Jeffrey S. Musser has been elected by the Expeditors International Board of Directors to succeed Peter Rose as director, president and chief executive officer. A long-time Expeditors employee, Musser currently works as the firm’s executive vice president and chief information officer, which has been his role for the past nine years. Expeditors […]
‘Tis the day after Christmas, but no matter how carefully they hung their stockings, for many port executives funding for dredging and port infrastructure remains just a vision dancing in their heads. The American Association of Port Authorities, however, is trying to raise the public’s awareness of the role ports play in bringing […]
Kinder Morgan Energy Partners, L.P., said Monday it had entered into a definitive agreement to acquire American Petroleum Tankers (APT) and State Class Tankers (SCT) from affiliates of The Blackstone Group and Cerberus Capital Management for $962 million in cash. The two tanker companies are engaged in the domestic or Jones Act marine […]
Maersk, in its Dec. 17 “Weekly Highlights” newsletter, has laid out contingency plans in connection with the upcoming Chinese New Year period. “We have endeavored to balance our network capacity to match the reduced demand for the three week period. We aim to minimize the impact to our customers by securing alternate routings […]
Canada’s Port of Sept-Îles on the Saint Lawrence Seaway said it set a new record earlier this month when it loaded 302,264 tons of iron ore on a ship, which it said was the largest amount of bulk cargo ever loaded onto a ship in North American maritime history. It said on Sunday, […]
The per-kilo price of air freight on the east-west trade lane continued to rise in November, inching up to $3.81, according to Drewry. The November result is the highest rates have been in at least a year, and it represents a rise of nearly 20 cents, year over year. In October, Drewry measured […]
A document on the Korean shipping company’s website said the plan involves repayment of debt; financial aid by shareholders and creditors; and a plan for improvement in operations.
The Danish foundation that controls the A.P. Møller-Maersk conglomerate, A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal, has restructured. A.P. Møller-Maersk said the foundation, which owns 41.51 percent of the company’s shares and has 51.09 percent of the votes, has “transferred all of its shares in the company to a […]
Vitran has received an unsolicited offer from TransForce to acquire all of its outstanding common shares for $6.50 per share, upping the Dec. 9 acquisition offer proposed by Manitoulin Transport.
CMA CGM will increase its cargo rates from all Asian ports to East Africa, it announced Friday. Effective Jan. 6, CMA CGM will charge $100 more per TEU (dry cargo, OOGs, break-bulk and reefer cargo) from all Asian ports to East Africa.
NOL Group has appointed 30-year logistics industry veteran Beat Simon to president of its APL Logistics subsidiary, effective March 1. Simon joins APL Logistics from Agility, where he has held senior management positions since 2006. He recently served as Agility’s chief executive officer in Europe. Between 2000 and 2006, he served in […]
The American Trucking Associations’ For-Hire seasonally adjusted Truck Tonnage Index increased 2.7 percent in November, after falling 1.9 percent in October, the association reported. “Tonnage snapped back in November, which fits with several other economic indicators,” said ATA Chief Economist Bob Costello. “Assuming that December isn’t weak, tonnage growth this year will be […]
In a letter to the European Parliament, the World Shipping Council claimed the EU’s rationale for vessel emissions regulations appears varied and unclear.
The U.S. Export-Import Bank had a record year for small businesses, approving more than 3,400 small-business authorizations, according to its annual report released Friday. “I am proud to announce that nearly 90 percent of the bank’s transactions in FY2013 were for small businesses — an all-time high,” said Ex-Im Bank Chairman and President […]
Natural gas fueling infrastructure continues to sprout up around the country, enabling trucking companies to take advantage of the cheaper, cleaner-burning alternative to diesel fuel. U.S. Oil recently announced that it will build a compressed natural gas station in Fort Wayne, Ind., based on a use commitment by anchor customer Dart Transit, a […]
The Tampa Port Authority announced Friday that the port’s board of commissioners has approved a terminal use agreement with its new strategic partner AMPORTS to process new automobiles, trucks and other vehicles for delivery by truck and rail to Southeast markets within and outside of Florida. In July, the Tampa Port Authority and […]
United Arab Shipping Co., which has nearly doubled U.S. cargo volumes this year, plans to consolidate most jobs, including employees from its U.S. headquarters of United Arab Agencies in Cranford, N.J., to Atlanta next summer. Anil Vitarana, president of United Arab Agencies, said about 150 of its 170 jobs, including most back office […]
Descartes acquired Impatex Freight Software for $8.3 million and the business-to-business supply chain integration and e-invoicing solutions provider Compudata for $17.9 million.
The first meeting of the Port of New York/New Jersey’s Port Performance task force is scheduled for today. The port authority earlier this month established the advisory group of industry stakeholders to identify problems with the efficient movement of cargo and to recommend solutions. The task force will examine areas such as terminal optimization, […]
Ecu-Line, a non-vessel-operating common carrier based in Antwerp and subsidiary of the Avvashya Group in India, has partnered with FCL Marine Agencies in Rotterdam. FCL Marine is a neutral NVO specializing in full containerloads, while Ecu-Line’s primary market is less-than-containerload shipments. Both NVOs draw their freight from forwarders. Ecu-Line said it will […]
