to be set up soon for Iranian crude imports
- Engineering exports ride on falling
- Essar Projects wins INR 700 cr. EPCC order from BPCL
|AUGUST 30, 2013|
- Ukraine: Lemtrans expands rail transit services
- Turkish Airline to serve 104th country
- Knorr-Bremse acquires Railcare in UK
- Yusen Logistics expands in southern Thailand
- LUG to serve IAG Cargo in Frankfurt and Munich
- Menlo to be global forwarder manager for Maquet
- Hellmann joins forces with UK Pallets
- CMA CGM's Q2 results reflect industry's contraction
- Saudia to cancel service to Nigerian city
- Nagoya and Antwerp sign sister port agreement
- XTRA Lease adds free tracking to long-term leased trailers
- GLS Italy granted AEO-F certificate
- Groupe Eurotunnel welcomes new director
- New managing director for BLG Autorail
|AUGUST 29, 2013|
- Everett port board to vote on Mukilteo Tank Farm nod
- Fire breaks out onboard Maersk Line container ship
- Seattle artist's work on display at Portland International Airport
- Oregon, Washinton governors announce Columbia Crossing deal
- U.S. rail freight traffic rolls to positive side for week
|AUGUST 29, 2013|
- ILA Clerks Walk Out in Charleston
International Longshoremen's Association clerks and checkers at the Port of Charleston walked off their jobs on Thursday after refusing assignment to additional duties, union officials said. "The port's at a standstill," said Kenneth Riley, president of ILA Local 1422, representing general longshore workers. The situation remained fluid late Thursday, and it was...
- Changes on the Horizon
The Port of Long Beach is not the only West Coast container port that is beginning the process of finding a new executive director. At a special meeting of the Seattle Port Commission held on April 2, it was noted that port CEO Tay Yoshitani plans to retire next year. Finding...
- Containers on Fire on Maersk Ship South of Suez
Maersk Line said Thursday that the Maersk Kampala was fighting a fire in two containers within the foremost bays on deck. The container ship, which has a nominal capacity of 7,070 20-foot-equivalent units, was fully maneuverable but drifting south of the Suez Canal. Maersk said all crew were accounted for. No injuries...
- ILWU Protests Threaten PNW Productivity
The International Longshore and Warehouse Union, in a determined effort to protect its jurisdiction - or carve out new jurisdiction - is escalating its picketing activities in Seattle, Portland and Vancouver, Wash. The ongoing demonstrations, which have turned ugly at times, have resulted in occasional disruptions in cargo-handling at the container...
- To Logistics Officials: Beware of Labor Day Theft
Logistics executives should be wary of an increase in theft over the U.S. Labor Day weekend. "Holiday weekends notoriously show an increase in cargo theft risks for transportation companies, shippers and manufacturers," said FreightWatch International, which provides logistics security services. It said in a bulletin on Thursday that organized theft rings are...
- Fast-Growing Prime Raises Truck Driver Pay
The nation's largest refrigerated truckload carrier is raising pay for company drivers and owner-operators following a "stronger fiscal performance." Prime, the seventh-largest truckload carrier, according to SJ Consulting Group, bumped up pay for over-the-road company drivers by 1 cent per mile this month. Owner-operator line-haul revenue increased 4 cents per mile over...
- California Ports Power Up Attack on Ship Emissions
The ports of Los Angeles and Long Beach have realized unprecedented reductions in harmful diesel emissions, especially from trucks, since the unveiling of their joint Clean Air Action Plan in 2006. Now they anticipate significant emissions reductions from vessels. The ports in mid-August each released their emissions inventories for 2012. Regularly...
- GCS Taps Rising Demand for Car Parts in Russia
Luxgen7 SUVGlobal Container Services has won two automotive supply chain contracts linked to growing demand for cars from Russia's middle classes. The intermodal company is now managing the supply of auto parts from the Russian Black Sea port of Novorossiysk to assembly plants in Cherkessk for Taiwanese manufacturer Luxgen and Chinese...
- Q&A: Assessing Excessive Value
Q: Should a carrier be concerned when a bill of lading has the "Where the rate is dependent upon value ... not to be exceeding $xxxx" section completed and the declared amount far exceeds the tariff (pricing) page for the shipper? Specifically, a shipper recently tendered us a six-pallet shipment weighing...
- Cosco Reports $366 Million First Half Loss
Cosco Container Lines reported a loss of $366 million for the first half of 2013, China Cosco Holdings Co. said in a filing to the Shanghai Stock Exchange Thursday. Cosco's revenue from container shipping fell 1.4 percent even though its container volume rose 8.7 percent in the first half, as average...
- NAFTA Freight Trade Declined in June
Freight trade by value between the U.S. and its North American Free Trade Agreement partners, Mexico and Canada, in June fell 5.2 percent from May to $93.5 billion and dipped 0.8 percent year-over-year. The June decline was largely because truck trade by value dropped 5.3 percent from the prior month and...
