GUPC told the Panama Canal Authority on Monday that its demand for an repayment advance of $400 million is not a shakedown for extra money, but a way to jointly bridge the gap until differences can be sorted out in a legal setting.
Israel’s Globes newspaper said last week Zim and its creditors have signed a debt settlement that includes a 50 percent write-off of Zim’s $3 billion debt, mostly to foreign banks. It said the write-off will be the largest in Israel’s history.
Car Carriers Investment AS, a 50/50 joint venture between a subsidiary of Klaveness Marine Holding and a subsidiary of J.P Morgan Global Maritime Investment Fund, intends to start a voluntary cash offer for all of the carrier’s shares.
The federal agency has, as expected, awarded Great Lakes Dredge & Dock Corp. a $51.9 million option for the project to deepen the Port of Miami’s harbor to 50 feet, which will enable it to receive the largest containerships in operation today.
The petroleum and railroad industries met last week in Washington to discuss how to improve safety related to crude oil transport by train with Transportation Secretary Anthony Foxx. The American Petroleum Institute said strong railcars that do not easily leak in a derailment are important, but the first priority is finding ways to […]
Canada’s St. Lawrence Seaway Management Corp. (SLSMC) said the waterway saw a surge in ships carrying grain in December, but volumes were lower on the waterway in 2013 than in 2012. “A relatively late harvest in the Prairies producing record breaking volumes led to a delay in the movement of grain. Once the […]
Southeastern Freight Lines has opened a new service center in Jacksonville, Fla., the company announced Monday. The new center includes 125 dock doors, 22,000 square feet of office space, and more than 19,000 square feet of warehousing. Southeastern said the new center will help it be more efficient, enhance delivery performance, and […]
The ports of Seattle and Tacoma said last week that they have filed a discussion agreement with the Federal Maritime Commission that will allow them “to gather and share information to identify potential options for responding to unprecedented industry pressures. “The leaders of both ports believe that recent developments in the shipping industry […]
Envirotainer has opened a new service station in Duesseldorf, the capital city of the German state of North Rhine-Westphalia, the company announced Tuesday. The station, one of more than 50 Envirotainer stations worldwide, was opened to ensure availability of temperature-controlled air cargo containers for customers who ship pharmaceutical and healthcare products, the company […]
Logistics and trade professionals are more optimistic about the global economy than they were last year, according to the annual Agility Emerging Markets Logistics Index. The index ranks 45 major markets and points out factors that make them attractive to service providers and industry leaders. More than 800 executives were surveyed. In […]
The International Civil Aviation Organization reports that 2013 was the safest year on record in terms of fatalities for scheduled international air operations. Although the number of fatal accidents involving scheduled commercial operations stayed steady at nine during 2013, ICAO said, fatalities themselves dropped to 173 from 372 in 2012. “These results […]
The U.S. Senate late Thursday passed a $1.1 trillion omnibus spending bill for fiscal year 2014 that consolidates 14 appropriations bills for various federal departments. Funding for several freight-related programs is included.
GUPC, the consortium hired to build a third set of wider locks for the Panama Canal, on Monday qualified its ultimatum to suspend work Jan. 20 if its demands to be reimbursed for $1.6 billion in cost overruns are not met.
The Global Shippers Forum, which includes the U.S. National Industrial Transportation League as one of its members, wants the block exemption for the liner shipping industry in Europe, which is due to expire on April 25, 2015, ended.
The first of the ships is scheduled to be handed over by November. The remaining four containerships are slated to be delivered by the end of the first quarter of 2015.
IAG Cargo has signed a commercial agreement with Qatar Airways to purchase capacity on Qatar Airways-operated freighters, and as a result of the deal, IAG is ending an agreement with Global Supply Systems.
RoadOne IntermodaLogistics has started an initiative with GreenFleet Ventures that will allow North American owner-operators to lease newer vehicles and more environmentally friendly tractors, according to a news release. RoadOne said the program actually began Oct. 1, with 20 tractors being made available to owner-operators. “We are pleased to work closely with […]
Acquired last August by XPO, 3PD is the largest provider of “high-touch, last-mile” deliveries in North America, said Karl Meyer, the unit’s chief executive officer. Meyer, former national delivery manager at Home Depot, founded 3PD in 2001 with his brother Randy, who serves as its chief financial officer, to provide last-mile deliveries in […]
Third-party logistics provider XPO paves a path forward through acquisitions. XPO Logistics, a third-party logistics company that has seemingly made a business of acquisitions over the last two years, started 2014 by buying the third-largest intermodal player in the market, Pacer International. This step into the intermodal arena is somewhat new for XPO, […]
FMC says it will carefully review the proposed P3 Network and G6’s expansion. Last month the U.S. Federal Maritime Commission requested additional information about the proposed expansion of the G6 vessel-sharing agreement (VSA). The carriers in the alliance — APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL, NYK and OOCL — are seeking to […]
