Silk Way Airlines, an all-cargo carrier based in Azerbaijan, has ordered two Boeing 747-8 freighters with a list price of $704 million, Boeing said Thursday. Silk currently operates Boeing 747-400 and 767-300 freighters, providing service to Europe, the Middle East and Far East via the Central Asian nation. The new aircraft offers 16 percent more cargo space […]
Yusen Logistics, the freight forwarding and logistics subsidiary of the NYK Group, said Monday it has started a new less-than-containerload (LCL) service from Hong Kong to Rotterdam. The direct service sails from Hong Kong every Sunday and arrives at Rotterdam 26 days later, and is supported by a domestic distribution network service to […]
The first week-long round of talks for U.S.-European Union Transatlantic Trade and Investment Partnership (TTIP) ended Friday in Washington. “It’s been a very productive week,” said EU Chief Negotiator Ignacio Garcia-Bercero in a statement. “We have been striving already for many months to prepare the ground for an ambitious trade and investment deal that will […]
Container volume at the Port of Los Angeles fell 7.2 percent in June, completing a first half in which volume fell 7.4 percent. The port handled 646,650 TEUs in June and 3.7 million TEUs during the first half. The neighboring Port of Long Beach, which hadn’t released its June statistics as of Monday, has […]
The United States on Friday said it has fully implemented the recommendations and rulings of the World Trade Organization in a dispute brought by Mexico on the U.S. dolphin-safe labeling program. The United States informed the WTO of its compliance in a communication to be circulated to WTO members. “I am pleased […]
The Transported Asset Protection Association has turned its focus to South Africa, hosting a regional conference in Johannesburg and penciling in another training session and conference in 2014. TAPA is also pushing to develop a chapter of the organization in the country. The group is concerned about the large amount of cargo […]
DHL Express Chile has unveiled a 10,000-square-meter headquarters facility in Santiago, Chile, designed to help the company address growing volume demands in the South American country. The facility is located five minutes from the Santiago International Airport. The state-of-the-art complex includes automated sorting capabilities, enhanced safety features and an adherence to environmentally sustainable […]
CenterPoint Properties has purchased a seven-acre logistics facility and container yard in Commerce, Calif., from an undisclosed seller. The purchase price was not released. The property is two miles from intermodal rail yards operated by BNSF and Union Pacific, and it is in close proximity to the Los Angeles and Long Beach […]
The ship classification society Nippon Kaiji Kyokai (ClassNK) said it will expedite its investigation of the break-up of the containership MOL Comfort, but said the inquiry will be complicated by the fact that both halves of the ship have now sunk. The ship broke in half on June 17, and the stern sank […]
Her September departure makes it likely that U.S. Customs and Border Protection will continue without a political appointee at its helm for the immediate future.
The outlook for trade from China is weak, but surprisingly some shippers have reported difficulty obtaining space on eastbound transpacific container services out of North China ports. Earlier this week, the Associated Press reported that China’s economy “might be cooling even more sharply than expected,” citing data from the country’s General Administration of […]
U.S.-flag Great Lakes freighters carried 10.1 million tons of dry-bulk cargo in June. Cargo traffic is being hampered by low rainfall totals and dredging neglect that has forced lakers to carry less than their full capacity.
Last year, Houston ranked No. 1 with total exports of $110 billion, an increase of 5.6 percent over 2011, while New York clinched the No. 2 spot with $102 billion in exports.
The United States was the world’s largest services market and the world’s top exporter and importer of services in 2011, the U.S. International Trade Commission said in its Recent Trends in U.S. Services Trade, 2013 Annual Report. ITC, an independent fact-finding federal agency, compiles the report annually. Each year’s report presents a qualitative […]
The non-vessel-operating common carrier (NVO) Triton Overseas Transport on Thursday said it has started weekly full container load (FCL) and less than container load (LCL) services to and from South America via the Port of Houston. The service, which was launched in the last month, connects Houston to Buenos Aires; Santos, Brazil; Valparaiso, […]
More than 85 percent of Domestic Fortune 500 companies utilize 3PLs, and the amount of money these companies spend on 3PL services has grown by 67 percent since 2005 to $250.2 billion.
Liberty Global Logistics LLC, a U.S.-based car/truck carrier, will begin monthly service to the Middle East from Providence, R.I., beginning July 27. Vessels will call ports in Lebanon, Turkey, Egypt, Libya, Jordan, Saudi Arabia, Oman, Pakistan, India, the United Arab Emirates, Iraq, and Kuwait. The initial sailing will carry 300 used vehicles, but Ports […]
U.S. import prices dropped by 0.2 percent in June, and export prices inched down by 0.1 percent following May declines of 0.7 percent and 0.5 percent, respectively, according to the Bureau of Labor Statistics. According to the bureau, the June drop in import prices was derived from lower non-fuel prices, whereas declines from […]
Ahead of its second-quarter earnings report, UPS has reduced its earnings-per-share guidance for 2013 by $0.20 per share. Second-quarter earnings are now expected to come to $1.13 per share. UPS officials blamed overcapacity in the air freight market, slowing U.S. industrial activity and shippers’ preference for lower-yielding solutions for the earnings reduction. They […]
A Costco distribution center that opened in Frederick County, Md., three years ago has worsened a problem with trucks getting stuck under a railroad pass because of the additional traffic. The State Highway Administration said Thursday it is implementing new restrictions on a section of MD Route 75 (Green Valley Road) near Monrovia, Md., to address the situation. Starting […]
