Attempts by container carriers to tackle surplus capacity are being undone as new orders for ultra large container vessels (ULCVs) make the headlines, said London-based Drewry, in a press release announcing its most recent Sea & Air Shipper Insight report. “Ocean carriers did a decent job over the winter months balancing supply to […]
Domestic intermodal container volume ticked up 10.2-percent, year over year, during the first quarter, making it the sixth consecutive quarter of increases of more than 10 percent, according to the Intermodal Association of North America. The total intermodal volume of 3.68 million units is also good for the second highest volume in domestic […]
After a vote to eliminate a collateral deposit requirement from the Transportation Intermediaries Association’s services bond program, the organization will refund more than $2 million to members who paid the deposit fee when purchasing bonds. The TIA board eliminated the $8,000 deposit requirement due to the program’s success. Members who hold $250,000, $100,000 […]
Sweden-based Greencarrier Freight Services has acquired the Swedish logistics firm Trana Spedition for an undisclosed amount. Trana, which had 2011 revenues of SEK 72 million, will continue operating under its current name, and the firm’s management will stay with the company. Kenneth Sankala, Trana Spedition’s former chief executive officer, will now serve as […]
Virgin Atlantic Cargo has relaunched seasonal daily flights from London Heathrow to Chicago. The routing will be flown until Oct. 26. The Chicago flights add to Virgin’s strong transatlantic presence, which already includes daily services from London to JFK, Newark, Los Angeles, Boston, Miami, Washington and Orlando. “Chicago has been an […]
CAPA recommended the 11 ports in the state raise tariffs by 1.7 percent by July 1 as part of its annual rate increase guidelines. Recent or pending hearings on the increase are occurring in Oakland, Los Angeles and Long Beach.
Eurogate said its container terminal in Wilhelmshaven is enhancing its competitiveness by offering hinterland connections by rail at the same prices as other German ports. “Eurogate Group rail operators Eurogate Intermodal (EGIM) and ACOS Group are offering hinterland connections to/from Wilhelmshaven at the same fair prices as to/from the two other German seaports Bremerhaven and […]
The U.S. trade deficit fell by nearly $5 billion from February to March, ending the month at $38.8 billion, according to the Commerce Department. Last month, the United States exported $184.3 billion in goods, but imported $223.1 billion in cargo. Year over year, the trade deficit showed a $12.9-billion decrease. Exports fell by […]
Horizon Lines said it lost $20.1 million in the first quarter of its current fiscal year compared to $26.8 million in the same 2012 period. Horizon, which operates container liner services between the U.S. mainland and Alaska, Hawaii, and Puerto Rico, said revenue for the quarter was $244.5 million compared to $263.4 million […]
Related Content U.S. program focuses on small business exports SBA opens export doors Rep. Janice Hahn, D-Calif., is hosting an export business roundtable on Friday with Dario Gomez, the Small Business Administration’s administrator of international trade, to provide information on SBA programs and resources for small companies seeking to export or only export on a […]
Allegretti The American Maritime Partnership (AMP), a trade organization for the U.S. shipping industry, said Thomas Allegretti has been elected as its new chairman. Allegretti is president and chief executive officer of the American Waterways Operators, a trade group for the tug and barge industry. He succeeds James Henry, chairman and president of the […]
The Chilean liner shipping company said shareholders meeting in Valparaiso this week approved a plan to increase capital by $500 million that will be used to purchase seven 9,300-TEU ships and prepay a loan from AFLAC.
SA Recycling, a long-time exporter of scrap metal through the port, is working with CML Metals Corp. to send iron ore from mines in Utah, California, Arizona and Nevada to Asian steel makers.
Hong Kong Radio Television said striking dockworkers are expected to return to the bargaining table on Thursday for a fifth day of talks after little progress was made in resolving a dispute with subcontractors at the port. “Striking dock workers and port contractor Everbest held eight hours of talks at the Labour Department […]
The information service Alphaliner says spot freight rates from China to Europe have crashed. “Spot freight rates from China to Europe are currently offered at $700-$800 per TEU, compared to $1,300-$1,400 per TEU at the beginning of the year,” it noted in its weekly newsletter. Alphaliner said 20 new ships of between 8,500 […]
Despite a nearly $80 million boost in revenues, year over year, and a 4.2-percent rise in tonnage, Arkansas Best turned in a first-quarter net loss of $13.4 million. The result, however, was an improvement over 2012’s first-quarter net loss of $18.2 million. ABF officials pointed to the less-than-truckload carrier’s high cost structure as […]
Raytheon, a major international defense and aerospace company, will pay $8 million in civil penalties and remedial expenditures to resolve hundreds of alleged violations of U.S. export regulations designed to protect sensitive technology from falling in the hands of enemies. The State Department’s Bureau of Political-Military Affairs, which oversees exports of military goods, said […]
The association has come out against a U.S. Customs proposal to improve due process procedures for suspending a broker’s entry-filer code, saying that going after the code is a back-door way to take away a broker’s license and is unconstitutional.
The Washington-based NCBFAA wants exemptions pertaining to non-vessel-operating common carrier negotiated rate arrangements (NRAs) extended to foreign-based, unlicensed NVOs as well as U.S.-licensed companies.
Agility saw a 46-percent, year-over-year jump in profit to KD 10.1 million ($35.6 million) and a 10-percent revenue growth to KD 352.6 million ($1.24 billion) during the first quarter. Before-tax earnings were up 36 percent. Revenue for the company’s global logistics arm ticked up 7 percent due to new customers like Shell, […]
