Hans Jakob Kruse, who served as chairman of Hapag-Lloyd’s executive board for two decades, died Tuesday in Hamburg. Kruse, 84, was chairman from 1973 to 1993. “Hapag-Lloyd is mourning the loss of a visionary and beloved chairman, whose substantial contribution shaped our company as well as the global shipping industry,” said Michael […]
Opponents of the practice of the demolition of old ships on beaches in Southeast Asian countries took their campaign to the headquarters of the German Shipowners Association in Hamburg Friday.
Tropical Shipping, a specialist in moving cargo to destinations in the Bahamas and Caribbean, had flat operating earnings in the fourth quarter, but a 50-percent increase in earnings before interest and tax (EBIT) for the full year. EBIT was $9 million in the fourth quarter of 2013 — the same as in the […]
Li & Fung said it is establishing a vendor-support services business unit to enhance factory and worker safety, raise standards, and improve operational efficiencies in its global supply chain. A leading sourcing company, Li & Fung provides services to about 15,000 factories in its vendor base to enhance their competitiveness, operational efficiency and […]
MOL has confirmed press reports that it has filed a lawsuit in Tokyo against the shipyard Mitsubishi Heavy Industry over the break-up and eventual sinking of the containership MOL Comfort last year. Press reports say the Japanese shipping company is seeking compensation for the value of the ship as well as the costs […]
TOTE Inc. has selected Pivotal LNG and WesPac Midstream to provide liquefied natural gas to fuel two, dual-fuel LNG container ships TOTE has ordered that will homeport in Jacksonville, Fla., in two years. Pivotal LNG is a subsidiary of AGL Resources, an Atlanta-based energy services holding company that owns and operates five liquefaction facilities. […]
A reauthorization bill for the U.S. Coast Guard introduced on Thursday includes provisions that its authors say will help strengthen the U.S. Merchant Marine and proposals that they say will increase oversight and reform the Federal Maritime Commission. The Coast Guard and Maritime Transportation Act of 2014 (H.R. 4005) was introduced in the […]
The U.S. trade deficit also improved $63.1 billion from the past year to $471.5 billion. Merchandise exports to the 20 economies that have trade agreements with the United States reached a record $732 billion.
IAG Cargo has replaced the Boeing 747 on British Airways commercial flights to Johannesburg with an A380. With the larger plane, which features better temperature controls, IAG Cargo will be targeting perishable and pharmaceutical companies. This plane switch signals one of the opening steps in what is to be a lengthy fleet […]
To help officials prepare for the 2014 Winter Olympic Games, AirBridgeCargo said it has delivered more than 1,800 tons of airfreight to Sochi, Russia, over the past year. ABC’s parent company, Volga Dnepr Group, said the carrier had flown more than 30 charter flights to Sochi by the beginning of 2014. “Usually […]
The U.S. Export-Import Bank said it’s now open for business in Burma to help finance short-term and medium-term U.S. export sales. “After a diligent review, the bank’s board reached this decision — which will improve trade flows between our two countries and help reintegrate Burma into the global economy,” said Ex-Im Bank Board […]
The agency in charge of managing and operating the Panama Canal on Wednesday demanded that the consortium building a third set of locks resume work on the project after negotiations to resolve cost overruns ended.
“Liner shipping is becoming less and less reliable as operators ignore service standards in the rush to cut costs. The bad news for shippers is that the situation is only going to get worse,” Drewry said.
Once the Panama Canal expansion is complete, the larger route will quickly regain market share that had been ceded to the Suez Canal, according to Curtis Foltz, executive director of the Georgia Ports Authority.
Canadian National has reached a tentative agreement with the Teamsters Canada Rail Conference, the company announced, which eliminates the union’s threat of a strike.
Ports America Companies said it had refinanced debt facilities of both Ports America, Inc., (PAI) and MTC Holdings, Inc., (MTC) into a single, unified capital structure. The refinancing consisted of a new 5-year, $475-million senior secured credit facility, including $170 million of revolving credit and letter of credit facilities, and a new 7-year, […]
After failing to reach a deal by themselves, UPS and the Independent Pilots Association, which represents UPS pilots, have requested mediation by the National Mediation Board to resolve an ongoing contract dispute. The contract, which falls under the Railway Labor Act, has been amenable since Dec. 31, 2011. “Not only is NMB […]
Air cargo markets were slow to progress in the first half of 2013, the International Air Transport Association said, and though improvement came in the second half, the industry is forced to face the facts of “changing” industry dynamics.
In 2013, Old Dominion saw a net income of $206.1 million, a 21.6-percent increase compared to 2012, a result supported by a 19.4-percent increase in fourth-quarter income.
International Shipholding Corp. (ISC) — the parent company of several shipping companies including Central Gulf Lines, Waterman, United Ocean Services and CG Railway — said it will return its headquarters to New Orleans. After Hurricane Katrina, ISC relocated its corporate headquarters to Mobile. In New Orleans, ISC will create 100 new jobs […]
