By October, China’s net oil imports will surpass the United States’ own imports on a monthly basis, and next year, the Asian country become the world’s top oil importer on a yearly basis, according to the U.S. Energy Information Administration’s Short-Term Energy Outlook. EIA officials attribute increased Chinese imports to an uptick in U.S. oil production […]
Maersk Line has taken delivery of Majestic Maersk, the second of 20 18,270-TEU containerships being built for it by Daewoo Shipbuilding and Marine Engineering. Mikkel Elbek Linnet, a spokesman for Maersk, said the ship should start rotation today, Aug. 12, but was unable to confirm a report that the Queen of Denmark, Margrethe II, […]
Chainalytics, a provider of supply chain consulting, analytics, and intelligence, said last week it has acquired ROCE Partners, a European supply chain management consultancy. Chainalytics said the acquisition will increase its geographic coverage and deepen its experience and capabilities in the areas of sales and operations planning (S&OP) and demand-supply planning. Janne Salmi, […]
Voluntary self-disclosures of violations are given “great weight” by the Commerce Department’s Bureau of Industry and Security relative to other mitigating factors in determining what administrative actions, if any, to seek.
Kerry Logistics has purchased a majority stake in Mexico-based freight forwarder Cargo Master’s Group (CMG) for an undisclosed amount. CMG, which has six offices in the country, is Kerry’s second investment in Latin America this year. Through the purchase, Kerry officials will strive to strengthen trade ties between Mexico and Asia. “With […]
Due to severe cuts in services and worker pay, the U.S. Postal Service achieved a net loss of $740 million in the third quarter of its fiscal year, a sharp drop compared to the $5.19 billion loss experienced in the same period last year. In the first nine months of the fiscal year, […]
Non-vessel-operating common carrier CaroTrans will offer a new direct, weekly less-than-containerload (LCL) and full containerload (FCL) export service from Houston to Rio de Janeiro, Brazil. The first sailing from Houston is Aug. 20 with arrival in Rio de Janeiro Sept. 14, a 25-day transit. This new offering compliments the NVO’s existing direct Houston-to-Santos […]
MOL said it has completed measures to reinforce the hulls of three sister ships of the MOL Comfort, the 2008-built containership that suffered a hull fracture in the Indian Ocean in mid-June and eventually sank Work strengthening the MOL Celebration, MOL Courage, and MOL Creation was recently completed, and the ships began to return […]
“K” Line Zhenhua Logistics (Shanghai) Co., Ltd. has opened a new warehouse in a Logistics Park of Shanghai Lingang New Town. The two-story, 43,890-square-meter warehouse is located on the Shanghai side of the bridge connecting Shanghai City and the Yanshang deep-water port. The facility is designed to handle a wide variety of […]
The United States and an economic bloc of five East African countries have agreed to launch formal negotiations on a trade facilitation agreement, announced U.S. Trade Representative Michael Froman on Monday. The move is part of President Obama’s Trade Africa initiative following a U.S.-East African Community (EAC) Trade Ministerial Meeting. The EAC is […]
American shippers are juggling more responsibility as they source from and sell to a growing number of geographic regions. What they may not realize is that their exposure to compliance risk might be growing as quickly as their supply chains expand. The greatest vulnerabilities to risk often lie in emerging markets, according to benchmark indices […]
When Emirates SkyCargo announced this week it was changing the way cargo surcharges are calculated — moving from a system that charges for actual weight to the new plan of applying chargable weight to the calculation — on Sept. 1, it joined a growing list of airlines who are also experimenting with new rates. […]
Crowley Maritime Corp. has announced plans for a major expansion of its tanker fleet, saying it has entered agreements to have Aker Philadelphia Shipyard Inc. (APSI) build up to eight product tankers for delivery between 2015 and the end of 2017. JacksonvilleFla.-based Crowley said it had signed contracts for the first four 50,000-deadweight-ton (330,000-barrel) tankers to […]
Rubin McDougal, CEVA’s CFO, told American Shipper he’s pleased with the results — he sees them in line with competitors such as DHL, Panalpina and UPS Supply Chain — especially since they were achieved in a down market.
The Korean liner carrier reported a loss of 80.4 billion won ($72.4 million) in the second quarter of 2013 compared to a loss of 1.2 billion won in the same quarter of 2012. Total sales in the second quarter were 2.67 trillion won.
The firm said its analysis “shows that only Ambarli and Constanta currently have the operational capabilities to handle 10,000-TEU vessels, while Odessa will get the ability in the future, if the vessels can dock at two consecutive quays.”
Arkansas Best Corp. turned in a second quarter profit of $4.9 million, but still ended the first six months of 2013 with a net loss of $8.5 million. Officials pointed to wages and benefits for drivers at ABF Freight System as a big reason for the loss, despite improving revenue and freight tonnage […]
CSX Corp. said Wednesday that it purchased a phosphate export terminal in Tampa, Fla., from the Ingram Barge Co. The Eastern Associated Terminal is adjacent to CSX’s Rockport terminal on Tampa Bay and the two facilities will be merged into one operation. The terminals are used to ship phosphate from Central Florida’s Bone […]
U.S. merchandise exports for the first half of 2013 totaled a record $781 billion, up $8 billion from the same period last year. Although exports continue to reach new highs, the pace of growth is slowing down.
The Los Angeles Board of Harbor Commissioners this week approved a new Port Master Plan that updates the port’s development policies and procedures for the first time since its original plan took effect more than three decades ago. The plan sets forth development policies for the port to promote commerce, navigation, fisheries, recreation […]
