Nils Andersen, CEO of the A.P. Moller-Maersk Group, told the Financial Times that the company will invest more heavily in its oil, drilling, and ports businesses, and not as much in its container business Maersk Line.
The union’s president has broken weeks of silence during contract negotiations to state that employers “want to grab more money away from the ILA and its members by placing a cap on container royalty.”
Container line members of the Transpacific Stabilization Agreement said Friday they plan to postpone a previously announced recommended rate hike on the eastbound transpacific trade from Dec. 1 to Dec. 15. “The postponement reconciles varying effective dates adopted on a voluntary basis by individual carriers to avoid confusion in the market, and more […]
The ocean carriers Maersk Line and CMA CGM have added a new westbound port call at Beirut, Lebanon, and a tenth vessel to a weekly Asia-Mediterranean joint service dubbed AE12 by Maersk and Phoenician Express (BEX2) by CMA CGM. Roundtrip voyage time on the AE12 has increased from 63 days to 70 days. […]
Diana Containerships Inc., a global shipping company specializing in owning and operating containerships, said it had a profit of $1.6 million for the third quarter of 2012, compared to $2.7 million for the same period of 2011. Time charter revenues were $14.6 million for the third quarter of 2012, compared to $9.7 million […]
The European Shippers Council (ESC) expressed concern Monday about potential harm to several industries from new limits on the sulfur content of fuel used by ships in the Baltic and North seas and English Channel.
The St. Lawrence Seaway reported total cargo shipments in October of 4.4 million metric tons, a 9.8 percent increase over the same month last year. For the period March 22 to Oct. 31, year-to-date total cargo shipments were 29.5 million metric tons, a rise of 1.4 percent over the same period in 2011. […]
The large, automatic spending cuts scheduled to kick in the first week of January if Congress and the Obama administration don’t reach agreement on an alternative budget-reduction plan will have a significant impact on programs critical to goods movement and has shippers worried about their business operations. U.S. Customs and Border Protection, for example, faces […]
The U.S. House on Friday approved the 2012 Russia and Moldova Jackson-Vanik Repeal Act legislation, which if approved by the Senate and signed by the president would establish permanent normal trade relations (PNTR) with Russia.
The World Trade Organization on Friday adopted both its Panel and Appellate Body reports in a dispute with China over the imposition of duties on U.S exports of grain oriented flat-rolled electrical steel (GOES). “We are pleased that the WTO has adopted these important reports finding that China has misused trade remedies against […]
The U.S. Transportation Department has proposed to allow Delta Air Lines to serve Tokyo’s downtown Haneda Airport from Seattle. Under a U.S.-Japan agreement, U.S. airlines may operate a total of four daily roundtrip flights per day at Haneda Airport, where operations are limited. In 2010, DOT awarded Delta two of those flight opportunities, one […]
By Chris Gillis All indications in the market are that freight transportation costs, both international and domestic, are on the rise for American shippers in 2013. These increases — some steeper than others and varying by transport mode — are unwelcome news for many shippers who have already roughed it through several […]
Aqua Marine (AM) is a corporation on Nevis in the West Indies that supplies bunker fuel. It initiated arbitration against Garanti Finansal Kiralama (GFK), demanding to be paid for bunkers delivered to two vessels owned by GFK. GFK did not dispute its ownership of the vessels, but said since it was not a […]
The revolutionary impact of the Internet on retail sales is underscored by the volume of holiday shipments U.S. couriers FedEx and UPS plan to deliver. FedEx recently announced that it anticipates its busiest day in history on Dec. 10, when it moves a projected 19 million shipments through its express, ground and freight […]
Frontier Spinning Mills is one of the nation’s largest producers of yarn, and part of a wider textile industry in North Carolina that faces a vexing transportation problem.
Industry seeks more friendly FDA enforcement techniques. By Eric Kulisch US. Customs and Border Protection has several initiatives underway to streamline the entry of shipments that comply with U.S. trade requirements, but for many products that progress is undermined by frequent delays at the border caused by the Food and Drug Administration, according […]
One hundred and fifty million dollars buys a liner carrier a fairly large container ship these days. But it also apparently buys a nice chunk of one of the world’s largest lines itself.
ECS Group, a large general sales and services agent based in Paris, in November acquired three companies in Italy founded by Glauco Martinelli. The firms include Air Transport Consultants Spa (ATC), Airfreight and Data Processing Srl (ADP), and Airline Logistics Srl (AirLog). ATC and ADP are based in Milan. AirLog is a […]
By Eric Johnson Bogatch-Genossar In the container shipping world, there really isn’t a glass ceiling for women to break through. It’s more like trying to break into a Swiss bank vault. Which made the August appointment of Lea Bogatch-Genossar as president of Zim American Integrated Shipping Services, the Israeli container line’s North American subsidiary, all the […]
Worldwide Flight Services (WFS) has won the contract to provide cargo handling for British Airways World Cargo (BAWC) at London’s Gatwick Airport. The new contract, effective Dec. 1, will see about half of the airline’s cargo team at Gatwick transfer to WFS, the world’s largest air cargo handler. The company handles more than […]