- ILA in Virginia, Baltimore to Vote Friday on Local Pacts
International Longshoremen's Association members in Virginia and Baltimore will vote Friday on proposed local contracts to supplement the coastwide master contract the ILA and employers ratified last spring. ILA President Harold Daggett sent a letter to ILA members in Virginia "strongly" urging ratification. ILA members in the port have twice rejected...
- Zim's 2Q Loss an Improvement on First Quarter
Zim Integrated Shipping Services reported a $72 million net loss for its second quarter, up from a $47 million loss in the same period of 2012, but an improvement on the $110 million deficit in the 2013 first quarter. Efficiency gains offset the impact of a weakening global container market. The...
- Tampa Port Authority voted "Simply the Best" by Logistics Management readers
TAMPA, Fla.-Readers participating in Logistics Management magazine's 30th Annual "Quest for Quality" reader poll ranked the Tampa Port Authority first in seaports for world-class customer service, followed by the ports of Houston and Galveston, Texas. "We are honored to have been recognized by our customers and the leaders of the transportation...
- Kuehne + Nagel Accelerates Implementation of INTTRA eInvoice Solution
PARSIPPANY, N.J.--(BUSINESS WIRE)--INTTRA, the world's largest multi-carrier e-commerce network for ocean shipping, today announced that Kuehne + Nagel, one of the world's leading logistics companies, has accelerated its global implementation of INTTRA eInvoice-an electronic invoice presentment and dispute management solution for ocean shipping. Kuehne + Nagel was the first company...
- Truckers Receive First NYCT Bridge Toll Credits
Motor carriers serving New York Container Terminal on Staten Island have begun receiving payments to offset increases in tolls on bridges from New Jersey. After testing earlier this month, the first regular reimbursements were direct-deposited into motor carriers' bank accounts this week, said Jim Devine, chief executive of GCT USA, which...
- CargoWise announces CMA CGM Logistics, a CMA CGM Group subsidiary, will adopt ediEnterprise
Milton Keynes, UK, August 28, 2013 - CargoWise®, a global leader in technology solutions for logistics service providers (LSPs), announced CMA CGM Logistics will adopt ediEnterprise through WiseCloud across its offices in 50 countries over the next 18 months, following two successful pilots. CMA CGM Logistics is a subsidiary of the CMA...
- Profit Grows at DP World Despite Drop in Traffic
DP World booked a 9.1 percent increase in first half profit but warned the outlook remains uncertain and challenging in some regions. The world's third-largest port operator said net income rose to $264 million in the six months through June from $242 million a year earlier, and revenue shrunk 1.3 percent...
- CMA CGM Profit Soars on Sale of Ports Unit Stake
CMA CGM's second quarter net income jumped to $268 million from $169 million a year ago, mainly because of the sale of a large minority stake in its ports unit. This pushed the world's third-largest container carrier to a first half profit of $364 million, compared with a $79 million loss...
|AUGUST 29, 2013|
- Statoil extends
Eidesvik Offshore of Norway has secured another year of employment for one of its LNG-powered platform-supply vessels (PSVs).
- Euronav resets debt clock
Euronav of Belgium let out a sigh of relief Thursday after striking a deal with lenders that gives it more time to repay debt tied to one of its floating storage and offloading units (FSOs).
- GMLP falls short
Golar LNG Partners (Golar Partners) watched its bottom line slide in the second-quarter but management is confident that the company will increase earnings and distributions in the longer term.
- Golar LNG profit up
Golar LNG has reported a big jump in first half income after stripping out the earnings of spin-off of Golar LNG Partners.
- China Cosco sells again
China Cosco Holding Co (CCHC) has disposed of more non-core assets in a move that may see it stave off a third year of losses that could see it delisted in Shanghai.
- Nordic closer to safety
Nordic Shipholding appears to be closer to attracting the fresh investment needed to save the company from going under.
- Cosco slashes loss
Under-pressure state giant China Cosco Holdings Co (CCHC) has chopped 80% off its first-half loss despite a drop in revenue.
- Dof inks Kiwi contract
Dof Subsea has clinched a contract worth NOK 150m ($24.7m) in New Zealand.
- Nord LB bounces back
Norddeutsche Landesbank (Nord LB) is back in profit after making a losing start to the year.
- Sale boost for CMA CGM
French container line CMA CGM's second quarter profit has been bulked up by the sale of its share in ports company Terminal Link.
- Pac Basin snaps up resales
Hong Kong-listed owner Pacific Basin has continued its fleet expansion with a deal for two handymax resales.
- DSME in mega box deal?
Daewoo Shipbuilding & Marine Engineering (DSME) appears to have booked an order for three more mega boxships.
- Erria profit chopped
Danish shipmanager Erria has turned in weaker revenue and profit after selling its chemical tankers last year.
