An influx of additional containership carrying capacity is hurting freight rates, especially the dynamics of the North-South trades, according to the London-based shipping consultants Drewry.
Turnover at truckload carriers with more than $30 million in yearly revenues rose from 97 percent to 99 percent on an annualized basis from the first to the second quarter, according to the American Trucking Associations.
Cathay Pacific will add a fourth daily non-stop flight from Hong Kong to Los Angeles in June and will add three weekly Chicago non-stop routings in August, pending government approval. The flights will be operated on Boeing 777-300ER aircraft. The airline previously announced it would be adding daily service to Newark in […]
With the government shutdown entering its second week, the lack of available staff has put a standstill to the usual free-flow of data coming from all corners of the government. According to reports, the Commerce Department was set to release data on trade this morning, but the shutdown has made that an impossibility. Employment […]
The Asia-Pacific Economic Cooperation ministerial meeting wrapped up Tuesday in Bali, Indonesia, with participants committing to maintain their freeze on raising new trade and investment barriers until the end of 2016 and rollback protectionist and trade-distorting measures. In a joint statement, the group of nations said they would cooperate on regional integration to address the slowdown […]
SeaIntel says an analysis of container traffic at North American seaports between 2006 and 2012 shows the share of the market handled by ports on the East Coast of North America has increased, while the share handled by California ports has dropped. The SeaIntel Sunday Spotlight newsletter found 18 out of the 19 […]
The solution is meant to reduce the time and cost associated with first- and last-mile moves, especially for global non-vessel-operating common carriers (NVOs).
Shippers have told the railroad to expect a near-record harvest of more than 60 million tons, and that has CN President and Chief Executive Officer Claude Mongeau stressing the importance of an efficient supply chain.
The on-demand transport management system (TMS) Transwide said this week it will provide shippers with the functionality to comply with new German tax regulations that went into effect this month. The regulations require that German companies delivering goods to recipients from another EU member state to provide proof that the goods have actually […]
Drewry said the decision by ocean carriers to dump unwanted vessel capacity from their East-West schedules into North-South trade lanes “is now seriously hemorrhaging freight rate levels in North-South services.”
Container Trade Statistics says an aggregated volume data survey shows the container shipping industry “may be finally pulling out of one of its longest recessions in history.” “Overall, global containerized exports in August grew by 6.25 percent to 10,949,700 TEUs compared to August of last year. Underpinning the latest expansion was a sixth […]
“2013 has been a significant year for Safmarine MPV which started with the AP Moller-Maersk Group’s decision to establish the Safmarine MPV business as a separate and independent business unit within the group,” a company executive said.
Facing pressure by the European Union, which had developed and implemented its own emissions-capping plan for the airline industry, ICAO members hammered out a deal that would seemingly placate EU officials.
The logistics software provider CargoWise said Friday it has tied up a global partnership with the Hong Kong-based network of independent freight forwarders Combined Logistics Networks (CLN). The deal will allow CLN’s 300 worldwide members to use CargoWise’s cloud-based enterprise logistics software, ediEnterprise. “We decided to partner with CargoWise due to its […]
Money spent on domestic freight shipments rose 5.2 percent from August to September, the largest increase since March, as shipment volume rose 2.7 percent, month-over-month, according to Cass Information Systems.
The shutdown of many U.S. government services because of the budget impasse in Congress is beginning to be felt in the trade sector. The United States will not send a delegation this week to Brussels for the planned second round of negotiations with the European Union on a transatlantic trade agreement because of furloughs […]
DSV Air & Sea has unveiled a time-definite service in the United Kingdom targeted at perishables and has appointed George Mead, a 25-year industry veteran, to head up the new program. DSV Fresh includes enhanced visibility and monitoring throughout the supply chain. “Globally, DSV has great experience in temperature-controlled air and sea freight […]
Japan Airlines has signed an order agreement for 31 Airbus 350 XWB aircraft, a deal reportedly worth $9.5 billion. The agreement, Japan’s first ever with Airbus, calls for delivery of the planes starting in 2019. The planes will gradually replace some of Japan’s aging fleet. The launch customer for the A350, Qatar […]
DNV-GL, the classification society formed last month through the merger of Det Norske Veritas and Germanischer Lloyd, said its FutureShip has collaborated with Hyundai Heavy Industry to optimize the design of new ships being built for United Arab Shipping Co. (UASC). UASC has ordered five 14,000-TEU ships with six options and five 18,000-TEU ships […]
Products subject to export control licensing and development of CBP’s new automated system for processing imports and exports are among the casualties of the U.S. government’s partial shutdown caused by congressional stalemate.
