The news this week that freight payment and audit services provider Trendset has been beset by internal embezzlement and fraud comes at a particularly interesting point in the evolution of the freight payment and audit industry.
The Netherlands-based third party logistics firm achieved record revenue of 7.22 million euros ($9.28 million) in 2012, a 4.8-percent, year-over-year, growth rate, but took a 21.8-percent hit in its adjusted earnings.
The White House has not named a political nominee since former Commissioner Alan Bersin departed about 15 months ago. Career agency officials have continued to push through organizational and programmatic reforms.
Six U.S. government agencies on Wednesday joined together to kick off a new pilot program to expand federal export assistance to small businesses. The program, U.S. Global Business Solutions, hopes to add 50,000 small businesses to the nation’s exporter base by 2017. Small Business Administrator Karen Mills said the pilot program will […]
In its annual report, the European Shippers Council reiterated that the European government needs to safeguard the 32-billion-euro infrastructure allowance that’s part of the Connecting Europe Facility in the 2014-2020 budget. ESC hopes the budget will be resolved soon and finalized this sometime this year. The council stressed the importance of the government […]
The U.S. International Trade Commission said it’s seeking input for a new investigation into proposed modifications of the North American Free Trade Agreement (NAFTA) rules of origin. The investigation, Probable Economic Effect of Certain Modifications to the North American Free Trade Agreement Rules of Origin, was requested by the Office of the U.S. […]
The International Aerospace Environmental Group is preparing a global declarable substance list to be used voluntarily by aerospace product manufacturers. The group says this list will help those in the supply chain know more about the chemicals and materials used to manufacture the equipment. This will result in increased efficiency, lowered costs and […]
The City of Long Beach is appealing to the Los Angeles City Council not to approve the Southern California International Gateway rail yard project recently forwarded by the Port of Los Angeles. On Wednesday, the Port of Long Beach Harbor Commission formally went on record supporting the city’s position, saying the Port of Los […]
The U.S. Export-Import Bank has entered a new marketing partnership with the state of Illinois to help the Midwest state’s businesses boost export sales and jobs. The so-called Ex-Im Bank’s City/State Partnership with the Illinois Department of Commerce and Economic Opportunity (DCEO) gives thousands of exporters, especially small businesses, access to information about […]
Bill Deluce has been appointed interim president and chief executive officer of Vitran. Deluce, who has been on the company’s board since 2004, will steer Vitran’s ongoing operations and strive to improve financial results until a permanent president is found, a search that is ongoing. Deluce replaced Rick Gaetz, who recently resigned from Vitran. […]
Brian Conrad, TSA executive director, doesn’t expect the westbound transpacifc trade in terms of rates and volumes to change significantly because of the merger. The market “is still going to be driven by basic market fundamentals,” he said.
Peter Ulber will become the new chief executive officer of Panalpina June 1, replacing Monika Ribar, who will focus on non-executive managerial roles, according to the Swiss freight forwarder.
The liner carrier OOCL said Monday it will no longer provide chassis for import and export shipments to and from facilities in Houston and Savannah from July 1. The decision to stop providing chassis in Houston also applies to facilities in McAllen and Pharr, Texas. “All motor carriers, either working as suppliers […]
A dockworkers strike at a Hutchison Port Holdings-operated terminal in the Port of Hong Kong has stretched into a second week, according to local reports. Dockworkers at the port who are managed by a subcontractor of Hutchison are protesting what they consider an insufficient pay increase, with several hundred camped out on a […]
Evergreen Marine Corp. said it had a profit of 128.5 million New Taiwan dollars (NT) ($4.3 million) compared to a loss of 3.1 billion NT in 2011. The world’s fifth largest container carrier said in an income statement provided to the Taiwan Stock Exchange that it had operating income last year of 16.2 […]
The liner carrier Maersk Line said this week it plans to hike Europe export rates to Asia on May 1. The increase, $100 per 20-foot container and $200 per 40-foot container, is applicable to shipments from Northern Europe to the Far East.
The North American revenue-earning railcar fleet increased by 1 percent in 2012, according to the 2013 North American Freight Railcar Review, published by Railinc. The revenue-earning fleet is a subset of the total fleet consisting mostly of freight cars. The 1-percent increase in 2012 was good news for those in the freight […]
Winnipeg-based Bison Transport has begun running trucks fueled by liquid natural gas out of Calgary, according to the Canadian Trucking Alliance. Shell Canada, a partner in the project, has opened fueling stations in Calgary, Red Deer and Edmonton. According to the alliance, Bison officials expect to spend 30 percent less money on […]
The freight payment and audit services provider Trendset has alerted its clients to an internal fraud and embezzlement issue which could affect payments the provider was supposed to make on behalf of its shipper customers to their transportation carriers. Trendset Chief Executive Officer Gary Selvaggio said in a letter to customers last week, which […]
