Lufthansa Cargo generated revenues of 2.44 billion euro in 2013, a 9.2-percent decline from 2012’s result. Operating profit in 2013 fell by 26.7 percent to 77 million euro, and operating margin fell by 0.7 points. Freight and mail tonnage fell by 1 percentage point during the same period to 1.72 million tons. […]
SeaLand, the newly founded intra-Americas regional carrier of Maersk Group, said it has appointed the following executives to lead the company under Craig Mygatt, who was named earlier this year as chief executive officer of the new unit. The appointees will join the company within the next couple of months. Alfredo Di Palma […]
A World Trade Organization panel has sided with the U.S. in favor of its claims that China’s export restraints on rare earth metals, tungsten and molybdenum breach WTO rules. They are used in a variety of U.S-made products.
At a waterfront rally Tuesday, the president of the International Longshoremen’s Association along with several business leaders and government officials called for limiting the power of the Waterfront Commission of New York Harbor.
The U.S. Department of Justice filed a lawsuit Monday against Con-way Freight, saying the company violated the Uniformed Services Employment and Reemployment Rights Act. Con-way has denied the allegations.
This year’s outlook for the container shipping industry is “bleak” and publicly-listed global container shipping companies “face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010,” according to the global business-advisory firm AlixPartners, which Tuesday released a new study titled “Change on the Horizon: The 2014 Container Shipping […]
Sen. Barbara Boxer and Rep. Bill Shuster on Tuesday deferred accepting their “Port Person of the Year” awards until the new version of the Water Resources Development Act is passed.
The U.S. Export-Import Bank said one of its guaranteed bonds funded by the capital markets raised $40.7 million for the Brazilian airline VRG Linhas Aéreas S.A. (GOL) for engine-maintenance services performed by Delta TechOps in Atlanta. Delta TechOps is the maintenance, repair and overhaul division of Delta Air Lines. The bond was […]
Hapag-Lloyd said Wednesday that it had a net loss of €97.4 million ($134.3 million) in 2013, smaller than the €128.3 million net loss in 2012, adding that the outlook for liner shipping is brighter. Revenue declined to €6.57 billion in 2013 compared with €6.84 billion the prior year. The company said this was […]
COSCO Pacific, the container terminal and container leasing arm of COSCO, had a profit attributable to equity holders of $702.7 million in 2013 compared with $342.2 million in 2012, with much of the increase coming from the disposal in May of its 21.8 percent equity interest in China International Marine Containers, one of the […]
Fednav said it is the first shipping company to use drones to check ice conditions on the water during a commercial voyage, using video-equipped drones to scout ahead of the vessel in the Labrador Coast.
The U.S. Coast Guard began allowing ships to move through special zones of the Port of Houston’s ship channel Tuesday afternoon after being closed since Saturday due to an oil spill. The first transits started with deep-draft vessels moving outbound from Houston. By 6 p.m., the Houston port pilots reported 14 vessels […]
Obama President Barack Obama and U.S. Trade Representative Michael Froman will meet with European leaders Wednesday in Brussels for a summit on EU-U.S. relations, which will include a discussion of the Transatlantic Trade and Investment Partnership. Anthony Luzzatto Gardner, the U.S. ambassador to the EU, will also be in attendance. The European Council’s […]
Ocean carriers in the new P3 Network will have increased flexibility to optimize the types of vessels deployed on particular service strings, a logistics industry executive said Monday.
Maersk Line, Limited and Rickmers-Linie (Americas) have ended their joint venture, Maersk-Rickmers U.S. Flag Project Carrier, which had operated two multipurpose ships, and have sold the vessels to Thorco Shipping.
As of Monday evening, the Port of Houston remained closed due to the continuation of oil cleanup work underway in the shipping channel. Meanwhile, there are 46 outbound vessels and 47 inbound vessels in the queue for transit in the port.
AirBridgeCargo Airlines will launch twice-weekly, Boeing 747-8 freighter service on Monday to Dallas. The flight will link Dallas/Fort Worth International Airport with Amsterdam Schiphol and Moscow Sheremetyevo.
UPS cut the ribbon Wednesday on a $200-million addition to its Cologne/Bonn Airport facilities, bringing the facility’s total space to more than 105,000 square meters. The upgrade also included eight automated sorters, so the facility can now process 190,000 packages hourly. The development also created new processing capacity for large express freight shipments. […]
Four Fortune 100 companies and Burlington Northern Santa Fe Railway have formed the Alliance for American Competitiveness to push Washington to make strategic investments in infrastructure that support economic growth and job creation by reducing logistics costs relative to other countries. The organization’s start coincides with consideration in Congress this year of legislation […]
So far in its fiscal year (July-February), the Georgia Ports Authority has moved more than 2 million TEUs, an increase of 6.2 percent, the group announced Monday. “The strong growth experienced throughout our business sectors this fiscal year demonstrates the resilience and strength of the Southeast market, and a positive return on the […]
