The company has said it will need to have a new contract ratified by January in order to have its debt restructured by Feb. 1. If the debt isn’t restructured by then, officials said the company might go out of business.
Frank Peake was sentenced to serve five years in prison and made to pay a $25,000 criminal fine for his participation in a conspiracy to fix rates and surcharges for freight transported between the continental United States and Puerto Rico.
American Airlines and US Airways have officially merged, taking American Airlines name, and the carrier’s top cargo brass has also made the switch. Kenji Hashimoto, who took over for longtime cargo head Dave Brooks upon his retirement in May 2012, has moved on to become the senior vice president of regional carriers. Jim […]
Slated for completion by November 2014, the 475,000-square-foot building at Chicago O’Hare, which includes a 53,000-square-foot office, will stand as the largest domestic DHL Global Forwarding development.
Pilot Freight Services has taken over customs clearance operations for its importer customers, saying it has taken out third-party involvement in the supply chain. With Pilot Customs Brokerage, the company says it can now handle pickup, transportation and customs clearance, becoming a one-stop shop. “This new service offering gives us the opportunity […]
Accenture last week closed its acquisition of procurement business process outsourcing provider Procurian, a $375 million deal announced in October. The acquisition prompted one analyst to speculate that other providers could be forced to partner up to keep pace. Accenture and Procurian were considered to be two of the top three procurement BPO […]
APL Logistics today opened its first APL Logistics/Carmichael International Service customs brokerage office in Laredo, Texas. APL Logistics, the supply chain management unit of Singapore’s NOL Group, acquired U.S. customs brokerage and trade compliance firm Carmichael International Service in 2012. Carmichael offers traditional customs brokerage, trade compliance, consulting and transportation services. The […]
Inchcape Shipping Services (ISS), the world’s leading maritime services provider, is expanding its services into the maritime survey sector following its acquisition of Christy & Griffin, a leading marine surveying and consultancy business. This deal will not only expand its service profile into marine surveying, but also develop its goal of delivering a […]
Two shipping analysts are warning of containership over capacity in commentaries released today. In the latest edition of its Container Insight Weekly, the London-based consultant Drewry said it believes the current orderbook of 8,000-TEU to 10,000-TEU contanerships is excessive. Meanwhile, Johnson Leung and Benjamin Wang of the investment bank Jefferies said, “More […]
Trade ministers meeting in Bali, Indonesia, on Friday achieved a breakthrough on a multilateral trade agreement covering trade facilitation that was widely hailed by business interests as a major advance in spurring global economic activity.
Taggart International, Ltd., has acquired Customs and Trade Services, Inc., a premier textile and apparel U.S. Customs Broker based in Miami with an additional office in Gulfport, Miss. Taggart International is an FMC Licensed NVOCC and OTI with more than a dozen steamship line service contracts and is an approved TSA air freight forwarder, an IATA […]
The ATA said a measure in Washington, D.C., that would bar diesel-only vehicles in the city past 2017 “would have significant harmful effects on the district’s economy and on the quality of life of district residents.”
The American Chemistry Council has called for the Pipeline and Hazardous Materials Safety Administration to prioritize recommended safety enhancements “for the largest portion of the ongoing construction of new tank cars” in its hazmat rulemaking. It also asked the agency to recognize that improving the manufacture of new tank cars will be more […]
The Virginia Offshore Wind Development Authority, the City of Norfolk, and the Virginia Ship Repair Association have joined forces with Environment Virginia to promote the economic and environmental benefits of supporting offshore wind power and its related supply chain industries to Capitol Hill lawmakers. “Hampton Roads is known for its tremendous maritime workforce, […]
The company, which is in talks with the International Brotherhood of Teamsters to renew its current contract with employees in order to reduce costs, is facing a $69.4 million debt payment in February.
PostNL has sold half its stake in TNT Express, unloading around 15 percent of its 29.8-percent stake in the company for 507 million euro ($690.23 million) to reduce its debt.
The United Nations Conference on Trade and Development (UNCTAD) has released its annual Review of Maritime Transport, a 204-page book that can be downloaded online. The 2013 review notes that its Liner Shipping Connectivity Index (LCSI) and analysis of container ship deployment finds that there are two important trends over the last 10 […]
The Federal Maritime Commission voted Thursday to approve a request for additional information from the parties to the proposed P3 Network Vessel Sharing Agreement — Maersk, MSC and CMA CGM. The request for additional information delays the effectiveness of the proposed agreement, which was poised to go into effect this Sunday, even though […]
The Port Authority of New York and New Jersey this week authorized $105 million for the design, construction and realignment of roadways in the Port Newark-Elizabeth complex in New Jersey.
The power and automation technology company ABB Group has expanded its use of Amber Road for global trade management solutions, the software company said this week. The new contract expands an existing relationship between Amber Road and ABB Switzerland into a global rollout, designed to optimize landed cost analysis and sourcing decisions for […]
