When I read that two former executives at the state run-Vietnam National Shipping Lines (Vinalines) were sentenced to death Monday for alleged embezzlement, I was troubled.
FedEx on Wednesday reported revenue of $11.4 billion during the second quarter of its fiscal year, up 3 percent from the second quarter of last year, and an income of $500 million, up 14 percent, year over year.
While the 2013 shipping season saw overall fluctuating cargo figures, U.S. ports on the Great Lakes have continued to outperform their initial projections. Through November, the Port of Toledo saw increases in all major cargo categories with the exception of iron ore. General cargo shipments at Midwest Terminals of Toledo have more than […]
The Lake Carriers’ Association announced yesterday that U.S.-flag Great Lakes freighters experienced a decrease of 4.7 percent in dry-bulk cargo compared to a year ago, with weather delays being the key factor in the decreases. The total tonnage was 8.7-percent below November’s long-term average and down 11.2 percent from the 9.8 million tons […]
Nicholas Calio, president of Airlines for America, called for “a holistic approach” that confronts domestic aviation’s profitability during a hearing of the Transportation and Infrastructure Committee convened to discuss the state of aviation.
Some flag states in the European Union have failed to comply with rules regarding maritime standards, according to a recently released European Commission compliance report. Current EU rules set specific standards for flag states that are to be in place by January. Despite some states’ progress, Portugal, Ireland and all landlocked flag states […]
IAG Cargo announced today the expansion of its Constant Climate network into airports in Prague, Vienna, Las Palmas, Basel and Zurich. As IAG Cargo’s offering for temperature-controlled pharmaceuticals, the expansion of Constant Climate into these locations allows it to support businesses operating from key pharmaceutical hubs, most notably Switzerland, the company said. […]
Yamaha Motor Europe and Yusen Logistics Benelux have announced a deal that will allow Yusen to take over some of Yamaha’s European warehouse operational activities in January. Yusen Logistics Benelux will take control of the warehouse function in the European spare parts distribution center of Yamaha Motor Europe at Schiphol-Rijk, the Netherlands. As […]
The U.S. Export-Import Bank has a new group of members for its advisory committee, which will hold the first meeting of its fiscal year Wednesday in Washington.
Members of the U.S. Federal Maritime Commission met with regulators from China and the European Commission on Tuesday as all three review plans by container shipping companies to form new or expanded mega-alliances. While most of the discussions were held privately by the regulators, FMC Chairman Mario Cordero and members of the delegations […]
The supply chain design software provider LLamasoft has released a whitepaper detailing the benefits of simulating supply chain performance. The paper describes how shippers and logistics services providers can gain insight into how a supply chain might react to various circumstances. “By creating a detailed model of the end-to-end supply chain that […]
A slight improvement is around the corner at Cargolux, but this will be fueled more by freighter capacity exiting the market than a turnaround in cargo activity. This loss of capacity isn’t a short-term phenomenon, either.
Truck rates have increased by at least 1.6 percent since the Federal Motor Carrier Safety Administration’s new hours of service rules went into effect July 1, but the rule has caused an industry-wide productivity loss of between 3 percent and 5 percent, according to DAT’s Mark Montague. “That means the carriers will be […]
In 2013, global air cargo traffic increased just one percent, the equivalent of about 51 million tons of freight carried, according to the International Civil Aviation Organization. In addition, ICAO reports that the Asia/Pacific region is still the world’s largest air transport market based on this year’s numbers, with a 31-percent share of […]
Foxx U.S. Transportation Secretary Anthony Foxx has granted a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for $452 million to finance the Downtown Crossing section of the Louisville and Southern Indiana Ohio River Bridges Project. “The Ohio River Bridges project will help residents and businesses get where they need to go faster […]
Senate Confirms Johnson to lead DHS. By a vote of 78 to 16, the U.S. Senate voted Monday to confirm Jeh Johnson as secretary of homeland security. President Obama nominated Johnson two months ago. He will be responsible for border security, disaster preparation and response, immigration control, cyber security, infrastructure protection, and aviation security. […]
The Export-Import Bank of the United States has voted to guarantee a $44.8 million loan extended by G.E. International to Mashav Initiating and Development that will assist in the export of power-plant equipment to Israel. The exports include one GE LM6000 PF Sprint gas-turbine generator set manufactured by GE Packaged Power and two […]
A job dispute at Portland’s container terminal has been resolved. Work involving plugging in and unplugging refrigerated containers will be assigned to workers represented by the International Longshore and Warehouse Union Locals 8 and 40.
Gulftainer said this week that it seeks to become one of the six largest container terminal operators in the world, establishing 35 terminals handling 18 million TEU by 2020. The company will handle 6 million TEU this year.
According to reports, despite a loss of $67 million in the first three quarters of this year, Evergreen “might post a profit for the whole of this year thanks to gains from disposing of a number of shipping containers from its subsidiary.”
