Momentum Transportation USA has acquired Jacksonville, Fla.-based JIX International Freight Solutions, a freight forwarder working in Asia, Europe, the Middle East, India and the Caribbean for the past three years. Financial details of the transaction were not disclosed. “The addition of JIX International Freight Specialists to the Momentum team adds to our […]
Global transportation and logistics mergers and acquisitions rose by 57 percent in the fourth quarter, while the value of those deals increased by 100 percent, according to a study by PwC US. The firm, which publishes a quarterly analysis of mergers, said there were 66 transportation and logistics transactions deals worth $50 million […]
Cargolux has ordered a new 747-8 freighter, valued at $357.5 million, from Boeing, bringing the airline’s total oder of 747-8 planes to 14. Delivery of the additional plane is expected in March 2015.
DHL has launched Resilience360, a supply-chain risk management tool using Big Data that the company says will help customers protect against supply chain disruptions. The idea comes out of DHL’s “Big Data in Logistics” report, which was released in December. The company is also piloting two additional programs, one of which would anticipate […]
The Government Accountability Office is recommending the Maritime Administration take steps to improve its process when it selects companies to scrap ships. MarAd uses a two-step process by first qualifying ship recycling facilities and then awarding contracts. GAO said MarAd should enhance communications and update its strategic plan “to help ensure the […]
Commerzbank said Thursday, as it reported its year-end results, that it had reduced the size of its shipping portfolio by €4.5 billion ($6.14 billion) — approximately 24 percent — to €14 billion. The bank, Germany’s second largest, said that in trimming the portfolio to that level, it has reached a goal it set for itself […]
CSAV said it plans to raise up to $600 million by selling additional stock capital in order to finance ships and complete its proposed merger with Hapag-Lloyd. The company said that, subject to approval by shareholders at a special meeting in March, it would raise $200 million to complete the finance of seven […]
A massive snow storm slammed much of the East Coast Wednesday and Thursday, shutting down entire cities, transportation systems and governments, as well as ports.
The Long Beach Board of Harbor Commissioners has agreed to fund a $2 million pilot test of a mobile, barge-mounted emissions-control system for cargo ships at berth. The new technology would provide an alternative to shore power.
The chief executive officer and founder of the container shipping analyst SeaIntel Consulting, Lars Jensen, has launched a new company focusing on cyber security in the maritime industry.
Wilh. Wilhelmsen Holding ASA Group (WWH), the Norwegian company that is a part owner in Wallenius Wilhelmsen Logistics and several other roll-on/roll-off cargo companies, said it saw positive growth in the fourth quarter in volumes transported deep sea and continued growth in sales for its maritime services segment. The Wilhelmsen companies have a […]
The American Chamber of Commerce in Shanghai (AmCham Shanghai) last month formed a partnership with China’s top e-commerce platform Alibaba.com to provide Alibaba’s registered users with access to market information and business resources from AmCham Shanghai. The goal of the partnership is to facilitate trade between the United States and China, as well […]
Cathay Pacific Airways and Dragonair experienced a decline in cargo and mail tonnage in January, compared to January 2013, according to figures released Thursday by Cathay Pacific. The two airlines carried 130,955 tons of cargo and mail in January, a decrease of 1.4 percent compared to the same month last year. At the […]
The Port of Portland, Ore. will pay container carriers an incentive to move containers through the port. Commissioners voted 7-1 Wednesday in favor of the plan to pay carriers $20 for each container they move through the port, plus up to $25 per container if carriers grow their volumes at the port. […]
Rep. John Garamendi, D-CA, withdrew a proposed amendment to the Coast Guard Reauthorization Bill that would have required all export of liquefied natural gas (LNG) to be carried on U.S.-built, flagged- and crewed-ships.
MOL and its car carrier affiliate Nissan Motor Car Carrier Co. (NMCC) will pay a $1,275,000 penalty under a compromise agreement announced by the Federal Maritime Commission (FMC) on Wednesday. FMC said, “The compromise agreement resolved allegations that MOL and NMCC violated section 10(a) of the Shipping Act, 46 U.S.C. § 41102(b), by […]
The container leasing company Textainer reported strong growth in revenue last year, but a drop in profit. Textainer said it had a profit of $45.5 million in the fourth quarter, about 25 percent less than in the same period 2012. Revenue was $137.5 million for the fourth quarter, an increase of 8 percent […]
Analysts expect an 8.4-percent drop in retail imports at domestic container ports in February compared to the same period in 2013, according to the Global Port Tracker. While noting that February is usually the slowest month of the year, the report predicts a drop to 1.17 million TEUs for the month. This drop […]
Great Lakes iron ore shipments fell by 37 percent in January when compared to the same period a year ago, finishing the month at 2 million tons, according to the Lake Carriers’ Association. The group said inclement weather, which forced trips that should have taken three days into week-long voyages, and delays at […]
Due to another spat of inclement weather, Delta cancelled 573 flights throughout the Southeast Tuesday and by that afternoon had already pulled the plug on 1,584 flights scheduled for Wednesday.
