The U.S. Export-Import Bank has authorized more than $190 million in financing to support the export of Boeing 737-900ER aircraft to El Al Israel Airlines. “This transaction will help ensure that El Al has a modern and efficient fleet that can meet the growing demands of their customer base,” said Ex-Im Bank Chairman […]
The National Shipping Co. of Saudi Arabia (Bahri) has sold its general cargo vessel, Saudi Diriyah, for scrap. The company received SAR 30.25 million ($8 million) for the ship, generating a net gain of about SAR 19.5 million after deducting its book value and all expenses related to the sale. The financial impact […]
DHL Global Forwarding has opened a 1,000-square-meter facility in Barcelona targeting the distribution of life sciences and healthcare shipments in Spain and Southern Europe. The new facility is complaint with the European Commission’s new standards on the transport of medicine and is a qualified Envirotainer provider. Two-thirds of the facility’s space is reserved for […]
In May, Florida Coastal School of Law will start a number of programs in logistics and transportation law, including a Master of Laws (LL.M.) degree, as well as graduate certificates for lawyers and non-lawyers interested in transportation law. The programs are offered online and can be completed on the student’s schedule any time. […]
Under Hochberg’s leadership in fiscal year 2012, the bank for the fourth-straight year set export finance records in a number of key areas. Overall financing for the first time exceeded $35.8 billion in authorizations.
An Obama administration proposal to cap benefits enjoyed by buyers of tax-exempt bonds as part of a broader deficit-reduction strategy could harm the ability of U.S. port authorities to finance new infrastructure projects, experts say. Tax-exempt bonds are a traditional way for municipalities and states to pay for public works projects and spread the cost […]
A federal grand jury in San Juan, Puerto Rico, has returned an indictment against Thomas Farmer, a former executive of Jacksonville, Fla.-based Crowley Liner Services, for participating in a conspiracy to fix rates and surcharges for freight transported by water between the continental United States and Puerto Rico. The Justice Department’s indictment, filed last […]
As part of its initiative to raise profit levels, TNT Express will sell its Chinese and Brazilian domestic operations, ramp up technology investment and strive to generate 220 million euros ($283 million) in savings by 2015.
The freight transportation company Averitt Express said Monday it’s offering expanded electronic billing options, with customers now able to receive invoices via email. “The input we get from our customers is invaluable as we continue to find ways to improve our service and provide them with value-added benefits,” said Phil Pierce, Averitt’s executive […]
The agency is sparing 24 towers that had initially been targeted for closure, and 16 towers partially funded by Congress will remain open. Earlier this month, the FAA proposed closing 189 towers to meet the $637 million cut.
The Singapore-based liner carrier on Monday received its largest ever containership, the 14,000-TEU APL Temasek, the first in a series of 10 such ships the company will receive into its fleet in the coming months.
The liner carriers Hanjin Shipping, CMA CGM and Zim on Monday said they plan to raise rates in the Asia-Europe trade from April 15. Hanjin will raise rates by $500 per 20-foot container and $1,000 per 40-foot container from all parts of Asia to all parts of Europe. CMA CGM will raise […]
“We will continue offering customers flexible and high-value charter solutions in the future,” Lufthansa’s Andreas Otto said. “With the newly adapted structure, we are leaner and more focused, and can offer our own aircraft even easier and faster.”
Dachser’s group revenue grew 3.7 percent, year over year, in 2012 to 4.41 billion euros ($5.7 billion), on the strength of 49.8 million handled shipments. Based on its growth prospects and increased activity, company officials hope to surpass 5 billion euros in revenue for the first time this year. The latest numbers show Dachser is […]
Transpacific air freight rates ticked up by nearly 10 cents per kilo, growing to $3.32 per kilo after a slow start to the year, according to Drewry’s East-West Airfreight Price Index. The number shows strong growth over September’s price of $3.15, but is still far off from the rate high points seen in November […]
U.S. and Canadian administrators last week opened the St. Lawrence Seaway for its 55th navigation season after a winter of extensive maintenance and upgrades. Canada Steamship Lines’ new Baie St. Paul, the first of a series of new fuel-efficient vessels specifically constructed for use in the Seaway, was the first vessel to enter […]
The proposed merger between the container liner companies Hapag-Lloyd and Hamburg Süd has been called off. A brief statement from the shareholders of Hapag-Lloyd – the Albert Ballin investment group and the German tourism company TUI – on Sunday indicated the merger had been put on hold at the request of the Oetker Group, the […]
The U.S. Federal Motor Carrier Safety Administration has ordered Georgia-based General Trucking and Michigan-based Highway Star to shut down, saying the carriers are imminent public safety hazards due to a number of safety violations. At General Trucking, the agency found officials disregarded driver-qualification requirements, didn’t monitor current hours-of-service requirements and let drivers operate […]
Amerijet International has begun offering a range of commercial barrel shipping services to Aruba, Barbados, Haiti, Jamaica and a host of other Caribbean destinations. In the barrels, shippers can send everything from hazardous materials to food, bulk products and liquids. Barrels destined for the Caribbean will likely route through Amerijet’s hub in […]
Roy Schleicher, interim CEO at the Florida port, said because of the depressed economy, the port came to a “mutual agreement with Hanjin… that we would not pursue building their container terminal at Dames Point.”