- BWO in recovery
The financial impact of a delayed FPSO is now a distant memory for BW Offshore (BWO) as the company reported a huge leap in second quarter earnings.
- Henry sells stock
James Fisher and Sons chief executive Nick Henry has offload shares in the UK company, financial disclosures show.
- Red ink reduced
Israel's Zim has cut its first-half loss as revenue grew in challenging markets.
- DPW sees profit uptick
Dubai-based port group DP World has reported a rise in first half earnings as revenue per teu grew.
- Zim given more time
Restructuring Israeli container line Zim has won more breathing space from creditors to put in place its long term refinancing plan.
- Finance costs dent ICG
Ferry operator Irish Continental Group (ICG) has seen net earnings dip on higher finance costs in the first half, but operating profit was up.
- NOCC builds earnings
Norwegian Car Carriers (NOCC) returned to the black in the second quarter boosted by increased revenue from new tonnage.
- Jinhui ekes out a profit
Jinhui Shipping & Transport has seen things go from bad to worse as the company just managed to post a profit for the second quarter.
- Ezion can't stop fixing
Ezion Holdings can't seem to stop agreeing contracts with the company confirming its third major deal in as many months.
- Ross makes dry move
Wilbur Ross has teamed up with the Conti Group and private equity to launch a new dry bulk focused venture.
- Awilco eyes newbuilds
Awilco Drilling is reportedly looking to order up to three North Sea capable semi-submersible drilling rigs.
- SFI takes market's pulse
Ship Finance International (SFI) doesn't plan on pulling the plug on its fleet expansion campaign anytime soon, its chief executive told investors Wednesday.
- No fear
Ship Finance International (SFI) does not appear to be too concerned about its exposure to cash-strapped compatriot Frontline.
- There will be blood
Many market researchers will tell you they don't have a crystal ball but there are tools of the trade that can improve the accuracy of their freight rate and earnings forecasts.
|AUGUST 29, 2013|
- National supply chain network in pilot stage
- NAFTA trade stagnated in June
- Zim reports positive quarter as restructuring continues
The Israel-based container shipping company said it had EBITDA in the second quarter of 2013 of $36 million, compared to a negative EBITDA of $6 million in the previous quarter and $46 million in the second quarter of 2012.
- CargoWise, CMA CGM Logistics link up
- CEVA opens pharma facility in Miami
- CMA CGM's profit benefits from terminal divestment
The world's third largest container carrier said Thursday it had a consolidated net profit of $268 million in the second quarter, up from $169 million in the same 2012 period.
- BNSF lists investments for 3 states
The railroad on Tuesday identified projects in Washington, Montana and North Dakota that will receive a portion of its record $4.3 billion for capital investment in 2013. It said the expansion is needed to keep up with demand.
- Ag shippers skeptical of TSA rate increase
- Ross investor in new dry bulk company
- PTA Holdings predicts 20% revenue rise
- Old Dominion releases app
- DHL continues push into Indonesia
- DOT awards hazmat preparedness grants
The Hazardous Materials Emergency Preparedness grants, which are issued by the department's Pipeline and Hazardous Materials Safety Administration, comes from user fees paid by hazardous materials carriers.
- U.S., Uruguay tackle trade facilitation
- Schenker moves into new headquarters
- STB increases user fees
- FMC reviews 9 OTI license applications
- Where the sun don't shine
- B2C software suites make virtual shopping possible
- Fruit fight
|AUGUST 29, 2013|
- CMES pens contract for four 'eco-friendly' VLCCs
VLCCs will adopt eco-friendly design and save up to 20% in fuel consumption.
- Prices continue firming across Europe
But little price movement was seen in Rotterdam.
- Prices mainly firm in Fujairah
Prices were soft in the Suez bunker market.
- Bunkering halted on Taiwan's east coast
Storm expected to blow over by Friday.
- Quadrise ready for sea trials
Successful conclusion moves company closer to commercial production.
- Fuel oil stocks at Singapore hit ten-week high
Distillate inventories also up at Southeast Asian bunkering hub.
- Asian IFO prices stick to upward trend
Lacklustre demand seen at most key ports.
- British port expands berth
To make way for two, new generation containerships.
- Company name change for Romanian bunker player
Trading team beefed up with new hire.
- Baltic Marine Bunker makes operational debut
Company performs first bunkering operation at Tallinn port.
- Reports: New rule could affect Ust-Luga bunker sector
Bunkering to be conducted only at berths of existing oil terminals.
- Chinese fuel oil inventories up on week
Partly due to imports of bonded bunker products from Singapore.
- NAT vessels becoming 'greener and greener', says chairman
Firm is also 'in a solid financial condition', says Herbjorn Hansson.
- Euronav stays on retrofit track
Firm took measures in May to reduce fuel consumption across its spot fleet.