The Canadian supply chain software technology provider TECSYS Inc. said Thursday it has completed a financing agreement of up to CAD$10 million with the National Bank of Canada to support the company’s growth. The financing agreement also includes a five-year CAD$5 million term loan and CAD$5 million operating line of credit. “Over the […]
Drewry said Asia-Europe spot container rates have soared ahead of annual contract talks. It said the Shanghai-Rotterdam container freight rate index increased by 38 percent, or $788 per 40-foot container today, to $2,865 per 40-foot container, “marking the latest of several huge price swings in the Asia-Europe container shipping market.” The weekly […]
Singapore Airlines Cargo will park one of its 13 freighters, citing “continuing weakness in demand for air freight shipments and high fuel prices.” The plane will be removed from service in January and under current plans it will remain parked until May 2014. A storage location is in the process of being selected, the […]
Dole Ocean Cargo Express said Thursday it will raise rates on northbound and southbound shipments between the U.S. East and Gulf coasts and Central America from Dec. 19. Northbound, the increases are: • $50 per 20-foot container and $100 per 40-foot high cube container from Guatemala and Honduras to Wilmington, Gulfport, Freeport, and […]
The liner carrier MOL said Thursday its on-time performance in the third quarter of 2012 improved marginally on the eastbound transpacific, but dipped on the Asia-Europe and transatlantic lanes. In the July-September period, 87 percent of ships from Asia to the U.S. West Coast were on time, the same as in the second […]
Armando Duarte-Peláez, a longtime board member of Colombia’s Sociedad Portuaria de Santa Marta, has been installed as theAmerican Association of Port Authorities’ (AAPA) chairman 2012-13. Duarte-Peláez accepted the new appointment’s duties at a membership meeting in Mobile, Ala., in late October. Kurt Nagle, AAPA’s president and chief executive officer, called Durate-Peláez “a strong […]
Interim Director Deborah Ale Flint on Thursday assured citizens, employees, public officials and industry partners that the Port of Oakland would get to the bottom of the of the fraud scandal swirling around the port administration, shore up its financial controls and ensure uninterrupted service at the maritime port and Oakland International Airport. Two […]
While the ports of Philadelphia, Baltimore and Norfolk said operations were returning to normal following Hurricane Sandy, it appeared many facilities in the Port of New York and New Jersey will be closed at least through the weekend.
For the year, the Chilean liner is still in the red, with a $244.6 million operating loss through three quarters, but that loss is a 74.2 percent reduction year-on-year. Revenue also fell 30.5 percent for the carrier.
The rival supply chain software providers RedPrairie and JDA Software said Thursday they will merge in a $1.9 billion deal that will create a combined entity with annual revenue of more than $1 billion. Rumors that JDA was shopping itself surfaced earlier this week, with privately-held RedPrairie eventually emerging as the buyer. […]
The offer period is further extended until one week after clearances from the European Commission and the Chinese Ministry of Commerce (MOFCOM) have been obtained, but under no circumstances later than Feb. 28, 2013.
“Central to our concerns with EU biotech labeling and renewable energy regulations is the fact that they represent discriminatory non-tariff barriers to U.S. access to EU markets for soybeans and soybean products,” the American Soybean Association said.
Radiant Logistics of Bellevue, Wash., said it has completed the acquisition of assets of its operating partner Marvir Logistics, a privately held company based in Los Angeles that has operated under Radiant’s Airgroup brand since 2006. Radiant said it structured the transaction similar to its previous acquisitions with a portion of the expected […]
Kerry Asia Road Transport (KART) has started a twice-weekly less-than-truckload service connecting Shenzhen and Hanoi, through its ASEAN-China road network. The LTL service will initially connect the industrial cities in southern China and northern Vietnam, providing shippers and logistics services providers with a fixed-day dedicated service. Kerry plans to expand the service to other […]
Damco, the freight forwarding arm of A.P. Moller-Maersk, has appointed Ivan Thuynsma to global head of its mining vertical. He will be responsible for the development of Damco’s customers in the mining industry. Damco has over the last few years seen an increased interest in its products and services around the mining […]
TITAN Salvage, a unit of Crowley Maritime Corp., early this month completed the removal of a grounded containership from the northern coast of Cuba and towed it to the Port of Havana, the company said. It was the first job for Crowley’s tugboat Ocean Wave, the first of four new ocean-going tugs ordered by […]
Container lines of the Transpacific Stabilization Agreement have recommended a rate increase from Dec. 1, ahead of a previously announced increase on rates for new contracts negotiated now through May.
Collectively, the three lines (MOL, NYK Line and “K” Line) made around $20 million in the period from April 1 through Sept. 30 this year, although that number was somewhat dragged down by MOL’s $33.3 million operating loss on the liner side.
Carrier on-time and container delivery performance both improved in September, according to the latest figures from SeaIntel Maritime Analysis. Liner schedule reliability improved to 83 percent last month.
