The liner carrier said Friday it’s increasing the size of a July 1 general rate increase for cargo moving from Asia to North Europe from $750 per TEU to $950 per TEU. It added it “continues to face unsustainable rates in the trade.”
Yang Ming has extended its lease at the Port of Los Angeles for an additional nine years. The liner carrier’s current lease at the West Basin Container Terminal ends in 2021. The new agreement extends the lease to 2030 and will result in additional port revenues of between $365 million and $525 million, depending […]
UPS has made a “significant expansion” to its Asian healthcare network by opening a 22,000-square-meter healthcare facility in Hangzhou, China, according to a press statement. The new facility, which was designed to meet the specific needs of pharmaceutical companies, features a fully automated tracking system. It is staffed by an on-site quality assurance […]
The Port Authority of New York and New Jersey implemented the controversial $4.05-per-TEU Cargo Facility Charge in 2011 to help pay for road and rail infrastructure, as well as security at the port.
“The recent bridge collapse is a classic example of how the stability of our nation’s highways and bridges is already compromised,” OOIDA’s Todd Spencer said. “Adding more weight to the equation is the last thing we need.”
The Mexican government is stepping up its implementation of recently introduced streamline audit procedures for the verification of textile products entering the country. The procedures seek to avoid the illegal transshipment of textiles and other products under the North American Free Trade Agreement (NAFTA). The new approach uses a sampling method with the […]
Vice President Joe Biden and Haitian President Michel Martelly signed a Trade and Investment Framework Agreement (TIFA) this week in Port of Spain which will provide a forum for bilateral talks to enhance trade and investment and discuss specific trade issues between the United States and the Caribbean Community (CARICOM). The 15 member […]
The World Organization for Animal Health (OIE) has upgraded the United States’ risk classification for bovine spongiform encephalopathy (BSE), or “mad cow” disease, to negligible risk. “This is a significant achievement that has been many years in the making for the United States, American beef producers and businesses, and federal and state partners who […]
The authority said the new service will allow vessels to arrive at the canal much closer to their scheduled transit times, allowing them to remain at anchor for less time before actually beginning transit.
The Israel-based liner carrier recorded a loss to shareholders of $112 million in the first quarter of 2013, compared with a loss of $163 million in the same quarter last year. It also had revenue of $918 million for the quarter.
Liner carrier Mediterranean Shipping Co. has closed on the sale of a 35-percent interest in its terminal division, Terminal Investment Ltd. (TIL). The Stamford, Conn.-based infrastructure investment fund, Global Infrastructure Partners (GIP), and a group of co-investors are paying $1.9 billion for TIL, MSC said in April when the deal was first announced. MSC said TIL has […]
Maersk Line has announced new rotations for its MECL 1 and MECL 2 services between the United States, Middle East, Indian Subcontinent and Mediterranean. The company announced earlier this year it was increasing the size of its ships in MECL 1, which is operated with U.S.-flag vessels, and using them to serve the Western […]
Fednav Ltd., the largest bulk carrier in Canada, will add six new vessels to its fleet. Ordered from Sumitomo Corp. and Oshima Shipyard in Japan, the vessels will add “substantial capacity” to Fednav’s Great Lakes-capable fleet of ships, the carrier said. The 34,000-ton bulk carriers are adapted to the dimensions of the St. Lawrence […]
Global air cargo activity ticked up in April by 1.4 percent, year over year, after a 2.6-percent decline in March, according to the International Air Transport Association. Capacity rose by 1.2 percent. In the first four months of the year, activity has declined 0.6 percent, year over year, and capacity has basically […]
Etihad Cargo and Atlas Air Worldwide have launched a round-the-world freighter service, adding new services to Viracopos, Brazil; Quito, Ecuador; and Miami to its existing Boeing 747-8 routing. The globe-spanning service begins in Abu Dhabi, continuing on a Hong Kong-Chicago-Miami-Viracopos-Quito-Amsterdam routing before returning to the Middle East. “This goes beyond simply joining the […]
Trade value among the United States, Mexico and Canada hit $95.6 billion in March, a 4 percent decline from March 2012. Trucks carried 60 percent of the goods traded, with rail accounting for 16.5 percent of the goods moved, vessels taking on 8.1 percent of the cargo, and air transporting just 3.7 percent […]
At DHL’s annual general meeting, Frank Appel, the integrator’s chief executive officer, expressed confidence in previously announced earnings targets of 2.7 billion euros ($3.52 million) to 2.95 billion euros for 2013, despite the sour economy. Earnings targets for 2015 have been set at between 3.35 billion euros and 3.55 billion euros. Company […]
The global terminal operator PSA International has acquired a stake in the Fujian Jiangyin International Container Terminal (FJCT) in the Port of Fuzhou, expanding its presence in the southeast China gateway. PSA will be the second biggest shareholder in the terminal, after the Fuzhou Port Group (FPG). The stake is PSA’s third […]
PECO Pallet has opened a new depot in Hazleton, Pa. The facility, located about 95 miles north of Philadelphia, offers services such as sorting, repairing, storing, and reissuing of pallets. It will be fully ramped up by July 1, the company said.
In yesterday’s story on Walmart’s environmental fines, the retailer actually paid $81.6 million in the latest federal case concerning violations to the Clean Water Act, bringing its recent penalties paid in both state and federal court to $111 million.
