Although January air freight activity rose in anticipation of the Chinese New Year, analysts at Stifel Nicolaus warned against seeing too much into these robust numbers. January’s growth may simply be an anomaly.
APM Terminals said it has entered a final agreement with Petkim to create and operate for 28 years the Aegean Gateway Terminal (AGT), close to Izmir. APMT said the new facility will be one of Turkey’s largest container and general cargo terminals. It will be entirely operated by APMT under a concession agreement […]
Patrick Burgoyne has served as president and CEO of Yusen Terminals Inc. since 2010, a role he will retain concurrently moving forward. He will be based at the Ceres’ headquarters in East Brunswick, N.J.
APL Logistics President Jim McAdam will leave the company later this year to pursue outside opportunities, the company said in a statement Friday. APL Logistics, a subsidiary of Singapore-based NOL and sister company to liner carrier APL, said a successor has not been named and McAdam will remain until one is found. […]
CMA CGM announces rate hikes
French ocean carrier CMA CGM has announced the following general rate increases: On March 15, the rate on dry and refrigerated cargoes from India and Pakistan to the U.S. East Coast will increase by $320 per 20-foot container, $400 per 40-foot container, and $450 per 40-foot high-cube containers. On April 1, the […]
International Shipholding Corp. said Thursday it had closed on the sale of $25 million of cumulative redeemable perpetual preferred stock at $100 per share. Dividends will be payable on the Series A preferred shares at an initial rate of 9.5 percent per annum of the stated liquidation preference when, as and if declared […]
Swissport International achieved revenue of CHF 1.9 billion ($2 billion) last year, a 10-percent year-over-year increase. While tonnage decreased by 6 percent when compared to 2011, turnaround frequencies were up by 7 percent. Officials pointed to larger contracts at Paris Charles de Gaulle, London-Gatwick and other European airports as the main drivers of […]
By Jon Ross Traffic congestion is a major cost for truckers in the current economy. In its recently released 2012 Urban Mobility Report, researchers at the Texas A&M Transportation Institute (TTI) found traffic congestion cost truck drivers $27 billion in 2011. The researchers also found that some of this cost was recouped by […]
Late Wednesday the OCU bargaining units voted and agreed to ratify the terms of tentative agreements reached with the Harbor Employers Association member companies on Dec. 4, 2012.
When exploring alternatives to gasoline and diesel, carriers have to consider the benefits of fuel economy versus the cost of onboard energy storage and fuel density, the U.S. Energy Information Administration said.
Secure Shipper, a new Web-based exchange of U.S. Customs-Trade Partnership Against Terrorism and Europe’s Authorized Economic Operator compliant logistics companies, is striving to double its worldwide membership in 2013. Last month, Secure Shipper added Rotterdam-based Broekman Group to its membership, and it’s now hoping for at least 13 additional new members in 2013. […]
Virginia Gov. Bob McDonnell’s proposal to scrap the state gas tax in favor of a dedicated hike in the sales tax has the legislature on the verge of passing a transportation funding bill for the first time in many years.
“Any move to eliminate these important U.S. commodity donation programs would be shortsighted, ineffective, and could ultimately jeopardize national security and merchant mariner jobs,” warned the USA Maritime chairman.
Virginia Transportation Secretary Sean Connaughton made clear in an interview last week that he and Gov. Bob McDonnell will have the final say over whether to sell operating rights at the Port of Virginia to a private business. Asked by a reporter Thursday, after speaking at a seminar in Northern Virginia about McDonnell’s […]
The U.S. Justice Department has charged five individuals and two domestic honey-processing companies for allegedly mislabeling Chinese-origin honey on Customs declarations to evade anti-dumping duties totaling more than $180 million, U.S. Immigration and Customs Enforcement, which led the investigation, announced Wednesday. The honey shipments were transshipped through other countries. An undercover ICE agent […]
The Danish newspaper Børsen has reported the European short-sea operator Unifeeder has been put up for sale by its owner, the private equity firm Montagu and Maersk Line has been mentioned as a potential buyers. Unifeeder, based in Aarhus, last August acquired the Dutch short-sea operator Feederlink. Maersk Line has its own intra-Europe […]
UPS has tripled the coverage area of its worldwide expedited service, adding two-to-five-day delivery to more than 220 countries and territories. With the expansion, the company is targeting businesses dealing in retail and consumer goods, high-tech freight, and industrial manufacturing equipment. The expansion also encourages shippers to look beyond their borders for trade […]
Matson Logistics, a provider of multimodal transportation, warehousing, and distribution services, has obtained distribution center space in Savannah, Ga. “Our new operation expands on our ability to move retail goods in through the Port of Savannah,” said Mark Ferzacca, assistant vice president of sales for Matson Logistics Warehousing, in a statement. “More companies […]
The Scientific Commission for the World Organization for Animal Health (OIE) recommended Wednesday that the United States’ risk classification for bovine spongiform encephalopathy (BSE), or “mad cow” disease, be upgraded to “negligible risk.” “This is a significant achievement for the United States, American beef producers and businesses, and federal and state partners who […]
