The American Chamber of Commerce in Shanghai (AmCham Shanghai) on Thursday elected Robert A. Theleen, chairman and chief executive officer of ChinaVest Ltd. and current AmCham Shanghai vice chairman, to chairman for 2013. He replaces Kenneth Jarrett, who decided not to run for a second term as chairman.
The decline in share prices when the market opened the day after the presidential election reflects the economic outlook of the post-election period. A politically divided Washington indicates that little progress will be made on key policy issues such as the “fiscal cliff,” automatic spending cuts and tax hikes scheduled for January 2013. […]
The liner carrier, which left TSA in 2009, plans to raise reefer rates on a global basis by $1,500 per container, in line with increases announced by Maersk in September. Maersk decided to raise reefer rates by roughly 30 percent.
European road freight rates have fallen for the last five months, according to an index published by the London-based transportation research and consultancy firm Transport Intelligence (Ti). According to the new international road freight index, compiled by Ti using data provided by European freight service provider, Freightex, road freight rates have fallen 7 […]
The agency has rescheduled its annual Trade Symposium for Nov. 27-28 in Washington. The event was originally planned for Oct. 29-30, but was rescheduled when Hurricane Sandy forced the federal government to shut down.
Freight transportation and trade are likely to take a back seat to broader economic policy issues in the coming months as Congress and President Obama try to work together after a bruising election campaign.
Jeffrey E. Miles was named deputy executive director for operations. He will be responsible for operations at the ports of Wilmington and Morehead City and inland terminals in Charlotte and the Piedmont Triad.
Deutsche Post DHL said it had consolidated net profit of 382 million euros ($487 million) in the third quarter, 0.8 percent less than the 385 million euros earned in the same 2011 period. Revenue was up 5.7 percent to 13.8 billion euros. While mail revenue fell 1.9 percent to 3.3 billion euros, all three […]
Matson had a profit of $19.1 million in the third quarter ending Sept. 30, more than double the $8.7 million earned in the same period a year earlier. In the third quarter of 2011, the company had a $9.7 million charge against earnings related to discontinued operations (net of income taxes), including a […]
Two Pakistani nationals have been indicted by a federal grand jury in the District of Columbia on charges alleging that they operated Internet sites that illegally shipped pharmaceuticals from Pakistan and the United Kingdom to customers in the United States, the U.S. Justice Department announced Wednesday. Sheikh Waseem Ul Haq, 39, and Tahir […]
The Manila-based global terminal operator ICTSI said Thursday it had operating profit of $225.8 million through the first three quarters of 2012, a 5 percent increase over the same period in 2011. Revenue rose 7 percent to $524.7 million. Net income was up 4 percent year-on-year to $105.8 million. Container volume at ICTSI-operated […]
The liner carrier CMA CGM on Thursday unveiled its largest ever ship, the 16,000-TEU CMA CGM Marco Polo. The U.K.-flagged ship is 396 meters long, 54 meters wide, with a draft of 16 meters, and is the first in a series of three 16,000-TEU vessels, all to be named after great explorers. The […]
International shipping, logistics and marine services provider GAC Group has appointed Bengt Ekstrand as its new group president, effective in January. Ekstrand takes over for Capt. Lars Säfverström, who has held the position since July 1998. Ekstrand is currently group vice president of GAC’s Asia-Pacific region and was previously the head of the […]
The Anchorage Economic Development Corp. (AEDC) has promoted Jon Bittner to vice president. In his new position at AEDC, Bittner will be responsible for day-to-day operations of the organization as well as developing new projects and initiatives to drive the organization forward. Since joining AEDC in 2011, he has developed national and international […]
Mississippi’s governor says he wants to speed up development of the Port of Gulfport. The Sun Herald newspaper, reporting on a meeting it had with Gov. Phil Bryant Wednesday, said “he wants quicker action on issues stalling development at the Port of Gulfport so the project moves forward and produces 1,200 new jobs in […]
Supply chain management services firm Ameriquest has appointed Kate Freer to vice president of marketing for business services. Since joining AmeriQuest in 2004, Freer has led the marketing and communications strategies for AmeriQuest Business Services and its subsidiary companies, including the most recent acquisitions of COR360 and CURE Leasing & Maintenance. Prior […]
The classification society Bureau Veritas has named Philippe Donche-Gay executive vice president in charge of the marine and offshore division, merging the two units. The change follows the retirement of Bernard Anne as executive vice president and managing director of the marine division.
Kenco, a Chattanooga, Tenn.-based provider of distribution, transportation and supply chain services, named Steve Perry vice president of human resources for Kenco Management Services. “His skills and experience include building advocacy, business development, change management, labor relations, leadership development, and mergers and acquisitions,” said Scott Mayfield, president of Kenco Management Services. Perry […]
Growing losses at the airline’s cargo division in the first half of the fiscal year contributed to lower operating profits and a 30 percent decline in net profit for the parent company.
The liner carrier Mediterranean Shipping Co. said Wednesday it plans to hike Asia-Europe rates from mid-December. The increase, $600 per TEU, applies to cargo from China, Hong Kong, Taiwan, Japan, Korea, Vietnam, Singapore, Malaysia, Thailand, Indonesia, and Bangladesh destined for ports in Northern Europe, the Mediterranean (including north Africa), and the Black Sea. […]
